Question
HAPHAZARD BY CHANCE Co. issued 12%, P4,000,000 bonds on January 1, 20x1 at a price that reflects a yield rate of 10%. The bonds, which
HAPHAZARD BY CHANCE Co. issued 12%, P4,000,000 bonds on January 1, 20x1 at a price that reflects a yield rate of 10%. The bonds, which are term bonds, mature on December 31, 20x3. How much is the carrying amount of the bonds in HAPHAZARD Co.'s first quarter financial statements covering the months of January to March 20x1?
a. 4,198,948
b. 4,303,921
c. 4,183,923
d. 4,404,314
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith
7th edition
1118983270, 978-1119175025, 111917502X, 978-1119175001, 978-1118983270
