Alyssa Company issued P 10,000,000 bonds on January 1, 2021. The bonds pay interest annually at 10% on the outstanding bond balance. The face value of the bonds is payable in installments of P 2,000,000 every December 31 starting December 31, 2021. The bonds were sold to yield 14%.What is the issue price of the bonds on January 1, 2021? Do not round off your present value factors but round off to two decimal places the final answer. How much cash was paid on December 31, 2025? Do not round off your present value factors but round off to two decimal places the final answer. How much cash was paid on December 31, 2024? Do not round off your present value factors but round off to two decimal places the final answer. What is the balance of the Discount on Bonds Payable on December 31, 2021 ? Do not round off your present value factors but round off to two decimal places the final answer. What is the interest expense on December 31, 2025? Do not round off your present value factors but round off to two decimal places the final answer. What is the current portion of the liability on December 31, 2021? Do not round off your present value factors but round off to two decimal places the final answer. What is the current portion of the liability on December 31, 2022? Do not round off your present value factors but round off to two decimal places the final answer.

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Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

ChapterMB: Model-building Problems

Section: Chapter Questions

Problem 13M

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Alyssa Company issued P 10,000,000 bonds on January 1, 2021. The bonds pay interest annually at 10% on the outstanding bond balance. The face value of the bonds is payable in installments of P 2,000,000 every December 31 starting December 31, 2021. The bonds were sold to yield 14%.

What is the issue price of the bonds on January 1, 2021? Do not round off your present value factors but round off to two decimal places the final answer.
How much cash was paid on December 31, 2025? Do not round off your present value factors but round off to two decimal places the final answer.
How much cash was paid on December 31, 2024? Do not round off your present value factors but round off to two decimal places the final answer.
What is the balance of the Discount on Bonds Payable on December 31, 2021 ? Do not round off your present value factors but round off to two decimal places the final answer.
What is the interest expense on December 31, 2025? Do not round off your present value factors but round off to two decimal places the final answer.
What is the current portion of the liability on December 31, 2021? Do not round off your present value factors but round off to two decimal places the final answer.
What is the current portion of the liability on December 31, 2022? Do not round off your present value factors but round off to two decimal places the final answer.

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