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Use the straight line method

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Question: San Jose Company issued 5-year $200,000 face value bonds at 105 on January 1, 2012. The stated interest rate on these bonds is 9%. Use the straight line method to complete the amortization schedule below.

 

Cash Payment

Interest Expense

Premium Amortization

Carrying Value

January 1, 2012

 

 

 

 

December 31, 2012

 

 

 

 

December 31, 2013

 

 

 

 

December 31, 2014

 

 

 

 

December 31, 2015

 

 

 

 

December 31, 2015

 

 

 

 

Totals

 

 

 

 

Reference no: EM1342964

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