Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 02 Aug 2017 My Price 9.00

Sielert Corporation

Hi can you please explain the steps I am having trouble with these problems thanks!

 

1)Sielert Corporation borrowed $600,000 from National Bank on May 31, 2011. The three-year, 7% note required annual payments of $228,630 beginning May 31, 2012. Interest expense for the year ended December 31, 2011 was?

 

$0.
 

$24,500.
 

$28,000.
 

$42,000.

 

Downs Company issued $800,000 of 8%, 5-year bonds at 106, which pays interest annually. Assuming straight-line amortization, what is the total interest cost of the bonds?

 

$272,000
 

$224,000
 

$368,000
 

$320,000

Winrow Company received proceeds of $377,000 on 10-year, 8% bonds issued on January 1, 2011. The bonds had a face value of $400,000, pay interest annually on December 31st, and have a call price of 101. Winrow uses the straight-line method of amortization. What is the carrying value of the bonds on January 1, 2013?

 

$400,000
 

$381,600
 

$395,400
 

$379,300

 

Answers

Maurice Tutor
(5)
Status NEW Posted 02 Aug 2017 12:08 AM My Price 9.00

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