ZuoTi.Pro
Question
is this correct ?
pore ton par price. 11) On January 1, 2019, Monarch Enterprises issued 8% bonds dated January 1, 2019, with a face amount of
business   finance   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Yeah it is correct.
1. Coupon amount/Annual Interest = $800,000.
2. Price/Value of bond today= $9,128,947.86

0 0
Add a comment
Know the answer?
Add Answer to:
is this correct ? pore ton par price. 11) On January 1, 2019, Monarch Enterprises issued...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • DOn January 1, 2019, Monarch Enterprises issued 8% bonds dated January 1, 2019, witha face amount...

    DOn January 1, 2019, Monarch Enterprises issued 8% bonds dated January 1, 2019, witha face amount of $10 million. The bonds mature in 2025 (10 years). For bonds of similar risk and maturity, the market yield is 10% Interest is paid annually on December 31. (Use the Time Value of Money Factor Tables and show all Calculations) (a) What is the amount of the annual interest payment? (b) What is the price of the bond on the issue date (show...

  • On January 1, 2019, Lagune & Sons issued 9% bonds dated January 1, 2019, with a...

    On January 1, 2019, Lagune & Sons issued 9% bonds dated January 1, 2019, with a face amount of $200,000. The bonds mature in 20 years. The effective interest rate for these bonds was 10%. Interest is paid semiannually on June 30 and December 31. Lagune’s fiscal year is the calendar year. 1. Calculate the issue price of the bond. Show the calculation. 2. Prepare an amortization schedule for the first year of the bond. 3. Prepare the necessary entries...

  • On January 1, 2019, Bishop Company issued 8% bonds dated January 1, 2019, with a face...

    On January 1, 2019, Bishop Company issued 8% bonds dated January 1, 2019, with a face amount of $20 million. The bonds mature in 2028 (10 years). For bonds of similar risk and maturity, the market yield is 10%. Interest is paid semiannually on June 30 and December 31. Determine the price of the bonds at January 1, 2019. Show computations Prepare the journal entry to record the bond issuance by Bishop on January 1, 2019. Prepare the journal entry...

  • Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $3,000,000 par value,...

    Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $3,000,000 par value, mature in four years, and pay 8% interest semiannually on June 30 and December 31. 1. Record the entry for the issuance of bonds for cash on January 1 2. Record the entry for the first semlannual interest payment and the second semiannual interest payment. 3. Record the entry for the maturity of the bonds on December 31, 2022 (assume semiannual interest is already...

  • Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $1,900,000 par value,...

    Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $1,900,000 par value, mature in four years, and pay 6% interest semiannually on June 30 and December 31. 1. Record the entry for the issuance of bonds for cash on January 1. 2. Record the entry for the first semiannual interest payment and the second semiannual interest payment. 3. Record the entry for the maturity of the bonds on December 31, 2022 (assume semiannual interest is already...

  • Brussels Enterprises issues bonds at par dated January 1, 2019, that has a $2,500,000 par value,...

    Brussels Enterprises issues bonds at par dated January 1, 2019, that has a $2,500,000 par value, mature in four years, and pay 6% interest semiannually on June 30 and December 31. 1. Record the entry for the issuance of bonds for cash on January 1. 2. Record the entry for the first semiannual interest payment and the second semiannual interest payment. 3. Record the entry for the maturity of the bonds on December 31, 2022 (assume semiannual interest is already...

  • Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $3,400,000 par value,...

    Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $3,400,000 par value, mature in four years, and pay 9% interest semiannually on June 30 and December 31. 1. Record the entry for the issuance of bonds for cash on January 1. 2. Record the entry for the first semiannual interest payment and the second semiannual interest payment. 3. Record the entry for the maturity of the bonds on December 31, 2022 (assume semiannual interest is already...

  • Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $2,700,000 par value,...

    Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $2,700,000 par value, mature in four years, and pay 6% interest semiannually on June 30 and December 31. 1. Record the entry for the issuance of bonds for cash on January 1. 2. Record the entry for the first semiannual interest payment and the second semiannual interest payment. 3. Record the entry for the maturity of the bonds on December 31, 2022 (assume semiannual interest is already...

  • On January 1, 2021, Mania Enterprises issued 15% bonds dated January 1, 2021, with a face...

    On January 1, 2021, Mania Enterprises issued 15% bonds dated January 1, 2021, with a face amount of $28 million. The bonds mature in 2033 (10 years). For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Determine the price of...

  • Ava, Inc., issued 8% bonds, dated January 1, with a face amount of $373,900 on January...

    Ava, Inc., issued 8% bonds, dated January 1, with a face amount of $373,900 on January 1, 2016 for an issue price of 106.5. The bonds mature on December 31, 2025 (10 years). For bonds of similar risk and maturity the market yield is 10%. Interest is paid annually on December 31. What is the interest payment on the bond?

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT