On August31,2021, DASHER Company issue dat 104 plus accrued interest, three thousand 10% bonds with a face amount of ₱1,000 per bond.The bonds are dated April 1, 2021, mature on March 31, 2026, and pay interest every April 1 and October 1 . The bonds were issued through an under writer to whom the entity paid bond issue cost of ₱120,000. How much is the initial valuation or carrying value of the bonds upon recognition?

On August31,2021, DASHER Company issue dat 104 plus accrued interest, three thousand 10% bonds with a face amount of ₱1,000 per bond.The bonds are dated April 1, 2021, mature on March 31, 2026, and pay interest every April 1 and October 1 . The bonds were issued through an under writer to whom the entity paid bond issue cost of ₱120,000. How much is the initial valuation or carrying value of the bonds upon recognition?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 5PA: Volunteer Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July...

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