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On May 1,2020, ABC Corporation issued a 5-year, 10%, 1,000 of the P 5,000 face value bonds with a yield of 12%. The bonds is payable in series of five equal annual installments every April 30 and pays annual interest based on the outstanding balance starting on April 30,2020. As of December 31,2021, how much is the carrying value of the bonds to be presented in the Statement of Financial Position of ABC Corporation? (For present value factors, do not round off) * O P 3,839,558.22 O P4,146,722.88 O P 2,900,305.21 O P 3,880,056.22

On May 1,2020, ABC Corporation issued a 5-year, 10%, 1,000 of the P 5,000 face value bonds with a yield of 12%. The bonds is payable in series of five equal annual installments every April 30 and pays annual interest based on the outstanding balance starting on April 30,2020. As of December 31,2021, how much is the carrying value of the bonds to be presented in the Statement of Financial Position of ABC Corporation? (For present value factors, do not round off) * O P 3,839,558.22 O P4,146,722.88 O P 2,900,305.21 O P 3,880,056.22

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 May 1,2020, ABC Corporation issued a 5-year, 10%, 1,000 of the P 5,000 face value bonds with a yield of 12%. The bonds is payable in series of five equal annual installments every April 30 and pays annual interest based on the outstanding balance starting on April 30,2020. As of December 31,2021, how much is the carrying value of the bonds to be presented in the Statement of Financial Position of ABC Corporation? (For present value factors, do not round off) * O P 3,839,558.22 O P4,146,722.88 O P 2,900,305.21 O P 3,880,056.22
Transcribed Image Text:On May 1,2020, ABC Corporation issued a 5-year, 10%, 1,000 of the P 5,000 face value bonds with a yield of 12%. The bonds is payable in series of five equal annual installments every April 30 and pays annual interest based on the outstanding balance starting on April 30,2020. As of December 31,2021, how much is the carrying value of the bonds to be presented in the Statement of Financial Position of ABC Corporation? (For present value factors, do not round off) * O P 3,839,558.22 O P4,146,722.88 O P 2,900,305.21 O P 3,880,056.22
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