Question
On January 1, 2018, Swifty Corporation issued its 11% bonds in the face amount of $8050000, which mature on January 1, 2028. The bonds were
On January 1, 2018, Swifty Corporation issued its 11% bonds in the face amount of $8050000, which mature on January 1, 2028. The bonds were issued for $9760000 to yield 9%, resulting in bond premium of $1710000. Swifty uses the effective-interest method of amortizing bond premium. Interest is payable annually on December 31. At December 31, 2018, Swifty's adjusted unamortized bond premium should be
| $1508500. |
| $1710000. |
| $1702900. |
| $1521900 |
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Electronic Working Papers For Needles Powers Crossons Financial And Managerial Accounting 9th And Crosson Needles Managerial Accounting
Authors: Susan V. Crosson, Belverd E. Needles
9th Edition
0538791918, 978-0538791915
