On July 1, 2022, Garden Works, Incorporated issued $300,300 of ten-year, 7% bonds for $304,500. The bonds were dated July 1, 2022, and semi-annual interest will be paid each December 31 and June 30. Garden Works Incorporated uses the straight-line method of amortization. 

What is the net amount of the bond liability to be reported on the December 31, 2023 balance sheet?

On January 1, 2022, Pipestone Corporation issued a seven-year, $40,000, 10% bond. The interest is payable annually each December 31. The issue price was $38,117 based on an 11% effective interest rate. Pipestone uses the effective-interest amortization method.

The 2023 interest expense is closest to?

Answer rating: 100% (QA)

For the first question 1 Calculate the amortization of the bond discount for the period from July 1 ... View the full answer