On April 1, 2011, Jenkins Corporation issued $500,000 of 10 percent, 5-year bonds at a yield of 12 percent compounded semiannually. Interest is payable on April 1 and October 1 of each year. The corporation is a calendar-year corporation. Bond premiums and discounts are amortized on interest-paying dates and at year-end. On October 1, 2012, Jenkins reacquired the bonds for retirement when they were selling at 99 on the open market (assume no call premium).

a. $ \quad $ April 1, 2011
b. $ \quad $ October 1,2011
c. $ \quad $December 31,2011
d. $ \quad $April 1, 2012
e.$ \quad $ October 1,2012

Question

On April 1, 2011, Jenkins Corporation issued $500,000 of 10 percent, 5-year bonds at a yield of 12 percent compounded semiannually. Interest is payable on April 1 and October 1 of each year. The corporation is a calendar-year corporation. Bond premiums and discounts are amortized on interest-paying dates and at year-end. On October 1, 2012, Jenkins reacquired the bonds for retirement when they were selling at 99 on the open market (assume no call premium).
 
a. $ \quad $ April 1, 2011
b. $ \quad $ October 1,2011
c. $ \quad $December 31,2011
d. $ \quad $April 1, 2012
e.$ \quad $ October 1,2012

Quizplus · Accepted Answer

The Answer of On April 1, 2011, Jenkins Corporation issued $500,000 of 10 percent, 5-year bonds at a yield of 12 percent compounded semiannually. Interest is payable on April 1 and October 1 of each year. The corporation is a calendar-year corporation. Bond premiums and discounts are amortized on interest-paying dates and at year-end. On October 1, 2012, Jenkins reacquired the bonds for retirement when they were selling at 99 on the open market (assume no call premium).
 
a. $ \quad $ April 1, 2011
b. $ \quad $ October 1,2011
c. $ \quad $December 31,2011
d. $ \quad $April 1, 2012
e.$ \quad $ October 1,2012

On April 1, 2011, Jenkins Corporation Issued $500,000 of 10 \quad

On April 1, 2011, Jenkins Corporation Issued $500,000 of 10 $\quad$