Berry Co. issued P800,000 of 12% face value bonds for P851,706. The bonds which were dated and issued on April 1, 2017, are due March 31, 2021, and pay interest semiannually on September 30 and March 31. The company sold the bonds to yield 10%. How much is carrying value of the bonds payable as of December 31, 2017?

Berry Co. issued P800,000 of 12% face value bonds for P851,706. The bonds which were dated and issued on April 1, 2017, are due March 31, 2021, and pay interest semiannually on September 30 and March 31. The company sold the bonds to yield 10%. How much is carrying value of the bonds payable as of December 31, 2017?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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