If $482,000 of 9% bonds are issued at 96, the amount of cash received from the...

Question

Question

If $482,000 of 9% bonds are issued at 96, the amount of cash received from the sale is

a.$525,380

b.$462,720

c.$438,620

d.$482,000

business accounting

Answer 1

Answer #1

The answer is 462720

for arriving to the answer divide the amount by 100 and multiply it by discounted rate (here 96)

Therefore the correct option is b

Answer 2

Similar Homework Help Questions

If $638,000 of 9% bonds are issued at 97, what is the amount of cash received...

If $638,000 of 9% bonds are issued at 97, what is the amount of cash received from the sale? Select the correct answer. $638,000 $618,860 $695,420 $580,580
If $897,000 of 10% bonds are issued at 102 3/4, the amount of cash received from...

If $897,000 of 10% bonds are issued at 102 3/4, the amount of cash received from the sale is a.$986,700 b.$897,000 c.$672,750 d.$921,668
If $816,000 of 8% bonds are issued at 102 3/4, the amount of cash received from...

If $816,000 of 8% bonds are issued at 102 3/4, the amount of cash received from the sale is a.$612,000 b.$816,000 c.$881,280 d.$838,440

If $802,000 of 11% bonds are issued at 102 1/2, The amount of cash received from...

If $802,000 of 11% bonds are issued at 102 1/2, The amount of cash received from the sale is a.$890,220 b.$802,000 c.$822,050 d.$601,500
If $2,000,000 of 10% bonds are issued at 97, the amount of cash received from the...

If $2,000,000 of 10% bonds are issued at 97, the amount of cash received from the sale is
If $2,000,000 of 10% bonds are issued at 97, the amount of cash received from the...

If $2,000,000 of 10% bonds are issued at 97, the amount of cash received from the sale is $2,060,000 $1,940,000 $2,000,000 $2,100,000

If $1,034,000 of 6% bonds are issued at 102 1/2, what is the amount of cash...

If $1,034,000 of 6% bonds are issued at 102 1/2, what is the amount of cash received from the sale? Select the correct answer. $1,059,850 $1,034,000 $775,500 $1,096,040
if $691,000 of 8% bonds are issued at 94, what is the amount of cash recieved...

if $691,000 of 8% bonds are issued at 94, what is the amount of cash recieved from the sale ? Calculator If $691,000 of 8% bonds are issued at 94, what is the amount of cash received from the sale? Select the correct answer. $635,720 $649,540 $746,280 $691,000 Assignment Main.do?invokerStake AssignmentSessionLocator Binprogressa false Calculator A corporation issues for cash $1,000,000 of 10%, 20-year bonds, interest payable annually, at a time when the market rate of interest is 12%. The straight-line...
A firm's cash flows from investing activities include: A) Cash received from the sale of a...

A firm's cash flows from investing activities include: A) Cash received from the sale of a plant asset B) Cash paid as dividends C) Cash received from the rendering of services to customers D) Cash paid to retire bonds payable 3. A firm's cash flow from financing activities includes: A) Cash paid to reacquire treasury stock B) Cash paid for merchandise purchased C) Cash received from sale of investment in bonds D) Cash received as interest income 4 Nacho Company...

On January 1, Year 1, Price Co. issued $190,000 of five-year, 6 percent bonds at 96%....

On January 1, Year 1, Price Co. issued $190,000 of five-year, 6 percent bonds at 96%. Interest is payable annually on December 31. The discount is amortized using the straight-line method. Required a. Determine the amount of cash proceeds received by Price Co. on January 1, Year 1 b. Calculate the amount of interest expense reported on the December 31, Year 2, income statement. c. What is the carrying value of the bond liability as of December 31, Year 2?...