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PDA

Ligaya Fuentes
Mar 4, 2009, 08:02 AM
ABC Corporation issued P 8,000,000 face value 12% bonds on April 1, 2008. The bonds are dated April 1, 2008 and pay interest semi - annually on April 1 and October 1. The term of the bonds is 8 years.

CASE A = bonds are issued @<hidden> = 104
CASE B = bonds are issued @<hidden> = 98
CASE C = bonds are issued @<hidden> par

REQUIRED FOR EACH CASE:
1. entries for 2008 and 2008
2. Amortization of premium or discount on 2008 and 2009
3. Interest expense for 2008 and 2009
4. Carrying value of bonds on December 31, 2008 and December 31, 2009
5. Entry to the retirement of bonds on maturity date.

I need help for my assignment. Thanks:mad: