Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. garland company received proceeds of $188,000 on 1

Garland Company received proceeds of $188,000 on 10-year, 6% bonds issued on January 1, 2013....

80.2K

Verified Solution

Question

Accounting

Garland Company received proceeds of $188,000 on 10-year, 6% bonds issued on January 1, 2013. The bonds had a face value of $200,000, pay interest semi-annually on June 30 and December 31. Garland uses the straight-line method of amortization. What is the carrying value of the bonds on January 1, 2015?

Answer & Explanation Solved by verified expert
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!
Become a Member

Other questions asked by students

Finance
1.2K views

ZTX Co. has decided to sell a new line of golf clubs. The clubs will sell...

Biology
1.2K views

In animal tissue, the rate of conversion of pyruvate of acetyl-CoA is regulated by the ratio...

Medical Sciences
1.2K views

Which of the following statements about hemoglobin is false? a. hemoglobin is a very large protein composed of four...

Civil Engineering
1.2K views

1. Write an introduction about the thermal and mechanical properties of stainless steel and how it...

Physics
1.2K views

Carlos takes a 16 kg bag of ice at -5 ∘C from a freezer and...

Calculus
1.2K views

10 5 10 LO Af x 15 X 10 C

Accounting
1.2K views

Define entreprenuership in the 21st century

Accounting
1.2K views

Provide some examples of items that would be adjusted directly against equity, rather than being...

Accounting
1.2K views

Am I right? Question 22 Which of these is not a spontaneous source of...

Accounting
1.2K views

On January 1, 2021, Sheffield corporation issued $560000 of 7% bonds due on January 2029...

Accounting
1.2K views

Principal Managerial Accounting Chapter 8 ...

Finance
1.2K views

Pamplin, Inc. Balance Sheets Assets 2012 2013...