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Determine the carrying value of the bonds

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Question - On October 1, 2012, Ming Co. purchased 800 of the $1,000 face value, 8% bonds of Loy, Inc., for $936,000, including accrued interest of $16,000. The bonds, which mature on January 1, 2019, pay interest semiannually on January 1 and July 1. Ming used the straight-line method of amortization and appropriately recorded the bonds as available-for-sale. On Ming's December 31, 2013 balance sheet, the carrying value of the bonds is

a. $896,000.

b. $908,800.

c. $912,000.

d. $920,000.

Reference no: EM131812193

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