Homework Answers
Face Value of Bonds = $99,000
Issue Value of Bonds = $107,091
Premium on Bonds Payable = Issue Value of Bonds - Face Value of
Bonds
Premium on Bonds Payable = $107,091 - $99,000
Premium on Bonds Payable = $8,091
Annual Coupon Rate = 7.00%
Semiannual Coupon Rate = 3.50%
Semiannual Coupon = 3.50% * $99,000
Semiannual Coupon = $3,465
Time to Maturity = 5 years
Semiannual Period = 10
Semiannual Amortization of Premium = Premium on Bonds Payable /
Semiannual Period
Semiannual Amortization of Premium = $8,091 / 10
Semiannual Amortization of Premium = $809
Semiannual Interest Expense = Semiannual Coupon - Semiannual
Amortization of Premium
Semiannual Interest Expense = $3,465 - $809
Semiannual Interest Expense = $2,656
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Wookie Company issues 7%, five-year bonds, on January 1 of this year, with a par value...
Wookie Company issues 10%, five-year bonds, on January 1 of this year, with a par value...
Wookie Company issues 10%, five-year bonds, on January 1 of this year, with a par value of $105,000 and semiannual interest payments. (0) (1) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Un amortized Premium $8,211 7,390 6,569 Carrying Value $113,211 112,390 111,569 (2) Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c)...
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Wookie Company issues 10%, five-year bonds, on January 1 of this year, with a par value of $200,000 and semiannual interest payments. Use the following bond amortization table and prepare journal entries to record (a) the issuance of bonds on January 1, (b) the first interest payment on June 30, and (c) the second interest payment on December 31. Semiannual Period-End Unamortized Premium Carrying Value (0) January 1, issuance .......... (1) June 30, first payment........... (2) December 31, second payment...
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Wookie Company issues 7%, five-year bonds, on January 1 of this year, with a par value of $106,000 and semiannual interest payments. Semi annual Period-End January 1, issuance June 30, first payment December 31, second payment Unamortized Premium $8,231 7, 408 6,585 Carrying Value $114, 231 113, 408 112, 585 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30....
Wookie Company issues 6%, five-year bonds, on January 1 of this year, with a par value...
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Check my work Check my work Wookie Company issues 8%, five-year bonds, on January 1 of this year, with a par value of $92,000 and semiannual interest payments. 071 Carrying Value Semiannual Period-End January 1, 1ssuance June 30, first paynent December 31, second payment (1) (2) points Unamortized Premium $7.951 7.156 6,361 99,156 98,361 eBook Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first...
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Exercise Help Save Submit Check my work Wookie Company issues 7%, five year bonds, on January...
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