Survey of Accounting (Accounting I)
Solutions
Survey of Accounting (Accounting I)
Bond price
CVS Caremark Corp. (CVS) 5-3% bonds due in 2043, sold for 113.04. Were the bonds selling at a premium or at a discount? Explain.
Concept Introduction:
Bonds:
Bonds are debt instruments issued by the borrower company to its lenders. Bonds are issued at a specified rate of interest and for a specified time period. The bondholders get a fixed rate of interest on the bonds and repayment of the bonds at the maturity date. Bonds may be issued at a premium or discount.
To Indicate:
If the bonds are selling at a premium or Discount
Bonds are debt instruments issued by the borrower company to its lenders. Bonds are issued at a specified rate of interest and for a specified time period. The bondholders get a fixed rate of interest on ...
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