Matthew_McCoy_Problem 14-7A

Matthew_McCoy_Problem 14-7A - MatthewMcCoy Problem147A 2009...

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Matthew McCoy Problem 14-7A 2009 Jan. 1 Cash 189,620           Premium on Bonds Payable           Bonds Payable      Sold bonds at a premium on their issue date. Interest Computations Amount repaid to bondholders    Six interest payments of 11,100 66,600    Par value at maturity 185,000    Total repaid to bondholders 251,600 Less amount borrowed from bondholders (189,620) Total bond interest expense 61,980                             Bonds: 185,000 Par Value, Semiannual Interest Payments, Three-Year Li                                        6% Semiannual Contract Rate, 5.5% Semiannual Market Rate (A) (B) ( C) (D) Semiannual Cash Bond Interest Interest Interest Premium Unamortized Period-End Paid Expense Amortization Premium (0)     1/1/2009 4,620 (1)   6/30/2009 11,100 10,429 671 3,949 (2) 12/31/2009 11,100 10,392 708 3,241 (3)    6/30/2010
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This note was uploaded on 09/24/2011 for the course ACCT 212 taught by Professor Sheik during the Spring '11 term at Mountain State.

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Matthew_McCoy_Problem 14-7A - MatthewMcCoy Problem147A 2009...

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