Solution-What cibac should report bonds payable of

What cibac should report bonds payable of

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Reference no: EM132793271

Problem 1: On January 1, CIBAC Inc. issued $3,000,000, 11% bonds for P3,195,000. The market rate of interest for these bonds is 10%. Interest is payable annually on December 31. CIBAC uses the effective-interest method of amortizing bond premium. At the end of the first year, CIBAC should report bonds payable of:

Problem 2: ASA Company issues P10,000,000, 7.8%, 20-year bonds to yield 8% on July 1, 2019. Interest is paid on July 1 and January 1. The proceeds from the bonds are P9,802,073. What amount of interest expense will be reported on the 2020 income statement?

Reference no: EM132793271

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What cibac should report bonds payable of : CIBAC uses the effective-interest method of amortizing bond premium. At the end of the first year, CIBAC should report bonds payable of

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What cibac should report bonds payable of

Reference no: EM132793271

Reference no: EM132793271

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