On January 1, a company issued a $500,000, 10%, 8-year bond payable, and received proceeds of $473,845. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The amount of interest expense to be recorded on June 30 is $25,000.
Answer the following statement true (T) or false (F)
False
Interest Expense = Cash Paid + Discount Amortization Interest Expense = ($500,000 × 10% × 6/12) + ($26,155/16) = $26,634.69
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A) company buying site B) intranet link C) search engine D) trading exchange E) reverse auction
One drawback of using standard costing is that it is
a. expensive to use. b. difficult to implement. c. often inaccurate. d. not applicable to most manufacturing systems.
Secondary data are data collected from inside the organization; primary data are those collected from outside the organization.
Answer the following statement true (T) or false (F)
The benefits of workers' compensation do not cover:
a. death expenses b. permanent partial disability c. temporary total disability d. temporary partial disability e. all of the other choices are covered