Bond sinking fund, January 1, 2021 10,000,000 Additional investment in 2021 2,200,000 Dividends on investment 300,000 Interest revenue 600,000 Administration costs 100,000 Carrying amount of bonds payable 15,000,000 How much is the carrying amount of the bond sinking fund on December 31, 2021?

Bond sinking fund, January 1, 2021 10,000,000 Additional investment in 2021 2,200,000 Dividends on investment 300,000 Interest revenue 600,000 Administration costs 100,000 Carrying amount of bonds payable 15,000,000 How much is the carrying amount of the bond sinking fund on December 31, 2021?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 65BE

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Question

Bond sinking fund, January 1, 2021 10,000,000
Additional investment in 2021 2,200,000
Dividends on investment 300,000
Interest revenue 600,000
Administration costs 100,000
Carrying amount of bonds payable 15,000,000

How much is the carrying amount of the bond sinking fund on December 31, 2021?

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