Homework – Chapter 14

Exercise 14-1 Recording bond issuance and interest L.O. P1

On January 1, 2011, Kidman Enterprises issues bonds that have a $2,150,000 par value, mature in 20 years, and pay 6% interest semiannually on June 30 and December 31. The bonds are sold at par.

1.	How much interest will Kidman pay (in cash) to the bondholders every six months? (Do not round intermediate calculations. Omit the “$” sign in your response.)

Semiannual cash interest payment

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