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Cherry Corporation issued $10,000,000 bonds on January 1, 2018. The bonds have a 10-year term and...
Prescott Corporation issued ten thousand $1,000 bonds on January 1, 2021. The bonds have a 10-year...
Prescott Corporation issued ten thousand $1,000 bonds on January 1, 2021. The bonds have a 10-year term and pay interest semiannually. This is the partial bond amortization schedule for the bonds. Effective Decrease in Interest Balance Payment Cash Outstanding Balance 11,487,747 11,432,379 11,375,350 11,316,611 400,000 400,000 400,000 400,000 344,632 342,971 341,261 55,368 57,029 58,739 What is the stated annual rate of interest on the bonds? Multiple Choice o o
35)_ 35) Prescott Corporation issued ten thousand $1,000 bonds on January 1, 2018. The bonds have...
35)_ 35) Prescott Corporation issued ten thousand $1,000 bonds on January 1, 2018. The bonds have a 10-year term and pay interest semiannually. This is the partial bond amortization schedule for the bonds. Effective Interest Payment Cash Decrease in Balance 400,000 400,000 400,000 400,000 344,632 342,971 341,261 55,368 57,029 58,739 Outstanding Balance 11,487,747 11,432,379 11,375,350 11,316,611 What would be the total interest expense recognized for the bond issue over its full term? A) $9,487,747. B) $8,000,000. C) $11,487,747. D) $6,512,253.
Prescott Corporation issued ten thousand $1,000 bonds on January 1 2018. The bonds have a 10...
Prescott Corporation issued ten thousand $1,000 bonds on January 1 2018. The bonds have a 10 year term and pay interest semiannually. This is the partial bond amortization schedule for the bonds Effective Interest Decrease in Balance Payment Cash 400,000 400,000 400,000 400.000 344.632 342,971 341,261 55, 368 57,029 58,739 Outstanding Balance 11,487,747 11. 432.379 11,375, 350 11, 316, 611 What is the interest expense on the bonds in 2019 Multiple Choice $342.90 Oo oo $680759 $800.000
Which of the following is true concerning financial statement disclosure for debt instruments? a. The fair value of financial instruments must be disclosed either in the body of the financial statemen...
Which of the following is true concerning financial statement disclosure for debt instruments? a. The fair value of financial instruments must be disclosed either in the body of the financial statements or in disclosure notes b. Disclosures should include the aggregate amounts payable for each of the next five years for any long-term borrowing c. Both the issuer and the investor report interest as an operating activity on the statement of cash flows d. All of the above Chism Corporation...
On January 1, 2018, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June...
On January 1, 2018, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below Cash Effective Increase in Outstanding nterest Balance 438,361 430,000438,863 430,000439,395 430,000439,958 440,556 430,800 441,189 Balance 7,306,018 7,314,379 7,323,242 7,332,637 7,342,595 7,353,151 7,364,340 430,800 8,361 8,863 9,395 9,958 10,556 11,189 430,000 38 39 40 430,000 502,207 430,000 506,540 430,000 511,133 72,287 76,540 81,133 8,442, 327 8,518,867 8,600,000 Required 1. What is the face...
On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June...
On January 1, 2021, Tennessee Harvester Corporation issued
debenture bonds that pay interest semiannually on June 30 and
December 31. Portions of the bond amortization schedule appear
below:
Payment
Cash
Payment
Effective
Interest
Increase in
Balance
Outstanding
Balance
7,290,000
1
352,000
364,500
12,500
7,302,500
2
352,000
365,125
13,125
7,315,625
3
352,000
365,781
13,781
7,329,406
4
352,000
366,470
14,470
7,343,876
5
352,000
367,194
15,194
7,359,070
6
352,000
367,954
15,954
7,375,024
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~...
Discount-Mart issued ten thousand $1,000 bonds on January 1, 2021. The bonds have a 10-year term...
Discount-Mart issued ten thousand $1,000 bonds on January 1, 2021. The bonds have a 10-year term and pay interest semiannually. This is the partial bond amortization schedule for the bonds. Effective Decrease in Outstanding Payment Cash Interest Balance Balance 8,640,967 1 300,000 345,639 45,639 8,686,606 2 300,000 347,464 47,464 8,734,070 3 300,000 349,363 49,363 8,783,433 4 300,000 What is the effective annual rate of interest on the bonds? 6%. 8%. 3%. 4%.
1 On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on...
1
On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below. Cash Payment Effective Interest Increase in Balance Payment 1 2 3 4 5 6 430,000 430,000 430,000 430,000 430,000 430,000 438,361 438,863 439,395 439,958 440,556 441,189 8,361 8,863 9,395 9,958 10,556 11,189 Outstanding Balance 7,306,018 7,314,379 7,323,242 7,332,637 7,342,595 7,353, 151 7,364,340 38 39 40 430,000 430,000 430,000 502,207 506,540 511,133...
On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June...
On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: Cash Payment Effective Interest Increase in Balance Payment 2 225,000 225,000 225,000 225,000 225,000 225,000 240, 622 241, 247 241,896 242, 572 243, 275 244,006 15,622 16, 247 16,896 17,572 18,275 19,006 Outstanding Balance 6,015,542 6,031,164 6,047,411 6,064, 307 6,081,879 6,100,154 6,119,160 5 38 39 40 225,000 225,000 225,000 291,675 294, 342...
On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June...
On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: Payment Cash Effective Increase in Outstanding Payment Interest Balance Balance 5,694,713 213,000 227,789 14,789 5,709,502 213,000 228, 380 15,380 5,724,882 213,000 228,995 15,995 5,740,877 213,000 229,635 16,635 5,757,512 213,000 230,300 17,300 5,774,812 213,000 230,992 17,992 5,792,804 213,000 213,000 213,000 276,119 278,644 281,267 63,119 65,644 68,267 6,966,089 7,031,733 7,100,000 Required: 1. What is...
Prescott Corporation issued ten thousand $1,000 bonds on January 1, 2021. The bonds have a 10-year term and pay interest semiannually. This is the partial bond amortization schedule for the bonds. Effective Decrease in Interest Balance Payment Cash Outstanding Balance 11,487,747 11,432,379 11,375,350 11,316,611 400,000 400,000 400,000 400,000 344,632 342,971 341,261 55,368 57,029 58,739 What is the stated annual rate of interest on the bonds? Multiple Choice o o
35)_ 35) Prescott Corporation issued ten thousand $1,000 bonds on January 1, 2018. The bonds have a 10-year term and pay interest semiannually. This is the partial bond amortization schedule for the bonds. Effective Interest Payment Cash Decrease in Balance 400,000 400,000 400,000 400,000 344,632 342,971 341,261 55,368 57,029 58,739 Outstanding Balance 11,487,747 11,432,379 11,375,350 11,316,611 What would be the total interest expense recognized for the bond issue over its full term? A) $9,487,747. B) $8,000,000. C) $11,487,747. D) $6,512,253.
Prescott Corporation issued ten thousand $1,000 bonds on January 1 2018. The bonds have a 10 year term and pay interest semiannually. This is the partial bond amortization schedule for the bonds Effective Interest Decrease in Balance Payment Cash 400,000 400,000 400,000 400.000 344.632 342,971 341,261 55, 368 57,029 58,739 Outstanding Balance 11,487,747 11. 432.379 11,375, 350 11, 316, 611 What is the interest expense on the bonds in 2019 Multiple Choice $342.90 Oo oo $680759 $800.000
On January 1, 2018, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below Cash Effective Increase in Outstanding nterest Balance 438,361 430,000438,863 430,000439,395 430,000439,958 440,556 430,800 441,189 Balance 7,306,018 7,314,379 7,323,242 7,332,637 7,342,595 7,353,151 7,364,340 430,800 8,361 8,863 9,395 9,958 10,556 11,189 430,000 38 39 40 430,000 502,207 430,000 506,540 430,000 511,133 72,287 76,540 81,133 8,442, 327 8,518,867 8,600,000 Required 1. What is the face...
On January 1, 2021, Tennessee Harvester Corporation issued
debenture bonds that pay interest semiannually on June 30 and
December 31. Portions of the bond amortization schedule appear
below:
Payment
Cash
Payment
Effective
Interest
Increase in
Balance
Outstanding
Balance
7,290,000
1
352,000
364,500
12,500
7,302,500
2
352,000
365,125
13,125
7,315,625
3
352,000
365,781
13,781
7,329,406
4
352,000
366,470
14,470
7,343,876
5
352,000
367,194
15,194
7,359,070
6
352,000
367,954
15,954
7,375,024
~
~
~
~
~
~
~
~
~
~
~...
Discount-Mart issued ten thousand $1,000 bonds on January 1, 2021. The bonds have a 10-year term and pay interest semiannually. This is the partial bond amortization schedule for the bonds. Effective Decrease in Outstanding Payment Cash Interest Balance Balance 8,640,967 1 300,000 345,639 45,639 8,686,606 2 300,000 347,464 47,464 8,734,070 3 300,000 349,363 49,363 8,783,433 4 300,000 What is the effective annual rate of interest on the bonds? 6%. 8%. 3%. 4%.
1
On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below. Cash Payment Effective Interest Increase in Balance Payment 1 2 3 4 5 6 430,000 430,000 430,000 430,000 430,000 430,000 438,361 438,863 439,395 439,958 440,556 441,189 8,361 8,863 9,395 9,958 10,556 11,189 Outstanding Balance 7,306,018 7,314,379 7,323,242 7,332,637 7,342,595 7,353, 151 7,364,340 38 39 40 430,000 430,000 430,000 502,207 506,540 511,133...
On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: Cash Payment Effective Interest Increase in Balance Payment 2 225,000 225,000 225,000 225,000 225,000 225,000 240, 622 241, 247 241,896 242, 572 243, 275 244,006 15,622 16, 247 16,896 17,572 18,275 19,006 Outstanding Balance 6,015,542 6,031,164 6,047,411 6,064, 307 6,081,879 6,100,154 6,119,160 5 38 39 40 225,000 225,000 225,000 291,675 294, 342...
On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: Payment Cash Effective Increase in Outstanding Payment Interest Balance Balance 5,694,713 213,000 227,789 14,789 5,709,502 213,000 228, 380 15,380 5,724,882 213,000 228,995 15,995 5,740,877 213,000 229,635 16,635 5,757,512 213,000 230,300 17,300 5,774,812 213,000 230,992 17,992 5,792,804 213,000 213,000 213,000 276,119 278,644 281,267 63,119 65,644 68,267 6,966,089 7,031,733 7,100,000 Required: 1. What is...
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