On January 1, 2011, $937,000, 5-year, 10% bonds, were issued for $908,890. Inter

Question

On January 1, 2011, $937,000, 5-year, 10% bonds, were issued for $908,890. Interest is paid semiannually on January 1 and July 1. If the issuing corporation uses the straight-line method to amortize discount on bonds payable, what is the semiannual amortization amount?

Select the correct answer.

$2,811

$28,110

$46,850

$5,622

Based on the following data, what is the amount of working capital?

Accounts payable $28,378
Accounts receivable $68,496
Accrued liabilities $6,672
Cash $16,602
Intangible assets $35,713
Inventory $74,341
Long-term investments $104,529
Long-term liabilities $72,090
Marketable securities $32,550
Notes payable (short-term) $25,357
Property, plant, and equipment $628,468
Prepaid expenses $1,561

Select the correct answer.

$117,648

$193,550

$962,260

$133,143


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Explanation / Answer

1) Hmmm 937,000 - 908,890 = 28110 28110 divided by 10 (5 years twice a year) = 2811

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