Reference no: EM132676298
Questions -
Q1. On January 1, 2020, ABC Company converted its 12%, P1,500,000 face value bonds payable with carrying amount of P1,552,049 for 20,000 ordinary shares with a par value of P50. The bonds were originally issued to yield 10%. The fair value of the bonds on the date of retirement is P1,600,000. Assuming that the bonds are convertible and the share premium from conversion option was P60,000. How much is the gain (loss) on conversion of the bonds to be recognized in the profit or loss during the period?
Q2. On September 1, 2021, Confused Company purchased a machine. The purchase agreement required Confuse to pay an initial fee payment of P700,000 plus four P300,000 payments due every four (4) months, the first payment due December 31, 2021. The market interest rate is 12%. The present and future value tables at 4% for four (4) periods were as follows: Present value of P 1, 0.85; Present value of an ordinary annuity of P1, 3.63; Future value of P 1, 1.17, Future value of an ordinary annuity of P1, 4.25. What is the fair value of the note on December 31, 2021?
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Find how much australian dollar importer will make a loss
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Calculate the gain associated with second transaction
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Determine the carrying value of note payable at December
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Find how much cash will be received by de leon co
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What is the fair value of the note on December
: Future value of P 1, 1.17, Future value of an ordinary annuity of P1, 4.25. What is the fair value of the note on December 31, 2021
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How would you engage the person in a treatment group
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Describes relationship between the shareholders of a company
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Find what journal entries are needed to record the disposal
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Precede-proceed approach has several key assessment
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