Question
A company issues $15,000,000, 5.8%, 20-year bonds to yield 6% on January 1, 2017. Interest is paid on June 30 and December 31. The proceeds
A company issues $15,000,000, 5.8%, 20-year bonds to yield 6% on January 1, 2017. Interest is paid on June 30 and December 31. The proceeds from the bonds are $14,653,278. Using effective-interest amortization, what will the carrying value of the bonds be on the June 30, 2017 balance sheet?
A. $14,653,278 B. $15,000,000 C. $14,657,876 D. $14,121,000
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Wiley Federal Government Auditing Laws Regulations Standards Practices And Sarbanes Oxley
Authors: Cornelius E. Tierney, Edward F. Kearney, Roldan Fernandez, Jeffrey W. Green, Kearney & Company
1st Edition
0471740489, 978-0471740483
