Write the complete solutions legibly. Problem 4. On January 1, 2023, Joseph & Benjamin Company purchased ten-year bonds with a face amountof P8,000,000. The stated interest rate is 9% per year payable annually every December 31. The bonds wereacquired to yield 8%. (Round all amounts to the nearest peso.)= 0.4224====6.41776.7100Present value of 1 for 10 periods at 9%Present value of 1 for 10 periods at 8% = 0.4632Present value of an annuity of 1 for 10 periods at 9%Present value of an annuity of 1 for 10 periods at 8%How much is the market price of the bond?How much is the carrying amount of the bond on December 31, 2023?

Bond : Bond is one of the way that company raises finance it issues Bonds at a certain value…

Problem 4. On January 1, 2023, Joseph & Benjamin Company purchased ten-year bonds with a face amount of P8,000,000. The stated interest rate is 9% per year payable annually every December 31. The bonds were acquired to yield 8%. (Round all amounts to the nearest peso.) = 0.4224 = 0.4632 = = 6.4177 6.7100 Present value of 1 for 10 periods at 9% Present value of 1 for 10 periods at 8% Present value of an annuity of 1 for 10 periods at 9% Present value of an annuity of 1 for 10 periods at 8% How much is the market price of the bond? How much is the carrying amount of the bond on December 31, 2023?

Problem 4. On January 1, 2023, Joseph & Benjamin Company purchased ten-year bonds with a face amount of P8,000,000. The stated interest rate is 9% per year payable annually every December 31. The bonds were acquired to yield 8%. (Round all amounts to the nearest peso.) = 0.4224 = 0.4632 = = 6.4177 6.7100 Present value of 1 for 10 periods at 9% Present value of 1 for 10 periods at 8% Present value of an annuity of 1 for 10 periods at 9% Present value of an annuity of 1 for 10 periods at 8% How much is the market price of the bond? How much is the carrying amount of the bond on December 31, 2023?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 4EA: On January 1, 2018, Wawatosa Inc. issued 5-year bonds with a face value of $200,000 and a stated...

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