37. On January 1, 20x1, Impressed Co. acquired 8%, P1,000,000 face amount, 4-year 'term' bonds for P936,603. The bonds are measured at amortized cost and have a yield rate of 10%. How much is the carrying amount of the investment on December 31, 20x2? a. 1,000,000 b. 950,263 c. 965,289 d. 981,818
37. On January 1, 20x1, Impressed Co. acquired 8%, P1,000,000 face amount, 4-year 'term' bonds for P936,603. The bonds are measured at amortized cost and have a yield rate of 10%. How much is the carrying amount of the investment on December 31, 20x2? a. 1,000,000 b. 950,263 c. 965,289 d. 981,818
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![37. On January 1, 20x1, Impressed Co. acquired 8%, F1,000,000 face amount, 4-year
'term' bonds for P936,603. The bonds are measured at amortized cost and have
a yield rate of 10%. How much is the carrying amount of the investment on
December 31, 20x2?
a. 1,000,000
b. 950,263
c. 965,289
d. 981,818](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8ea88882-4067-49de-8eff-eee3f6afc7f0%2Fea0e1c23-4037-4c16-af2a-3eff794ff653%2Fgzoq0hk_processed.png&w=3840&q=75)
Transcribed Image Text:37. On January 1, 20x1, Impressed Co. acquired 8%, F1,000,000 face amount, 4-year
'term' bonds for P936,603. The bonds are measured at amortized cost and have
a yield rate of 10%. How much is the carrying amount of the investment on
December 31, 20x2?
a. 1,000,000
b. 950,263
c. 965,289
d. 981,818
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