Wayne Company issued bonds with a face value of $990,000, a 11% stated rate of interest, and a 10-year term. The bonds were issued on January 1, Year 1, and Wayne uses the straight-line method of amortization. Interest is paid annually on December 31. Assuming Wayne issued the bonds for 104, the carrying value of the bonds on the December 31, Year 1 balance sheet would be:

the carrying value is  $1,025,640

Explanation:

The computation of the carrying value of the bonds is shown below:

Given that

The Face value of the Bond is $990,000

Now  

Issue Price is

= $990,000 × 1.04

= $1,029,600

Now

Premium on Bonds Payable is

= $1,029,600 - $990,000

= $39,600

Semi-annual Bond Amortization is

= $39,600 ÷ 10 Years

= $3,960

And, finally carrying value is

= $1,029,600 - $3,960

= $1,025,640

Hence, the carrying value is  $1,025,640

you can lose ranking 2 ways.

1) you don't have enough points due to you expending them by asking questions/your answers are deleted.

2) your brainliest's expired. this means that brainliests, once they exceed the 30 day limit, expires. this is to ensure that you continue to contribute into the community at a constant rank if you want to continue to have/exceed the rank you have right now.

if you go to profile, and click "show more information" located on the bottom left of the box with your information (on top of the questions answered, questions asked, and friends), you will be given the following information (example):

member since : 02/13/2017, 18: 11

questions answered: 9741

questions asked: 162

no. of brainliest answers: 1575

brainliest answers in last 30 days: 10

warnings: 0 view

questions/answers reported: 2637

questions/answers incorrectly reported: 64

look at the "brainliest answers in the last 30 days". this is the one that will affect your rank other than your points. again, once your brainliest expires (was earned 31+ days ago), it will not be counted.

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