Workout the amortization of bonds premium and bonds discount for a Statement of Cash Flows 31 DEC 20

Workout the amortization of bonds premium and bonds discount for a Statement of Cash Flows

31 DEC 2013 1 JAN 2013

Bond Discount and issue costs $1,165 $6,075

Bonds payable $400,000 $300,000

Premium on bonds payable $7,762 $0

1 The 10%, $300,000 40-year bonds were dated and issued on January 2, 2000 Interest was payable on June 30 and December 31 They were sold originally at 97 These bonds were retired at 101 plus accrued interest on May 31, 2013

2 The 6%, $400,000 20-year bonds were dated January 1, 2013, and were sold on May 31 at 102 plus accrued interest Interest is payable semiannually on June 30 and December 31 Expense of issuance was $1,200

Looking for a similar assignment? Get help from our qualified experts!

"Our Prices Start at $9.99. As Our First Client, Use Coupon Code GET15 to claim 15% Discount This Month!!":

Order a Similar Paper Order a Different Paper