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ladessa [460]
3 years ago
6

On January 1, 2020, Cougar Sales, Inc. issued $15,000 in bonds for $14,700. They were 6-year bonds with a stated rate of 9%, and

pay semiannual interest. Cougar Sales, Inc. uses the straight-line method to amortize the Bond Discount. On June 30, 2020, when Carter makes the first payment to bondholders, how much will they report as Interest Expense?
Business
1 answer:
PSYCHO15rus [73]3 years ago
4 0

Answer:

$700

Explanation:

If a bond is issued at a lower price than the face value of the bond, then the bond is issued on the discount. This discount is amortized over the bond's life. This amortization will be expensed as Interest Expense.

Discount = Face value - Issuance price = $15,000 - $14,700 = $300

Bond's Life = 6 years

Amortization of discount = $300 / 6 = $50 annually = $25 semiannually

Coupon Payment = Face Value x coupon Rate = $15,000 x 9% = $1.350 annually = $675 semiannually

Interest Expense Includes both the coupon payment and discount amortization for the period.

Interest Expense = $675 + $25 = $700

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<h3><u>LIV golf - what is it?</u></h3>

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4 0
1 year ago
Sanctions are a type of trade restriction that is ineffective in forcing change in other countries.
Nikolay [14]

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3 0
3 years ago
A _________ specializes in developing plans and recommendations that meet the software and system needs of an organization.
Gwar [14]

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netineya [11]

Answer:

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II. Acquire the data

III. Develop the model

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V. Do the results look right.

Explanation:

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