Homework Answers
The carrying value of the bond as on 31st December, 2022 is already given in the question which is : 11,157,170$.
Interest % used is 20% annually or 10% semi-annually.
Discount rate used = (766,538/10,950,544) = 7% semi-annually or 14% annually.
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Exam Help Save & Exit Submit Discount Mart issues $12 million in bonds on January 1,...
Help Save & Exit Discount-Mart issues $10 million in bonds on January 1, 2021. The bonds...
Help Save & Exit Discount-Mart issues $10 million in bonds on January 1, 2021. The bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year, Below is a partial bond amortization schedule for the bonds Interest Increase in Carrying Value $8,640,967 8,686,606 8,734,070 Cash Paid Expense Carrying Value Date 01/01/2021 06/30/2021 $30ee, eea $345,639 347,464 349,363 351,337 $45,639 47,464 49,363 51,337 12/31/2021 308,000 06/38/2822 . 300,e00 300,e00 8,783,433 8,834,770 12/31/2022 What is the...
Discount-Mart issues $11 million in bonds on January 1, 2021. The bonds have a seven-year term...
Discount-Mart issues $11 million in bonds on January 1, 2021. The bonds have a seven-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds: Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value 01/01/2021 $ 9,911,149 06/30/2021 $ 440,000 $ 495,557 $ 55,557 9,966,706 12/31/2021 440,000 498,335 58,335 10,025,041 06/30/2022 440,000 501,252 61,252 10,086,293 12/31/2022 440,000 504,315 64,315 10,150,608 What is the stated annual...
help nnectmeducation.com/low.connect hom Her 8 and 96 Help Save Smit Discount-Mart issues $16 milion in bonds...
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nnectmeducation.com/low.connect hom Her 8 and 96 Help Save Smit Discount-Mart issues $16 milion in bonds on January 1 202L The bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds Cash Paid Interest Expense Increase in Carrying Value Date 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 $540,000 540.000 640,000 640,000 $700, 302 703, 317 706, 483 799,807 $50.382 63,317 66, 483 69,897 Carrying Value...
Discount-Mart isues $18 million in bonds on January 1, 2021. The bonds have a ten-year term...
Discount-Mart isues $18 million in bonds on January 1, 2021. The bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds: Interest Increase in Carrying Value Date e1/01/2021 Cash Paid Expense Carrying Value $15,935,414 15,991,539 16,051,031 16,114,093 16,180,939 06/30/2021 $900,000 900,000 gee, e00 $956,125 959,492 963,062 966, 846 $56,125 59,492 63,062 66,846 12/31/2021 06/30/2022 12/31/2022 900, 0০০ Whet is the stated annual rate...
On January 1, 2021, Splash City issues $370,000 of 6% bonds, due in 20 years, with...
On January 1, 2021, Splash City issues $370,000 of 6% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 7% and the bonds issued at $330,493. Required: 1. Using an amortization schedule, show that the bonds have a carrying value of $332,463 on December 31, 2022. (Round Interest expense to nearest whole dollar.) Date Cash Paid Interest Expense Increase in Carrying Value Carrying...
11) Discount-Mart issues $10 million in bonds on January 1, 2018. The bonds have a ten-year...
11) Discount-Mart issues $10 million in bonds on January 1, 2018. The bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds: Increase in Carrying Value Cash Paid Date Interest Expense Carrying Value $8,640,967 8,686,606 8,734,070 8,783,433 8,834,770 1/1/2018 6/30/2018 12/31/2018 6/30/2019 12/31/2019 $300,000$345,639 300,000 300,000 300,000 $45,639 47,464 49,363 51,337 347,464 349,363 351,337 What is the interest expense on the bonds in...
supposed the following Help Save & Exit Submit Exercise Check my work Quatro Co. issues bonds...
supposed the following
Help Save & Exit Submit Exercise Check my work Quatro Co. issues bonds dated January 1, 2019, with a par value of $850,000. The bonds' annual contract rate is 12%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 10%, and the bonds are sold for $893,131. 1. What is the amount of the premium on these bonds at...
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Required information [The following information applies to the questions displayed below.] On January 1, 2021, Splash...
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Help Save & Exit Discount-Mart issues $10 million in bonds on January 1, 2021. The bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year, Below is a partial bond amortization schedule for the bonds Interest Increase in Carrying Value $8,640,967 8,686,606 8,734,070 Cash Paid Expense Carrying Value Date 01/01/2021 06/30/2021 $30ee, eea $345,639 347,464 349,363 351,337 $45,639 47,464 49,363 51,337 12/31/2021 308,000 06/38/2822 . 300,e00 300,e00 8,783,433 8,834,770 12/31/2022 What is the...
help
nnectmeducation.com/low.connect hom Her 8 and 96 Help Save Smit Discount-Mart issues $16 milion in bonds on January 1 202L The bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds Cash Paid Interest Expense Increase in Carrying Value Date 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 $540,000 540.000 640,000 640,000 $700, 302 703, 317 706, 483 799,807 $50.382 63,317 66, 483 69,897 Carrying Value...
Discount-Mart isues $18 million in bonds on January 1, 2021. The bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds: Interest Increase in Carrying Value Date e1/01/2021 Cash Paid Expense Carrying Value $15,935,414 15,991,539 16,051,031 16,114,093 16,180,939 06/30/2021 $900,000 900,000 gee, e00 $956,125 959,492 963,062 966, 846 $56,125 59,492 63,062 66,846 12/31/2021 06/30/2022 12/31/2022 900, 0০০ Whet is the stated annual rate...
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supposed the following
Help Save & Exit Submit Exercise Check my work Quatro Co. issues bonds dated January 1, 2019, with a par value of $850,000. The bonds' annual contract rate is 12%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 10%, and the bonds are sold for $893,131. 1. What is the amount of the premium on these bonds at...
Given the information below, which bond(s) will be issued at a discount? Stated Rate of Return Market Rate of Return Bond 1 7% 5% Bond 2 8% 8% Bond 3 12% 14% Bond 4 9% 11% Bond 3. Bond 4. Bonds 3 and 4 Tony Hawk's Adventure (THA) issued callable bonds on January 1, 2021. THA's accountant has projected the following amortization schedule from issuance until maturity Interest Expense Increase in value Carrying Value Cash Paid Date 01/01/2021 06/30/2021 12/31/2021...
Required information [The following information applies to the questions displayed below.] On January 1, 2021, Splash City issues $450,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 8% and the bonds issued at $419,422. Required: 1. Using an amortization schedule, show that the bonds have a carrying value of $423,782 on December 31, 2022. (Round Interest expense to nearest whole...
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