What amount of unamortized premium on bond mauban report

Assignment Help Accounting Basics
Reference no: EM132862910

Questions -

Q1. On December 31, 2019, Ulster Co. issued P200,000 of 8% serial bonds, to be repaid in the amount of P40,000 each year. Interest is payable annually on December 31. The bonds were issued to yield 10% a year. The bond proceeds were P190,280 based on the present values at December 31, 2019 of the five annual payments. In its December 31, 2020 statement of financial position, at what amount should Ulster report the carrying amount of the bonds?

Q2. Mauban Company has outstanding a 7%, 10-year P10,000,000 face value bond. The bond was originally sold to yield 6% annual interest. Mauban uses the effective interest method to amortize bond premium. On January 1, 2020, the carrying amount of the outstanding bond was P10,500,000. What amount of unamortized premium on bond should Mauban report in its December 31, 2020, statement of financial position?

Reference no: EM132862910

Questions Cloud

What is the depreciation charge in the first year : A motor vehicle costing $35,000 and with a salvage value of $5,000 is being depreciated at 22 5% p.a. diminishing balance. What is the depreciation charge
Organization management present special challenges : Why does an organization's management present special challenges when it comes to policy compliance? Provide examples.
Find the range of production that makes each country optimal : A manufacturing firm is planning to open a new factory. Find the range of production that makes each country optimal with lowest total cost
Demonstrated operational excellence : Select an organization that has a Global platform (they operate in more than one country), that has demonstrated operational excellence.
What amount of unamortized premium on bond mauban report : What amount of unamortized premium on bond should Mauban report in its December 31, 2020, statement of financial position
Definitions of maturity stages and dimension variables : Review the section on the definitions of maturity stages and dimension variables in the CEO Technology Best Practices Arc.
CIS 4011-N Research Methods Assignment : CIS 4011-N Research Methods Assignment Help and Solution, Teesside University - Assessment Writing Service
Describe organization cloud computing implementation : Describe the organization's Cloud Computing implementation and the benefits they realized from the implementation.
Construct a balance sheet as of the end of january : The company has investors who put up $100 000 for their ownership. Construct a balance sheet as of the end of January

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd