On January 2, $217981 in 10-year, 5% bonds with a market interest rate of 9%, and interest
Question:
On January 2, $217981 in 10-year, 5% bonds with a market interest rate of 9%, and interest payable semiannually, were issued for $185895. On June 30, bond interest was paid. On December 31, the corporation showed an after-tax Net Income of $53586. On December 31, bond interest was paid; and dividends were declared and paid. What is the Bond Interest Expense on the Income Statement on December 31?
On January 2, $186442 in 11-year, 9% bonds with a market interest rate of 6%, and interest payable semiannually, were issued for $206254. On June 30, bond interest was paid. On December 31, the corporation showed an after-tax Net Income of $59680. On December 31, bond interest was paid; and dividends were declared and paid.
What is the Bond Interest Expense on the Income Statement on December 31?
Accounting Principles Part 3
ISBN: 978-1118306802
6th Canadian edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow