*** NEED HELP ON THE PRESENT VALUE AMOUNTS AND JOURNAL ENTRIES ***********
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*** NEED HELP ON THE PRESENT VALUE AMOUNTS AND
JOURNAL ENTRIES ***********
The Bradford Company issued...
The Bradford Company issued 12% bonds, dated January 1, with a face amount of $96 million...
The Bradford Company issued 12% bonds, dated January 1, with a face amount of $96 million on January 1, 2021. The bonds mature on December 31, 2030 (10 years). For bonds of similar risk and maturity, the market yield is 14%. 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: 1. Determine...
Universal Foods issued 8% bonds, dated January 1, with a face amount of $160 million on...
Universal Foods issued 8% bonds, dated January 1, with a face
amount of $160 million on January 1, 2016. The bonds mature on
December 31, 2030 (15 years). The market rate of interest for
similar issues was 10%. Interest is paid semiannually on June 30
and December 31. Universal uses the straight-line method. (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:...
Dunphy Company issued $10,000 of 6%, 10-year bonds at par value on January 1. Interest is...
Dunphy Company issued $10,000 of 6%, 10-year bonds at par value on January 1. Interest is paid semiannually each June 30 and December 31. Prepare the entries for (a) the issuance of the bonds and (b) the first interest payment on June 30. View transaction list Journal entry worksheet Record the issuance of the bonds. Note: Enter debits before credits Date Jan 01 General Journal Debit Credit Record entry Clear entry View general journal < Prev 1 of 17 !!!...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE. THANK YOU! Exercise 14-3 (Algo) Determine...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE.
THANK YOU!
Exercise 14-3 (Algo) Determine the price of bonds; issuance; effective interest (LO14-2] The Bradford Company issued 14% bonds, dated January 1, with a face amount of $89 million on January 1, 2021. The bonds mature on December 31, 2030 (10 years). For bonds of similar risk and maturity, the market yield is 16%. Interest is paid semiannually on June 30 and December 31. (FV of $1, PV of...
On January 1, 2021, for $17.2 million, Marker Company issued 8% bonds, dated January 1, 2021,...
On January 1, 2021, for $17.2 million, Marker Company issued 8% bonds, dated January 1, 2021, with a face amount of $19.2 million. For bonds of similar risk and maturity, the market yield is 10%. Interest is paid semiannually on June 30 and. December 31. Required: 1. Prepare the journal entry to record interest on June 30, 2021, using the effective interest method. 2. Prepare the journal entry to record interest on December 31, 2021, using the effective interest method....
Wookie Company issues 8%, five-year bonds, on January 1 of this year, with a par value...
Wookie Company issues 8%, five-year bonds, on January 1 of this year, with a par value of $92,000 and semiannual interest payments. (0) (1) (2) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Unamortized Premium $7,951 7,156 6,361 Carrying Value $99,951 99, 156 98,361 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)...
On January 1, a company purchased 4%, 10-year corporate bonds for $63,842,205 as an investment. The...
On January 1, a company purchased 4%, 10-year corporate bonds for $63,842,205 as an investment. The bonds have a face amount of $75 million and are priced to yield 6%. Interest is paid semiannually. Prepare a partial amortization table at the effective interest rate on June 30 and December 31 Prepare the journal entries necessary to record revenue at the effective interest rate on June 30 and December 31 Complete this question by entering your answers in the tabs below....
On January 1, Boston Enterprises issues bonds that have a $1,650,000 par value, mature in 20...
On January 1, Boston Enterprises issues bonds that have a $1,650,000 par value, mature in 20 years, and pay 10% interest semiannually on June 30 and December 31. The bonds are sold at par. 1. How much interest will Boston pay (in cash) to the bondholders every six months? 2. 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....
Paulson Company issues 7%, four-year bonds, on January 1 of this year, with a par value...
Paulson Company issues 7%, four-year bonds, on January 1 of this year, with a par value of $109,000 and semiannual interest payments. (0) (1) (2) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Unamortized Discount $6,913 6,049 5,185 Carrying Value $102,087 102,951 103,815 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) The...
Help Save & alt Sub On January 1, 2021, for $18.4 million, Cenotaph Company purchased 10%...
Help Save & alt Sub On January 1, 2021, for $18.4 million, Cenotaph Company purchased 10% bonds, dated January 1, 2021, with a face amount of $20.4 million. For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31 Required: 1. Prepare the journal entry to record interest on June 30, 2021, using the effective interest method. 2. Prepare the journal entry to record interest on December 31, 2021,...
The Bradford Company issued 12% bonds, dated January 1, with a face amount of $96 million on January 1, 2021. The bonds mature on December 31, 2030 (10 years). For bonds of similar risk and maturity, the market yield is 14%. 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: 1. Determine...
Universal Foods issued 8% bonds, dated January 1, with a face
amount of $160 million on January 1, 2016. The bonds mature on
December 31, 2030 (15 years). The market rate of interest for
similar issues was 10%. Interest is paid semiannually on June 30
and December 31. Universal uses the straight-line method. (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:...
Dunphy Company issued $10,000 of 6%, 10-year bonds at par value on January 1. Interest is paid semiannually each June 30 and December 31. Prepare the entries for (a) the issuance of the bonds and (b) the first interest payment on June 30. View transaction list Journal entry worksheet Record the issuance of the bonds. Note: Enter debits before credits Date Jan 01 General Journal Debit Credit Record entry Clear entry View general journal < Prev 1 of 17 !!!...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE.
THANK YOU!
Exercise 14-3 (Algo) Determine the price of bonds; issuance; effective interest (LO14-2] The Bradford Company issued 14% bonds, dated January 1, with a face amount of $89 million on January 1, 2021. The bonds mature on December 31, 2030 (10 years). For bonds of similar risk and maturity, the market yield is 16%. Interest is paid semiannually on June 30 and December 31. (FV of $1, PV of...
On January 1, 2021, for $17.2 million, Marker Company issued 8% bonds, dated January 1, 2021, with a face amount of $19.2 million. For bonds of similar risk and maturity, the market yield is 10%. Interest is paid semiannually on June 30 and. December 31. Required: 1. Prepare the journal entry to record interest on June 30, 2021, using the effective interest method. 2. Prepare the journal entry to record interest on December 31, 2021, using the effective interest method....
Wookie Company issues 8%, five-year bonds, on January 1 of this year, with a par value of $92,000 and semiannual interest payments. (0) (1) (2) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Unamortized Premium $7,951 7,156 6,361 Carrying Value $99,951 99, 156 98,361 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)...
On January 1, a company purchased 4%, 10-year corporate bonds for $63,842,205 as an investment. The bonds have a face amount of $75 million and are priced to yield 6%. Interest is paid semiannually. Prepare a partial amortization table at the effective interest rate on June 30 and December 31 Prepare the journal entries necessary to record revenue at the effective interest rate on June 30 and December 31 Complete this question by entering your answers in the tabs below....
On January 1, Boston Enterprises issues bonds that have a $1,650,000 par value, mature in 20 years, and pay 10% interest semiannually on June 30 and December 31. The bonds are sold at par. 1. How much interest will Boston pay (in cash) to the bondholders every six months? 2. 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....
Paulson Company issues 7%, four-year bonds, on January 1 of this year, with a par value of $109,000 and semiannual interest payments. (0) (1) (2) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Unamortized Discount $6,913 6,049 5,185 Carrying Value $102,087 102,951 103,815 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) The...
Help Save & alt Sub On January 1, 2021, for $18.4 million, Cenotaph Company purchased 10% bonds, dated January 1, 2021, with a face amount of $20.4 million. For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31 Required: 1. Prepare the journal entry to record interest on June 30, 2021, using the effective interest method. 2. Prepare the journal entry to record interest on December 31, 2021,...
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