On June 30, 2021 the market interest rate is 10% winner corporation issues $850,000 of 11% 30 year bonds payable the bonds pay interest on June 30 and December 31 the company amortize bond premium using the effective interest method use the PV function in excel to calculate the issue of the bonds. The issue price of the bond is.

On June 30, 2021 the market interest rate is 10% winner corporation issues $850,000 of 11% 30 year bonds payable the bonds pay interest on June 30 and December 31 the company amortize bond premium using the effective interest method use the PV function in excel to calculate the issue of the bonds. The issue price of the bond is.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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You found the following ledger account balances of ABC Corporation: 12% Bonds Payable, due March 31, 2020 10/1/17 3,060,000 3/31/15 10,000,000 Premium on Bonds Payable 3/31/15 772,144 Bond Interest Expense 3/31/17 600,000 9/30/17 600,000 The bonds pay interest semiannually on March 31 and September 30. The bonds were issued on March 31 at a price yield 10%. On October 1, 2017, P3,000,000 of the bonds were redeemed for permanent cancellation at 102.
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Subject: acounting
What is the interest revenue for 2016 and the carrying amount of the debt investment at amortized cost on Decemeber 31, 2016
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