Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

on october 1, 2020, shane company issued 5,000 12% bonds with face amount of P 1,000 per bond at 110. the bonds which mature on

  1. on october 1, 2020, shane company issued 5,000 12% bonds with face amount of P 1,000 per bond at 110. the bonds which mature on jan 1 2025, pay interest semiannually on jan 1 and july 1. the entity pad bond issue cost of 200,000. how much cash was received from the issuance of bonds?

a. 5,450,000

b. 5,650,000

c. 5,300,000

d. 5,550,000

2 . onapril 1,2020, Greg company issued at 99 plus accrued interest, 4,000 8% bonds with face amount of P 1,000 per bond. the bonds are dated january 1,2020, mature on january 1. 2030, and pay interest on january 1 and july 1. the entity paid bond issue cost of P140,000. how much cash was received from the bonds issuance?

a. 4,040,000

b. 3,960,000

c. 3,900,000

d. 3,820,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Hospitals What They Are And How They Work

Authors: Don Griffin, Donald J Griffin

3rd Edition

076372758X, 9780763727581

More Books

Students also viewed these Accounting questions