Hello,Can I please get help for the following question?A company issued a $3.9M face amount bond on June 1st, 2016 at 6% for 10 years. These bonds pay interest on an annual basis on May 31st each year.Calculate the interest expense that the company will show with respect to these bonds in its income statements for the year ending Sept 30, 2016 assuming that the discount of $362,000 is amortized on a straight-line basis. I'm trying to get the following numbers:Accrued interest payable:Discount amortization.Thank you very much,Michael
Hello,Can I please get help for the following question?A company issued a $3.9M face amount bond on June 1st, 2016 at 6% for 10 years. These bonds pay interest on an annual basis on May 31st each year.Calculate the interest expense that the company will show with respect to these bonds in its income statements for the year ending Sept 30, 2016 assuming that the discount of $362,000 is amortized on a straight-line basis. I'm trying to get the following numbers:Accrued interest payable:Discount amortization.Thank you very much,Michael
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Hello,
Can I please get help for the following question?
A company issued a $3.9M face amount bond on June 1st, 2016 at 6% for 10 years. These bonds pay interest on an annual basis on May 31st each year.
Calculate the interest expense that the company will show with respect to these bonds in its income statements for the year ending Sept 30, 2016 assuming that the discount of $362,000 is amortized on a straight-line basis. I'm trying to get the following numbers:
Accrued interest payable:
Discount amortization.
Thank you very much,
Michael
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