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On July 1. 2000. Car issued 9% bonds in the face amount of P1.000.000. which mature on July 1, 2010. The bonds were issued for P939,000 to yield 10% resulting in a bond discount of P61,000. Car uses the interest method amortizing bond discount. Interest is payable annually on June 30. At June 30, 2002, Car's unamortized bond discount should be: P52,810 P51,000 P48,800 P43,000

On July 1. 2000. Car issued 9% bonds in the face amount of P1.000.000. which mature on July 1, 2010. The bonds were issued for P939,000 to yield 10% resulting in a bond discount of P61,000. Car uses the interest method amortizing bond discount. Interest is payable annually on June 30. At June 30, 2002, Car's unamortized bond discount should be: P52,810 P51,000 P48,800 P43,000

FINANCIAL ACCOUNTING
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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On July 1. 2000. Car issued 9% bonds in the face amount of P1.000.000. which mature on July 1, 2010. The bonds were issued for P939,000 to yield 10% resulting in a bond discount of P61,000. Car uses the interest method amortizing bond discount. Interest is payable annually on June 30. At June 30, 2002, Car's unamortized bond discount should be: P52,810 P51,000 P48,800 P43,000
Transcribed Image Text:On July 1. 2000. Car issued 9% bonds in the face amount of P1.000.000. which mature on July 1, 2010. The bonds were issued for P939,000 to yield 10% resulting in a bond discount of P61,000. Car uses the interest method amortizing bond discount. Interest is payable annually on June 30. At June 30, 2002, Car's unamortized bond discount should be: P52,810 P51,000 P48,800 P43,000
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