63,) A company issued a P3,000,000, 6-year bonds dated January 1, 2021, with a stated interest rate of 11%. Interest on the bonds is payable annually every December 31 of each year. The company's bonds were sold to yield 14%. On May 1, 2022, the company retired P 1,000,000 face value bonds at 101. How much is the gain or loss on retirement of bonds taken to profit or loss? A company issued a P3 million three-year non-interest-bearing note on January 1, 2021, for a piece of land. The note was payable in three equal annual installments every December 31 starting December 31, 2021. The cash price equivalent of the land on January 1, 2021, was P2,401,800. What is the balance of the discount on notes payable on December 31, 2021?
63,) A company issued a P3,000,000, 6-year bonds dated January 1, 2021, with a stated interest rate of 11%. Interest on the bonds is payable annually every December 31 of each year. The company's bonds were sold to yield 14%. On May 1, 2022, the company retired P 1,000,000 face value bonds at 101. How much is the gain or loss on retirement of bonds taken to profit or loss? A company issued a P3 million three-year non-interest-bearing note on January 1, 2021, for a piece of land. The note was payable in three equal annual installments every December 31 starting December 31, 2021. The cash price equivalent of the land on January 1, 2021, was P2,401,800. What is the balance of the discount on notes payable on December 31, 2021?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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63,) A company issued a P3,000,000, 6-year bonds dated January 1, 2021, with a stated interest rate of 11%. Interest on
the bonds is payable annually every December 31 of each year. The company's bonds were sold to yield 14%. On May 1, 2022, the company retired P 1,000,000 face value bonds at 101. How much is the gain or loss on retirement of bonds taken to profit or loss?
A company issued a P3 million three-year non-interest-bearing note on January 1, 2021, for a piece of land. The note was payable in three equal annual installments every December 31 starting December 31, 2021. The cash price equivalent of the land on January 1, 2021, was P2,401,800. What is the balance of the discount on notes payable on December 31, 2021?
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