On June 30, 2020, Dell Company issued $3,420,000 face value of 16%, 20-year bonds at $4,449,160,...
On June 30, 2020, Dell Company issued $3,420,000 face value of 16%, 20-year bonds at $4,449,160, a yield of 12%. Dell uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31.
Determine the total cost of borrowing over the life of the bond.
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On June 30, 2020, Dell Company issued $3,420,000 face value of
16%, 20-year bonds at $4,449,160,...
On June 30, 2020, Shamrock Company issued $4,470,000 face value of 14%, 20-year bonds at $5,142,560,...
On June 30, 2020, Shamrock Company issued $4,470,000 face value of 14%, 20-year bonds at $5,142,560, a yield of 12%. Shamrock uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31. Determine the total cost of borrowing over the life of the bond. (Round answer to 0 decimal places, e.g. 38,548.) Total cost of borrowing over the life of the bond $
On June 30, 2020, Kingbird Company issued $3,120,000 face value of 15%, 20-year bonds at $3,824,160,...
On June 30, 2020, Kingbird Company issued $3,120,000 face value of 15%, 20-year bonds at $3,824,160, a yield of 12%. Kingbird uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31. Provide the answers to the following questions. (1) What amount of interest expense is reported for 2021? (Round answer to 0 decimal places) (2) Will the bond interest expense reported in 2021 be the same as, greater than,...
On June 30, 2020, Kingbird Company issued $3,120,000 face value of 15%, 20-year bonds at $3,824,160,...
On June 30, 2020, Kingbird Company issued $3,120,000 face value of 15%, 20-year bonds at $3,824,160, a yield of 12%. Kingbird uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31. Prepare the journal entries to record the following transactions. (Round answer to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry") (1)The issuance of the bonds on June 30, 2020. (2)The payment of interest...
On June 30, 2020, Carla Company issued $5,640,000 face value of 14%, 20-year bonds at $6,488,600,...
On June 30, 2020, Carla Company issued $5,640,000 face value of 14%, 20-year bonds at $6,488,600, a yield of 12%. Carla uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31. Prepare the journal entries to record the following transactions. (Round answer to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles...
On June 30, 2020, Sarasota Company issued $3,340,000 face value of 14%, 20-year bonds at $3,842,540,...
On June 30, 2020, Sarasota Company issued $3,340,000 face value of 14%, 20-year bonds at $3,842,540, a yield of 12%. Sarasota uses the effective- interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31. (a) Prepare the journal entries to record the following transactions. (Round answer to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit...
On June 30, 2020, Mischa Auer Company issued $4,000,000 facevalue of 13%, 20-year bonds at...
On June 30, 2020, Mischa Auer Company issued $4,000,000 face value of 13%, 20-year bonds at $4,300,918, a yield of 12%. Auer uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31.Prepare the journal entries to record the following transactions. (Round answer to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are...
On June 30, 2020, Mischa Auer Company issued $4,000,000 face value of 13%, 20-year bonds at...
On June 30, 2020, Mischa Auer Company issued $4,000,000 face
value of 13%, 20-year bonds at $4,300,918, a yield of 12%. Auer
uses the effective-interest method to amortize bond premium or
discount. The bonds pay semiannual interest on June 30 and December
31.
I just need help with #3 in the last part
Prepare the journal entries to record the following transactions. (Round answer to o decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the...
On June 30, 2020, Shamrock Company issued $4,470,000 face value of 14%, 20-year bonds at $5,142,560,...
On June 30, 2020, Shamrock Company issued $4,470,000 face value of 14%, 20-year bonds at $5,142,560, a yield of 12%. Shamrock uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31. Prepare the journal entries to record the following transactions. (Round answer to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles...
On June 30, 2020, Pronghorn Company issued $3,400,000 face value of 13%, 20-year bonds at $3,655,780,...
On June 30, 2020, Pronghorn Company issued $3,400,000 face value of 13%, 20-year bonds at $3,655,780, a yield of 12%. Pronghorn uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31. Prepare the journal entries to record the following transactions. (Round answer to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles...
On June 30, 2020, Ivanhoe Limited issued $5 million of 20-year, 15% bonds for $5,707,274, which...
On June 30, 2020, Ivanhoe Limited issued $5 million of 20-year, 15% bonds for $5,707,274, which provides a yield of 13%. The company uses the effective interest method to amortize any bond premium or discount. The bonds pay semi-annual interest on June 30 and December 31. repare the journal entries to record the following transactions: (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no...
On June 30, 2020, Sarasota Company issued $3,340,000 face value of 14%, 20-year bonds at $3,842,540, a yield of 12%. Sarasota uses the effective- interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31. (a) Prepare the journal entries to record the following transactions. (Round answer to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit...
On June 30, 2020, Mischa Auer Company issued $4,000,000 face
value of 13%, 20-year bonds at $4,300,918, a yield of 12%. Auer
uses the effective-interest method to amortize bond premium or
discount. The bonds pay semiannual interest on June 30 and December
31.
I just need help with #3 in the last part
Prepare the journal entries to record the following transactions. (Round answer to o decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the...
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