Question
On August 1, 2012, White Co. acquired Black Co. bonds with a face value of P90,000 at 95 plus accrued interest. Interest of 12% per
On August 1, 2012, White Co. acquired Black Co. bonds with a face value of P90,000 at 95 plus accrued interest. Interest of 12% per annum is payable semi-annually on April 1 and October 1. The bonds were issued on April 1, 2012. Bonds of P30,000 mature at annual interval beginning April 1, 2013.
Required:
a) Prepare the amortization table following the bond outstanding method.
b) Prepare entries related to the bonds for the year 2012-2014.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
