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Serggg [28]
3 years ago
9

On January 2, 20X4, West Co. issued 9% bonds in the amount of $500,000, which mature on January 2, 20X24. The bonds were issued

for $469,500 to yield 10%. Interest is payable annually on December 31. West uses the interest method of amortizing bond discount. In its June 30, 20X4, balance sheet, what amount should West report as bonds payable?
Business
1 answer:
ehidna [41]3 years ago
5 0

Answer:

$470,425

Explanation:

The computation of the amount reported as bond payable is shown below:

<u>Particulars  Interest at 4.5% Interest at 5%  Amortized  UnAmortized  CV</u>

<u>                                                                             discount     discount </u>

Starting value                                                                        $30,500  $469,500    

                                                              ($500,000 - $469,500)  

June 30         $22,500         $23,475                $975        $29,525  $470,425

  ($500,000 × 4.5%)            ($469500 × 5%)

The six months rate would be the half of the rates given in the question

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3 years ago
Which economic system best defines: Lowest amount of economic freedom?
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Answer:

command economy

Explanation:

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3 years ago
When the cross price elasticity between good X and other related goods is positive and very low firm X can be assumed to have?
geniusboy [140]

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3 0
3 years ago
When evaluating an investment, the MNC should consider the ____________ cash flows generated by the project.
Nuetrik [128]

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3 years ago
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Answer:

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The price earnings ratio = 76 / 4  =  19 / 1   or 19:1

7 0
3 years ago
Read 2 more answers
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