On January 1, 2015, Tyrion Company issued P4,000,000 maturity value, 12% bonds for P4,000,000 cash. The bonds are dated December 31, 2014 and mature on December 31, 2024. Interest will be paid semiannually on July 1 and January 1. What is the amount of total liability to be reported in the September 30, 2015 statement of financial position?

On January 1, 2015, Tyrion Company issued P4,000,000 maturity value, 12% bonds for P4,000,000 cash. The bonds are dated December 31, 2014 and mature on December 31, 2024. Interest will be paid semiannually on July 1 and January 1. What is the amount of total liability to be reported in the September 30, 2015 statement of financial position?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 15MC: Naval Inc. issued $200,000 face value bonds at a discount and received $190,000. At the end of 2018,...

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