Questions about bonds, accounting homework help

  

3 bond questions, multiple choice
week_3_quiz.docx

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Buttner Company borrows $88,500 on September 1, 2017, from Harrington State Bank by signing an
$88,500, 12%, one-year note. How much is accrued interest at December 31, 2017?
$2,655
$3,540
$4,425
$10,620
Cuso Inc. issues 10-year bonds with a maturity value of $200,000. If the bonds are issued at a
premium, what does this indicate?
The market interest rate exceeds the contractual interest rate.
The contractual interest rate exceeds the market interest rate.
No relationship exists between the market and contractual rates.
The contractual interest rate and the market interest rate are the same.
Tanner, Inc. issued a 10%, 5-year, $100,000 bond when the market rate of interest was 12%. At
what value will the bond sell?
Par
A discount
Face value
A premium
…
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