Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 5 of 22 -/25 ini View Policies Current Attempt in Progress Presented below is an amortization schedule related to Bramble Company's 5-year $ 150.000

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Question 5 of 22 -/25 ini View Policies Current Attempt in Progress Presented below is an amortization schedule related to Bramble Company's 5-year $ 150.000 bond with a 7% interest rate and a 4% yield, purchased on December 31, 2018, for $ 170,034 Cash Received Interest Revenue Bond Premium Amortization Carrying Amount of Bonds Date 12/31/18 $ 170,034 12/31/19 166,335 $ 6,801 $ 10,500 $3,699 12/31/20 10,500 6,653 3,847 162.488 10,500 12/31/21 6,500 158,488 4,000 154,328 4,160 6,340 10,500 12/31/22 150,000 4,328 10,500 12/31/23 6.172 The following schedule presents a comparison of the amortized cost and fair value of the bonds at year-end. 12/31/21 12/31/23 12/31/22 12/31/20 12/31/19 $ 154,328 $ 150.000 $ 158.488 $ 162,488 $ 166,335 Amortized cost $ 150,000 $ 155,400 $164,700 $ 160,400 $ 165,800 Fair value Question 5 of 22

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cross-Border Mergers And Acquisitions UK Dimensions

Authors: Moshfique Uddin, Agyenim Boateng

1st Edition

0415836603, 9780415836609

More Books

Students also viewed these Accounting questions