The premium on an outstanding 12% P5,000,000 bonds payable was amortized for P46,675 during 2023, resulting to its yearend carrying amount of P5,486,580. 1.How much is the interest expense for 2024? 2 How much is the carrying amount of the bonds as of yearend 2024? 3 .How much are the proceeds assuming the bonds were issued on January 1, 2021?

The premium on an outstanding 12% P5,000,000 bonds payable was amortized for P46,675 during 2023, resulting to its yearend carrying amount of P5,486,580. 1.How much is the interest expense for 2024? 2 How much is the carrying amount of the bonds as of yearend 2024? 3 .How much are the proceeds assuming the bonds were issued on January 1, 2021?

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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Hh1.
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5.
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