On July 1,2019,Garden Works,Inc

question 33

Multiple Choice

On July 1,2019,Garden Works,Inc.issued $300,000 of ten-year,7% bonds for $303,000.The bonds were dated July 1,2019,and semiannual interest will be paid each December 31 and June 30.Garden Works Inc.uses the straight-line method of amortization.
- What is the net amount of the bond liability to be reported on the December 31,2020 balance sheet?

• A)$300,000.
• B)$302,550.
• C)$302,700.
• D)$303,000.

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Definitions:

Activation-Synthesis Theory

A hypothesis about dreaming that suggests dreams are the result of the brain trying to make sense of random neural activity during sleep.

Neural Activity

The electrical and chemical processes within neurons that allow the transmission of signals throughout the nervous system.

Hypnosis

A trance-like mental state induced by a hypnotist, characterized by heightened focus, concentration, and suggestibility.

Heightened Suggestibility

A state in which an individual is more likely to accept and act upon the suggestions of others, often seen in contexts such as hypnosis or certain psychological states.