A corporation issued $580000, 10%, 5-year bonds on January 1, 2020 for $626400, which reflects an effective-interest rate of 7%. Interest is paid annually on January 1. If the corporation uses the effective-interest method of amortization of bond premium, the amount of bond interest expense to be recognized on December 31, 2020, is
a.$40600.
b.$43848.
c.$58000.
d.$62640.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A corporation issued $580000, 10%, 5-year bonds on January 1, 2020 for $626400, which reflects an effective-interest rate of 7%. Interest ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Choose the answer which best describes the relationship between the attribute given for a financial statement account and the likely reliance on substantive analytical procedures for that account within an audit: Adequacy of Internal Controls Risk
Answers (1)
Shown below is a trial balance for novelty toys, inc., on december 31, after adjusting entries: novelty toys, inc.
Answers (1)
Prepare the journal entries for the following petty cash transactions of LintonGaming Supplies:Feb. 1Established a petty cash fund with a $ 150balance.
Answers (1)
What do we call an economy that is both partly command and partly market? a. It is still a command economy if the government controls any part of it. b. It is still called a market economy if it has any free markets. c.
Answers (1)
Departmental overhead rates are generally preferred to plant-wide overhead rates when:a) the activities of the various departments in the plant are not homogeneous. b) the activities of the various departments in the plant are homogeneous.
Answers (1)
New Questions in Business
Gas stations, supermarkets, and airlines that have unstaffed check-out or check-in terminals are providing what level of retail service? Multiple Choice A) self-service B) limited-service C) automated-service D) full-service E) customized-service
Answers (1)
Jeff is a financial advisor. he belongs to two different organizations for financial advisors, and he likes to go to their annual meetings. the financial organizations that jeff belongs to are examples of
Answers (1)
Distinguish between the costs of having a basic checking account and an interest-bearing checking account.
Answers (1)
Kendall borrowed $782,000 on a construction loan at 10% interest on January 1, 2021. This loan was outstanding throughout the construction period. The company had $4,660,000 in 7% bonds payable outstanding in 2021 and 2022.
Answers (1)
Jose is considering renting an apartment. He will need to make a?, which the landlord will return 21 days after the end of the rental agreement. He will also need to fill out a?.
Answers (1)