Book value or carrying value of the bonds payable, Accounting Basics

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Book value or carrying value of the bonds payable

On january 2,2011, west co. issued 9% bonds in the face amount of $500,000, which mature on january 2,2012. the bonds were issued for 469500 to yield 10%. iterest is payable semiannually on june 30 and december 31. west uses the effective interest rate method of amortizing bond discount. in its june 30,2011, balance sheet, what value should west report as the book value or carrying value of the bonds payable?

a. $469,500

b. $470,475

c. $471,025

d. $500,000

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Accounting Basics: Book value or carrying value of the bonds payable

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Accounting Basics: Book value or carrying value of the bonds payable

Reference No:- TGS067426

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Ask an Expert for Answer!!

Accounting Basics: Book value or carrying value of the bonds payable

Reference No:- TGS067426

Recent Questions Asked Accounting Basics

Q : Compute the depreciation for the first year

Q : Purchasing department should authorize payment

Q : Current state or incur additional costs to finish the goods

Q : Compute unrecognized prior service cost amortization

Q : Book value or carrying value of the bonds payable

Q : Prepare the journal entry recording the amount of interest

Q : Gain from the transaction

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