Homework Answers
| As per HOMEWORKLIB RULES I ca answer only 4 parts of the question | ||||
| Part 1 | ||||
| Table values are based on: | ||||
| n= | 10 | |||
| i= | 7.0% | |||
| Cash Flow | Amount | Present Value | Present Value factor(8%,10) | |
| Interest | $1,000,000*7% =$70,000 | $4,69,706 | 6.71008 | |
| Principal | $1,000,000 | $4,63,190 | 0.46319 | |
| Price of Bonds | $9,32,896 | |||
| Part 2 | ||||
| Cash | 9,32,896 | |||
| Discount on Bonds Payable | 67,104 | |||
| Bonds Payable | 10,00,000 | |||
| (To bonds issued at discount) | ||||
| Part 3 | ||||
| Table values are based on: | ||||
| n= | 10 | |||
| i= | 6.0% | |||
| Cash Flow | Amount | Present Value | Present Value factor(6%,10) | |
| Interest | $1,000,000*7% =$70,000 | $5,15,206 | 7.36009 | |
| Principal | $1,000,000 | $5,58,390 | 0.55839 | |
| Price of Bonds | $10,73,596 | |||
| Part 4 | ||||
| Cash | $10,73,596 | |||
| Bonds Payable | 1000000 | |||
| Premium on Bonds payable | $73,596 | |||
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week 12 Quiz v2.0 - Continued 5. Please prepare the Slacker Co. journal entry associated with...
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Please show your work/calculations/etc., where applicable 1. Slacker Co. decided to raise $1,000,000 through a bond...
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Journal Entry (1) - Record the first interest payment on June
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Journal Entry (2) - Record the second interest payment on
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Please show your work/calculations/etc., where applicable 1. Slacker Co. decided to raise $1,000,000 through a bond issue. These mature in 10 years and the associated coupon rate for the annual interest 7.0%. If the market rate is 8%, what price would we expect Table B.1 and 8.3) issue. These bonds will al Interest payments is we would we expect for these bonds? (Hints I'f TOURS annually ,000,000 1,000,000X 5083- 508,300 the bond issue in the previous 2. Please prepare the...
QS 14-4 Journalizing bond issuance LO P1 Prepare the journal entry for the issuance of these bonds. Assume the bonds are issued for cash on January 1, 2017 Garcia Company issues 8.50%, 15-year bonds with a par value of $390,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 6.50%, which implies a selling price of 116 1/4 View transaction list View journal entry worksheet Debit Credit No 1 Date Jan 01, 2017...
Check my work Prepare the journal entry to record the bonds' issuance. (Round intermediate calculations to the nearest dollar amount.) View transaction list Journal entry worksheet 1 Record the issuance of the bonds for cash. es Note: Enter debits before credits Transaction General Journal Debit Credit 1 View general journal Record entry Clear entry Required 1 Check my work Exercise 14-17A Computing bond interest and price; recording bond issuance LO C2 Citywide Company issues bonds with a par value of...
QS 10-4 Journalizing bond issuance LO P1 Prepare the journal entry for the issuance of these bonds. Assume the bonds are issued for cash on January 1, 2017 Garcia Company issues 11.00%, 15-year bonds with a par value of $440,000 and semiannual interest payments. On the issue date, annual market rate for these bonds is 9.00%, which implies a selling price of 114. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $440,000....
AC 112 Assignment #2 Bonds Baxter Co. decides to issue the following bond: A $100,000 20-year Bond bearing 6% interest. Interest payments are to be made semi-annually. The current market rate for a similar bond is 8% Required: 1. Determine the issue price for the bonds. 2. Prepare the journal entry to record the issue of the bond. 3. Prepare the journal entry to record the first semi-annual interest payment assuming straight-line amortization
D. Prepare the Journal entry for the issuance of the band subsequent payments of interest and amortization of discounts, and final payment of the principal Date Accounts Debit Jan 1, 2020 Illustration #3 - BOND issued @ PREMIUM Tyriel Co. issues $100,000 Hond on Jan 1, 2020, due in 5 years on Dec 31, 2024 with 7% stated interest rate payable annually at year-end. At the time of issue, the market rate for such bonds is 5% A. Compute the...
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Required 3:
Journal Entry (1) - Record the first interest payment on June
30, 2018.
Journal Entry (2) - Record the second interest payment on
December 31, 2018.
Ellis issues 7.0%, five-year bonds dated January 1, 2018, with a $450,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $469,193. The annual market rate is 6% on the issue date. Required: 1. Complete the below table to calculate the total...
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