On January 1, Borge Inc. issued $3,000,000, 8% bonds for $2,817,000. The market rate of interest for these bonds is 9%. Interest is payable annually on December 31. Borge uses the effective-interest method of amortizing bond discount. At the end of the first year, Borge should report unamortized bond discount of Select one: a. $169,470. b. $153,000. c. $163,547. d. $164,700. e. $157,647.
Answers (2)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “On January 1, Borge Inc. issued $3,000,000, 8% bonds for $2,817,000. The market rate of interest for these bonds is 9%. Interest is payable ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Ottawa Corporation owns machinery that cost $20,000 when purchased on July 1, 2017. Depreciation has been recorded at a rate of $2,400 per year, resulting in a balance in accumulated depreciation of $8,400 at December 31, 2020.
Answers (1)
Econo Nation started 2008 with no national budget debt or surplus. By the end of 2008, it had a budget surplus of $304 million; in 2009, it had a budget deficit of $452 million;
Answers (1)
Nautilus Co. acquired 100% of XYZ Corp. on January 2, 2020. During 2020, Nautilus sold goods to XYZ Corp for $700,000 that cost Nautilus $500,000. XYZ Corp still owned 40% of the goods at the end of the year.
Answers (1)
Wind damage occurs to your car costing $800 to repair. If you have a $100 deductible for collision and full coverage for comprehensive, what portion of the claim will the insurance company pay?
Answers (1)
Getthere airlines currently charges $200$ dollars per ticket and sells $40{,}000$ tickets a week. for every $10$ dollars they increase the ticket price, they sell $1000$ fewer tickets a week.
Answers (1)
New Questions in Business
at the end of the year, the walt disney company has a profit of $920 million. this profit belongs to which of the following group?
Answers (1)
In a large open economy, what is one of the reasons the demand curve for loanable funds is downward sloping
Answers (1)
During its first and second years of operations, Rogers Company, a corporation using a periodic inventory system, made undiscovered errors in taking its year-end inventories that overstated year 1 ending inventory by $80,000 and overstated year 2
Answers (1)
3 Which of the following is a contribution of ancient Roman culture?
Answers (1)
Kevin and Maria are building their portfolios. Kevin purchases shares in a mutual fund and pays fees to a manager who actively manages the mutual fund's portfolio.
Answers (1)