On December 31, 2022, QUIAMBAO CORP. issued serial bonds with face value of P4,000,000 and a stated 10% interest rate, payable annually every December 31. The bonds are issued on this date with a 12% effective yield. The bonds mature at an annual installment of P1,000,000 every December 31, starting December 31, 2023. Use PV factors rounded to THREE decimal places. What is the carrying amount of the serial bonds on December 31, 2022? 2,829,000 3,842,000 2,903,000 3,903,000

On December 31, 2022, QUIAMBAO CORP. issued serial bonds with face value of P4,000,000 and a stated 10% interest rate, payable annually every December 31. The bonds are issued on this date with a 12% effective yield. The bonds mature at an annual installment of P1,000,000 every December 31, starting December 31, 2023. Use PV factors rounded to THREE decimal places. What is the carrying amount of the serial bonds on December 31, 2022? 2,829,000 3,842,000 2,903,000 3,903,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 4EA: On January 1, 2018, Wawatosa Inc. issued 5-year bonds with a face value of $200,000 and a stated...

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