The 96 bonds were issued in 2000 at 975 interest is paid


Question - Bradley-Link's December 31, 2013, balance sheet included the following items:

Long-Term Liabilities ($ in millions) 9.6% convertible bonds, callable at 101 beginning in 2014, due Dec 31, 2017 (net of unamortized discount of $2 million) $198,000,000.

The 9.6% bonds were issued in 2000 at 97.5. Interest is paid semiannually on June 30 and December 31. Each $1,000 bond is convertible into 40 shares of the Company's no par common stock.

Prepare an amortization table for the bond issue in 2000.

Solution Preview :

Prepared by a verified Expert
Accounting Basics: The 96 bonds were issued in 2000 at 975 interest is paid
Reference No:- TGS02799511

Now Priced at $25 (50% Discount)

Recommended (99%)

Rated (4.3/5)