Discount-Mart issues $17 million in bonds on January 1, 2021. The bonds have a eight-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds: Date 01/01/2021 06/30/2021 $850,000 12/31/2021 850,000 850,000 850,000 06/30/2022 12/31/2022 Cash Paid Multiple Choice What is the interest expense on the bonds in 2021? $1,700,000. $1,837,855. Interest Expense $916,920. $916,920 920,935 925, 191 929,703 Increase in Carrying Value $66,920 70,935 75,191 79,703 Carrying Value $15,281,998 15,348,918 15,419,853 15,495,044 15,574,747
Discount-Mart issues $17 million in bonds on January 1, 2021. The bonds have a eight-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds: Date 01/01/2021 06/30/2021 $850,000 12/31/2021 850,000 850,000 850,000 06/30/2022 12/31/2022 Cash Paid Multiple Choice What is the interest expense on the bonds in 2021? $1,700,000. $1,837,855. Interest Expense $916,920. $916,920 920,935 925, 191 929,703 Increase in Carrying Value $66,920 70,935 75,191 79,703 Carrying Value $15,281,998 15,348,918 15,419,853 15,495,044 15,574,747
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
9,9
![9 Quiz i
Date
01/01/2021
06/30/2021
12/31/2021
06/30/2022
12/31/2022
Discount-Mart issues $17 million in bonds on January 1, 2021. The bonds have a eight-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization
schedule for the bonds:
Multiple Choice
O
Dends $20 of their
/play.goo
Culator
What is the interest expense on the bonds in 2021?
Cash Paid
$850,000 $916,920
850,000
920,935
850,000
850,000
$1,700,000.
$1,837,855.
S
Interest
Expense
$916,920.
925, 191
929,703
Highlight All
JUL 1
10
Increase in
Carrying Value
$66,920
70,935
75,191
79,703
Match Case
6
Carrying
Value
$15,281,998
15,348,918
15,419,853
15,495,044
15,574,747
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9 of 10
Whole Words
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Transcribed Image Text:9 Quiz i
Date
01/01/2021
06/30/2021
12/31/2021
06/30/2022
12/31/2022
Discount-Mart issues $17 million in bonds on January 1, 2021. The bonds have a eight-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization
schedule for the bonds:
Multiple Choice
O
Dends $20 of their
/play.goo
Culator
What is the interest expense on the bonds in 2021?
Cash Paid
$850,000 $916,920
850,000
920,935
850,000
850,000
$1,700,000.
$1,837,855.
S
Interest
Expense
$916,920.
925, 191
929,703
Highlight All
JUL 1
10
Increase in
Carrying Value
$66,920
70,935
75,191
79,703
Match Case
6
Carrying
Value
$15,281,998
15,348,918
15,419,853
15,495,044
15,574,747
< Prev
Saved
Match Diacritics
+
9 of 10
Whole Words
Score answer >
MacBook Air
-
5
Help
lo
Save & Exit
U
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