On January 1, Year 1, Boston Group issued $100,000 par value, 5% 5-year bonds when the market rate of interest was 8%. Interest is payable annually on December 31. The following present value information is available:
5%, 8%
Present value of $1 (n = 5) 0.78353, 0.68058
Present value of an ordinary annuity (n = 5) 4.32948, 3.99271

What amount is the value of net bonds payable at the end of Year 1?

A. $110,638
B. $100,000
C. $88,022
D. $90,064

Swain company manufactures one product, it does not maintain any beginning or ending inventories, and its uses a standard cost system. the company's beginning balance in retained earnings is $65,000. it sells one product for $170 per unit and it generated total sales during the period of $603,500 while incurring selling and administrative expenses of $54,500. swain company does not have any variable manufacturing overhead costs and its standard cost card for its only product is as follows: