On March 1, 2014, Khaleesi Company issued 10-year P5,000,000 8% term bonds dated March 1, 2014and will mature on March 1, 2024. The bonds were sold to yield 10%, total proceeds received by Khaleesiis equivalent to the market value plus accrued interest. Interest is paid every March 1 and September 1.14) What is the balance of unamortized premium/discount in the statement of financial position as ofDecember 31, 2020?

Unamortized discount on bonds payable of 333,906

On March 1, 2014, Khaleesi Company issued 10-year P5,000,000 8% term bonds dated March 1, 2014 and will mature on March 1, 2024. The bonds were sold to yield 10%, total proceeds received by Khalees is equivalent to the market value plus accrued interest. Interest is paid every March 1 and September 1. 14) What is the balance of unamortized premium/discount in the statement of financial position as of December 31, 2020?

On March 1, 2014, Khaleesi Company issued 10-year P5,000,000 8% term bonds dated March 1, 2014 and will mature on March 1, 2024. The bonds were sold to yield 10%, total proceeds received by Khalees is equivalent to the market value plus accrued interest. Interest is paid every March 1 and September 1. 14) What is the balance of unamortized premium/discount in the statement of financial position as of December 31, 2020?

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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