Answered step by step
Verified Expert Solution
Question
1 Approved Answer
help me please thank you Use the following information for the next five (5) questions: On January 1, 2015. Spewpa Co. issued 4 year bond
help me please thank you
Use the following information for the next five (5) questions: On January 1, 2015. Spewpa Co. issued 4 year bond with a face value of P2,000,000 and stated interest 8% payable annually every December 31. The company received P1,898,205 and incurred P25,000 of transaction cost. The bonds were retired on January 1, 2018 at 105 and incurred a transaction cost of P20,000. QUESTIONS: 32) How much is the initial carrying amount of the bonds on January 1, 2015? Answer: 33) What is the effective interest rate for the bond? Answer: 34) How much is the interest expense for 2015? Answer: 35) How much is the carrying amount of the liability on December 31, 2016? Answer: 36) How much is the gain (oss) on derecognition Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started