Homework Answers
19) Present value of Principal = 6000000*.534 = 3204000
So answer is a) $3204000
20) Present value of interest = (6000000*3%*11.652) = 2097360
So answer is b) $2097360
21) Additional paid in capital = (600000*4+80000*7) = $2960000
So answer is d) $2960000
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Use the following to answer questions 19-20: On January 1, 2017, Ellison Co. issued eight-year bonds...
18 19 20 are related questions. please help me with 21 A company issues $25,000,000, 7.8%,...
18 19 20 are related questions. please help me with 21
A company issues $25,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2017. Interest is paid on June 30 and December 31. The proceeds from the bonds are $24,505,180. Using effective-interest amortization, how much interest expense will be recognized in 2017? A) $975,000 B) $1,950,000 C) $1,960,623 D) $1,960,415 Use the following to answer questions 19-20: On January 1, 2017, Ellison Co. issued eight-year bonds with a face...
On January 1, 2017, Waterway Industries issued eight-year bonds with a face value of $6700000 and...
On January 1, 2017, Waterway Industries issued eight-year bonds with a face value of $6700000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are: On January 1, 2017, Waterway Industries issued eight-year bonds with a face value of $6700000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are:...
On January 1, 2017, Concord Corporation issued eight year bonds with a face value of $6070000...
On January 1, 2017, Concord Corporation issued eight year bonds with a face value of $6070000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are: 0.627 0.540 0.623 0.534 6.210 Present value of 1 for 8 periods at 6% Present value of 1 for 8 periods at 8% Present value of 1 for 16 periods at 3% Present value of 1 for 16 periods...
On January 1, 2017, Concord Corporation issued eight-year bonds with a face value of $6,300,000 and...
On January 1, 2017, Concord Corporation issued eight-year bonds with a face value of $6,300,000 and a stated interest rate of 6%, payable semiannually on starting in July on July 1 and January 1. The bonds were sold to yield 8%. Table values are: Present value of 1 for 8 periods at 6% 0.627 Present value of 1 for 8 periods at 8% 0.540 Present value of 1 for 16 periods at 3% 0.623 Present value of 1 for 16...
CUEIL ALLEMPLIFIURIES On January 1, 2017. Crane Company issued eight year bonds with a face value...
CUEIL ALLEMPLIFIURIES On January 1, 2017. Crane Company issued eight year bonds with a face value of $6150000 and a stated interest rate of 8% payable semiannually on June 30 and December 31. The bonds were sold to yield 10%. Table values are: Present value of 1 for 8 periods at 8% Present value of 1 for 8 periods at 10% Present value of 1 for 16 periods at 4% Present value of 1 for 16 periods at 5% Present...
On January 1, 2020, Swifty Corporation issued eight-year bonds with a face value of $5910000 and...
On January 1, 2020, Swifty Corporation issued eight-year bonds with a face value of $5910000 and a stated interest rate of 4%, payable semiannually on June 30 and December 31. The bonds were sold to yield 6%. Table values are: Present value of 1 for 8 periods at 4% 0.731Present value of 1 for 8 periods at 6% 0.627Present value of 1 for 16 periods at 2% 0.728Present value of 1 for 16 periods at 3% 0.623Present value of annuity for 8 periods at...
On January 1, 2017, Bramble Corp. issued eight-year bonds with a face value of $6120000 and...
On January 1, 2017, Bramble Corp. issued eight-year bonds with a face value of $6120000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12%. Table values are: Present value of 1 for 8 periods at 10% 0.467 Present value of 1 for 8 periods at 12% 0.404 Present value of 1 for 16 periods at 5% 0.458 Present value of 1 for 16 periods at 6% 0.394...
Multiple Choice Question 62 On January 1, 2017, Sheffield Corp. issued eight-year bonds with a face...
Multiple Choice Question 62 On January 1, 2017, Sheffield Corp. issued eight-year bonds with a face value of $6140000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12%. Table values are: 0.467 Present value of 1 for 8 periods at 10% Present value of 1 for 8 periods at 12% Present value of 1 for 16 periods at 5% Present value of 1 for 16 periods at...
1. On February 1, 2018, Ellison Co. issued eight-year bonds with a face value of $10,000,000...
1. On February 1, 2018, Ellison Co. issued eight-year bonds with a face value of $10,000,000 and a stated interest rate of 9%, payable semiannually on July 1 and January 1. The bonds were sold to yield 10%. The bonds are callable at 101 and convertible. The issue price of the bonds is Record the journal entries for February 2018 at issuance and July 1. 2. Using the information above, assume that the bonds issued by Ellison Co. are convertible...
On January 1, 2021, Splish Co. issued ten-year bonds with a face value of $6,200,000 and...
On January 1, 2021, Splish Co. issued ten-year bonds with a face
value of $6,200,000 and a stated interest rate of 10%, payable
semiannually on June 30 and December 31. The bonds were sold to
yield 12%. Table values are:
Present value of 1 for 10 periods at 10%
0.386
Present value of 1 for 10 periods at 12%
0.322
Present value of 1 for 20 periods at 5%
0.377
Present value of 1 for 20 periods at 6%
0.312...
18 19 20 are related questions. please help me with 21
A company issues $25,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2017. Interest is paid on June 30 and December 31. The proceeds from the bonds are $24,505,180. Using effective-interest amortization, how much interest expense will be recognized in 2017? A) $975,000 B) $1,950,000 C) $1,960,623 D) $1,960,415 Use the following to answer questions 19-20: On January 1, 2017, Ellison Co. issued eight-year bonds with a face...
On January 1, 2017, Concord Corporation issued eight year bonds with a face value of $6070000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are: 0.627 0.540 0.623 0.534 6.210 Present value of 1 for 8 periods at 6% Present value of 1 for 8 periods at 8% Present value of 1 for 16 periods at 3% Present value of 1 for 16 periods...
CUEIL ALLEMPLIFIURIES On January 1, 2017. Crane Company issued eight year bonds with a face value of $6150000 and a stated interest rate of 8% payable semiannually on June 30 and December 31. The bonds were sold to yield 10%. Table values are: Present value of 1 for 8 periods at 8% Present value of 1 for 8 periods at 10% Present value of 1 for 16 periods at 4% Present value of 1 for 16 periods at 5% Present...
Multiple Choice Question 62 On January 1, 2017, Sheffield Corp. issued eight-year bonds with a face value of $6140000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12%. Table values are: 0.467 Present value of 1 for 8 periods at 10% Present value of 1 for 8 periods at 12% Present value of 1 for 16 periods at 5% Present value of 1 for 16 periods at...
On January 1, 2021, Splish Co. issued ten-year bonds with a face
value of $6,200,000 and a stated interest rate of 10%, payable
semiannually on June 30 and December 31. The bonds were sold to
yield 12%. Table values are:
Present value of 1 for 10 periods at 10%
0.386
Present value of 1 for 10 periods at 12%
0.322
Present value of 1 for 20 periods at 5%
0.377
Present value of 1 for 20 periods at 6%
0.312...
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