Flounder Inc. Use the Information Provided for Flounder Inc. to Answer the to Answer

question 67

Multiple Choice

Flounder Inc.
Use the information provided for Flounder Inc. to answer the question(s) using the effective interest method.
On January 1, 2012, Flounder Inc. issued $800,000, 10-year, 9% bonds for $662,356. The bonds pay interest on June 30 and December 31. The market rate is 12%.
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Refer to the information provided for Flounder Inc. What is the carrying value of the bonds after the first interest payment is made on June 30, 2012?

• A) $662,356.40
• B) $666,097.78
• C) $670,063.65
• D) $133,902.22

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Definitions:

Transformational Leadership

A leadership style where the leader works with teams to identify needed change, creating a vision to guide the change through inspiration, and executing the change in tandem with committed members of the group.

Transactional Leadership

A leadership style focused on the exchange process between leader and followers, emphasizing clear roles and responsibilities as well as rewards and punishments.

Servant Leader

A leadership philosophy in which the main goal of the leader is to serve. This is contrasted with the traditional leadership where the leader’s main focus is the thriving of their company or organizations.

Serve First

A leadership philosophy that emphasizes the importance of leaders prioritizing the needs and well-being of their team members before their own.