Question #1 (40 Marks)On July 31, 2015 Marquis Inc. purchased 7%, $150,000, 10-year bonds. Interest is paid annually on December 31. Marquis uses the amortized cost model and the effective interest method for amortizing premium or discount. The current market rate was 8% and as a result Marquis paid $139,935 for the bonds. On December 31, 2015, the bonds have a market value of $135,000. The bonds had a market value of $138,000 on December 31, 2016.InstructionsAssuming the company uses amortized cost to account for the investment:b) Record the receipt of interest and amortization of the discount for 2015 and 2016.c) Record any year-end adjustments required.
RECOMMENDED!!TECH 1155-On July 31, 2015 Marquis Inc. purchased 7%
How it works
- Paste your instructions in the instructions box. You can also attach an instructions file
- Select the writer category, deadline, education level and review the instructions
- Make a payment for the order to be assignment to a writer
- Download the paper after the writer uploads it
Will the writer plagiarize my essay?
You will get a plagiarism-free paper and you can get an originality report upon request.
Is this service safe?
All the personal information is confidential and we have 100% safe payment methods. We also guarantee good grades
Recent Comments