[Solution]ACC 419 On January 1, 2015, Fennis Company issued its 12% bonds in the face amount

1. On January 1, 2015, Fennis Company issued its 12% bonds in the face amount of $3,000,000, which mature on January 1, 2025. The bonds…

1. On January 1, 2015, Fennis Company issued its 12% bonds in the face amount of $3,000,000, which mature on January 1, 2025. The bonds were issued for $3,368,665 to yield 10%. Fennis uses the effective-interest method of amortizing bond premium. Interest is payable annually on December 31. At December 31, 2016, the adjusted unamortized bond premium should be 2. On July 1, 2016, Pillar Company issued 6% bonds in the face amount of $5,000,000, which mature on July 1, 2022. The bonds were issued for $4,537,714 to yield 8%. Pillar uses the effective-interest method of amortizing bond discount. Interest is payable annually on June 30. At June 30, 2019, the unamortized bond discount should be3. The Whittier Company issues $100,000, 10% bonds at 108 on September 1, 2017. The bonds are dated January 1, 2016 and mature ten years from that date. Straight-line amortization is used. Interest is paid annually each December 31. Compute the bond carrying value as of December 31, 2022.

The post ACC 419 On January 1, 2015, Fennis Company issued its 12% bonds in the face amount

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