Problemon january 1 2013 zebra corporation issued 1400 of, Ask an Expert

Accounting

Problem:

On January 1, 2013, Zebra Corporation issued 1,400 of its 10%, $1,000 bonds at 98.1. Interest is payable semiannually on January 1 and July 1. The bonds mature on January 1, 2023. Zebra paid $56,000 in bond issue costs. Zebra uses the straight-line amortization method.

Required:

Question: What is the bond carrying value reported in the December 31, 2013, balance sheet?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91164530

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