At the beginning of 2015, Churchill Corp. issued 10% bonds with a face value of $1,200,000. These bonds mature in five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $1,111,680 to yield 12%. Since Churchill uses a calendar-year reporting period and the effective interest method of amortization, what interest expense should the corporation report for 2015

$133,803.65

Explanation:

discount on bonds payable = $88,320

first coupon payment

amortization of discount = ($1,111,680 x 6%) - $60,000 = $6,700.80

total interest expense for first coupon payment = $66,700.80

second coupon payment

amortization of discount = ($1,118,380.80 x 6%) - $60,000 = $7,102.85

total interest expense for second coupon payment = $67,102.85

total interest expense for the year = $133,803.65

client registration system, resource management system, clinical management system, patient information database, common use-system interface

explanation:

there's 11 people for the 1st position. then, no matter who gets it, there's only 10 left for the second, and then 9 left for the third. 11 x 10 x 9 = 990.   the answer is there are 990 different ways the positions can be filled by these applicants