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Masia
Apr 20, 2015, 11:47 AM
Can someone help and explain please? :)

On January 1, 2013, Ithaca Corp. purchases Cortland Inc. bonds that have a face value of $310,000. The Cortland bonds have a stated interest rate of 8%. Interest is paid semiannually on June 30 and December 31, and the bonds mature in 10 years.



Required:


1.
Calculate the price Ithaca would have paid for the Cortland bonds on January 1, 2013 (ignoring brokerage fees)

Bond Fair Value: ?

Curlyben
Apr 20, 2015, 11:57 AM
What do YOU think ?
While we're happy to HELP we wont do all the work for you.
Show us what you have done and where you are having problems..