What is the correct answer? The total interest paid on $46,000, ten-year, 6 percent bonds that are issued at 98 is a. $28,520. b. $26,680. c. $28,060. d. $27,600.
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What is the correct answer?
The total interest paid on $46,000, ten-year, 6 percent bonds that are issued at 98 is
a. $28,520.
b. $26,680.
c. $28,060.
d. $27,600.
Step by step
Solved in 2 steps
- The total interest paid on $46,000, ten-year, 6 percent bonds that are issued at 98 is a. $28,520. b. $26,680. c. $28,060. d. $27,600.What is the correct answer? The semi-annual interest expense to be recorded using the straight line method of interest amortization on $46,000, ten-year, 6 percent bonds that are issued at 98 is a. $1,426 b. $1,380 c. $1,334 d. $2,852If $457,000 of 8% bonds are issued at 94, what is the amount of cash received from the sale? Select the correct answer. A. $420,440 B. $457,000 C. $429,580 D. $493,560
- If the bonds payable account has a balance of $900,000 and the discount on bonds payable account has a balance of $72,000, what is the carrying amount of bonds? A. $828,000 B. $900,000 C. $972,000 D. $580,000Bonds Payable has a balance of $908,000 and Premium on Bonds Payable has a balance of $9,988. If the issuing corporation redeems the bonds at 102, what is the amount of gain or loss on redemption? a.$8,172 gain b.$9,988 loss c.$9,988 gain d.$8,172 lossBonds Payable has a balance of $909,000 and Premium on Bonds Payable has a balance of $9,999. If the issuing corporation redeems the bonds at 102, what is the amount of gain or loss on redemption? a.$9,999 gain b.$8,181 gain c.$9,999 loss d.$8,181 loss
- Calculate the total amount of interest expense over the life of the bonds for the following independent situations. a. $100,000 face value, 10%, 10-year bonds issued at 101. $ b. $240,000 face value, 5%, 5-year bonds issued at 100. $ c. $300,000 face value, 9%, 6-year bonds issued at 98.Bonds Payable has a balance of $880,000 and Premium on Bonds Payable has a balance of $9,680. If the issuing corporation redeems the bonds at 102, what is the amount of gain or loss on redemption? Oa. $7,920 loss Ob. $9,680 gain Oc. $7,920 gain Od. $9,680 lossBonds Payable has a balance of $1,137,000 and Discount on Bonds Payable has a balance of $13,644. If the issuing corporation redeems the bonds at 98, what is the amount of gain or loss on redemption? a.$13,644 loss b.$9,096 loss c.$9,096 gain d.$13,644 gain
- O B. $3,500 loss. C. $3,500 gain. D. $1,500 gain. QUESTION 6 Lidl Company issues 896, 10-year.bonds with a par value of BD100,000 that pay interest semiannually. The amount paid to the bondholders for each semiannual interest payment is: O A. BD80,000. OB. BD40,0000. O C. BD4,000. O D. BD8,000. QUESTION 7 The following information is available to prepare a company's statement of cash flows for the year just ended: Loss on sale of equipment Purchase of equipment $7,000 112,500 Click Save and Submit to save and submit. Click Save AlLAnswers to save all answers. Save All AnsBonds Payable has a balance of $1,000,000 and Discount on Bonds Payable has a balance of $12,500. If the issuing corporation redeems the bonds at 99, what is the amount of gain or loss on redemption?If $1,000,000 of 10% bonds are issued at 98, the amount of cash received from the sale is: O a. $987,500. Ob. $980,000. c. $1,000,000. Od. $975,000.
