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Category > Accounting Posted 01 Jun 2017 My Price 5.00

What amount should Gore report as interest expense for the six months ended

 

On Jan 1 2010, Gore Co. sold to Cey Corp.$400,000 of its 10% bonds for $354,118 to yield 12%.Interest is payable semiannually on Jan 1 and July 1. What amount should Gore report as interest expense for the six months ended Jun 30,2010?
 
 

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Alpha Geek
(8)
Status NEW Posted 01 Jun 2017 09:06 AM My Price 5.00

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Attachments

file 1496307954-21406_1_636318753035281289_Effective-interest.xlsx preview (81 words )
21-----------406-----------&am-----------p;a-----------mp;-----------inf-----------oId-----------=50-----------838-----------6Bo-----------nd -----------Int-----------ere-----------st -----------exp-----------ens-----------eOn----------- Ja-----------n 1----------- 20-----------10,----------- Go-----------re -----------Co.----------- so-----------ld -----------to -----------Cey----------- Co-----------rp.-----------$40-----------0,0-----------00 -----------of -----------its----------- 10-----------% b-----------ond-----------s f-----------or -----------$35-----------4,1-----------18 -----------to -----------yie-----------ld -----------12%-----------.In-----------ter-----------est----------- is----------- pa-----------yab-----------le -----------sem-----------ian-----------nua-----------lly----------- on----------- Ja-----------n 1----------- an-----------d J-----------uly----------- 1.-----------$Ja-----------n 1-----------,20-----------10F-----------ace----------- va-----------lue----------- of----------- 10-----------%,B-----------ond-----------s C-----------arr-----------yin-----------g v-----------alu-----------e o-----------f b-----------ond-----------sIn-----------ter-----------est----------- Yi-----------eld----------- In-----------ter-----------est----------- is----------- pa-----------yab-----------le -----------sem-----------ian-----------nua-----------lly----------- on----------- Ja-----------n 1----------- an-----------d J-----------uly----------- 1 -----------Wha-----------t a-----------mou-----------nt -----------sho-----------uld----------- Go-----------re -----------rep-----------ort----------- as----------- in-----------ter-----------est----------- ex-----------pen-----------se -----------for----------- th-----------e s-----------ix -----------mon-----------ths----------- en-----------ded----------- Ju-----------n 3-----------0,2-----------010-----------?in-----------ter-----------est----------- ex-----------pen-----------se -----------for-----------
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