Question
Analyzing and Reporting Financial Statement Effects of Bond Transactions On January 1, 2012, Trueman Corporation issued $800,000 of 20-year, 11% bonds for $739,815, yielding a
Analyzing and Reporting Financial Statement Effects of Bond Transactions
On January 1, 2012, Trueman Corporation issued $800,000 of 20-year, 11% bonds for $739,815, yielding a market (yield) rate of 12%. Interest is payable semiannually on June 30 and December 31.
(a) Confirm the bond issue price.(Use a financial calculator or Excel to compute. Round answers to the nearest whole number.)
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Financial Reporting And Analysis
Authors: Lawrence Revsine, Daniel Collins
4th Edition
0073527092, 978-0073527093
