The Following Partial Amortization Schedule Is Available for Courtney Company

question 123

Multiple Choice

The following partial amortization schedule is available for Courtney Company who sold $500,000, five-year, 10% bonds on January 1, 2014 for $520,000 and uses annual straight-line amortization. Which of the following amounts should be shown in cell (i) ?

• A) $52,000
• B) $54,000
• C) $50,000
• D) $10,000

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Definitions:

Equilibrium Quantity

The quantity of a good or service at which supply equals demand, so there is no excess of supply over demand or vice versa.

Oranges

A citrus fruit that is typically round, orange in color, and contains a pulp divided into segments; widely consumed fresh or as juice.

Florida

Florida is a southeastern U.S. state known for its theme parks, beaches, and diverse wildlife.

Pulp

Pulp refers to a raw material consisting of cellulose plant fibers that are used in creating paper or other products through various processing methods.