can I get calculation,step by step? Thank you! On April 1, 2017,...
50.1K
Verified Solution
Link Copied!
Question
Accounting
can I get calculation,step by step? Thank you!
On April 1, 2017, MacKinnon Corporation issued $1,200,000 of 15 year, 5% bonds when the market rate was 6%. Interest is payable semi-annually on Sept 30 and March 31. The bond discount or premium is amortized using the effective-interest method. The company has a December 31 year-end. Use these formulas to calculate the values and round to the nearest dollar PV = C / (1 +r) PVAordinary = C * (1-(1+r)^-t)/r Question 14 (1 point) Assume no bonds were retired, how much interest expense will the company record over the life of the bonds (rounded to nearest dollar)? $1,080,000 O $1,015,257 O $1,017,603 o $1,775,660 o $900,000
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.