. Compute for the issue price of the bonds on January 1, 2019. 2. Compute for the bonds outstanding for the year 2022. 3. Compute for the gain or loss on retirement. (Note: If it is a loss, use negative sign. Example, -1,000.)
JJ Company issued an 8%, P8,400,000 bonds at 120 on January 1, 2019. Interest on these bonds is paid every June 30 and December 31. Moreover, bonds mature every December 31 at the following rates: 2020, P1,800,000; 2022, P3,000,000; 2023, P1,500,000; and 2024, 2,100,000, respectively. On December 31, 2020, P800,000 bonds maturing on December 31, 2023 were retired at 98.
1. Compute for the issue price of the bonds on January 1, 2019.
2. Compute for the bonds outstanding for the year 2022.
3. Compute for the gain or loss on retirement. (Note: If it is a loss, use negative sign. Example, -1,000.)
3. Compute for the gain or loss on retirement. (Note: If it is a loss, use negative sign. Example, -1,000.)
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