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Which Pay Interest Semi-annually On June 30, And December 31. The Bonds Were Sold For $187,580.41, Since The Market Was 12%. In Addition, On July
Which Pay Interest Semi-annually On June 30, And December 31. The Bonds Were Sold For $187,580.41, Since The Market Was 12%. In Addition, On July 1, 2019, The Company Issued Ad- Ditional Bonds With A Face Value Of $400,000 That Mature On June 30, 2029 For $427,355.48, ...
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See the answerOn January 1, 2018, "ABC" Company issued $200,000, 10%, 4 years callable bonds at 105, which pay interest semi-annually on June 30, and December 31. The bonds were sold for $187,580.41, since the market was 12%. In addition, On July 1, 2019, the company issued ad- ditional bonds with a face value of $400,000 that mature on June 30, 2029 for $427,355.48, since the market rate was 8%. The new bonds are non-callable bonds that has a stated rate of 9% payable every 3 months on March 31, June 30, September 30, and December 31. Moreover, on July 1, 2020, "ABC" Company called 30% of its outstanding bonds.
: What is the amount of interest expense that must be presented on "ABC" Company income statement for the year ended December, 31, 2018?
: What is the amount of interest expense that must be presented on "ABC" Company income statement for the year ended December, 31, 2019
: What is the amount of interest expense that must be presented on "ABC" Company income statement for the year ended December, 31, 2020?
: In the space below, show the presentation on the current and non-current liability on the statement of financial position as on 31/12/2020
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