Question: Nash issued an 9 % , 1 0 - year $ 1 , 9 0 0 , 0 0 0 bond to build a monorail

Nash issued an 9%,10-year $1,900,000 bond to build a monorail mass transit system. The city received $1,676,209 cash from the bond issuance on January 1,2025. The bond yield is 11%. Interest is paid annually on December 31 of each year. Disclosure information about capital assets is reported below.
\table[[Governmental Activities,of Informa,about Capit,25,],[Primary Government],[\table[[Beginning],[Balance]],Additions,Retirements,\table[[Ending],[Balance]]],[Land,$500,000,$1,500,000,$(224,000),$500,000
 Nash issued an 9%,10-year $1,900,000 bond to build a monorail mass

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To understand the bond issuance and accounting lets break this down into steps Step 1 Bond Issuance Details Face Value of Bond 1900000 Coupon Rate 9 T... View full answer

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