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ACC 304 WEEK 11 FINAL EXAM
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ACC 304 WEEK 11 FINAL EXAM
108. On July 1, 2011, Noble, Inc. issued 9% bonds in the face amount of $10,000,000, which
mature on July 1, 2017. The bonds were issued for $9,390,000 to yield 10%, resulting in a
bond discount of $610,000. Noble uses the effective-interest method of amortizing bond
discount. Interest is payable annually on June 30. At June 30, 2013, Noble's unamortized
bond discount should be
a. $528,100.
b. $510,000.
c. $488,000.
d. $430,000.
Exam (elaborations)
ACC 304 WEEK 11 FINAL EXAM
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ACC 304 WEEK 11 FINAL EXAM 108. On July 1, 2011, Noble, Inc. issued 9% bonds in the face amount of $10,000,000, which mature on July 1, 2017. The bonds were issued for $9,390,000 to yield 10%, resulting in a bond discount of $610,000. Noble uses the effective-interest method of amortizing bond discount. Interest is payable annually on June 30. At June 30, 2013, Noble's unamortized bond discount should be a. $528,100. b. $510,000. c. $488,000. d. $430,000.
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