Question
On January 1, 2014, Bar Company issued its 10year, 10% semiannual coupon bond with a face value of $7,000,000 when the market rate is 12%.
On January 1, 2014, Bar Company issued its 10year, 10% semiannual coupon bond with a face value of $7,000,000 when the market rate is 12%. What is the carrying amount of the bond at December 31, 2016?
a.$6,349,351
b.$6,361,074
c.$7,000,000
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AQA AS Accounting Unit 2 Financial And Management Accounting
Authors: Brendan Casey
1st Edition
1500684260?, 978-1500684266
