Exhibit 14-7 on January 1, 2010, Bubbles, Inc

Exhibit 14-7 On January 1, 2010, Bubbles, Inc.sold $200, 000 of its 12% five-year bonds to yield 10%.Interest is paid each January 1 and July 1, and effective interest amortization is used.On May 1, 2012, Bubbles, retired $100, 000 of the bonds at 104.The book value of the bonds on December 31, 2011, was $212, 926.
-
Refer to Exhibit 14-7.The book value of the remaining bonds outstanding on May 1, 2012, after the retirement entry has been posted would be

A) $112, 024
B) $112, 926
C) $106, 463
D) $106, 012

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free