On January 1, Besalius Inc. issued $1,000,000, 9% bonds for $938,554. The market rate of interest for
Question:
On January 1, Besalius Inc. issued $1,000,000, 9%
bonds for $938,554. The market rate of interest for these bonds is 10%. Interest is payable annually on December 31. Besalius uses the effective-interest method of amortizing bond discount. At the end of the first year, Besalius should report unamortized bond discount of:
(a) $54,900.
(b) $57,591.
(c) $51,610.
(d) $51,000.
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b The beginning balance of unamortized bond discount is 61446 1000000 938554 The disco...View the full answer
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Related Book For
Financial Accounting
ISBN: 9781119298229,9781119305842
10th Edition
Authors: Jerry J. Weygandt , Donald E. Kieso , Paul D. Kimmel
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