Homework Answers
| 1) | ||||
| Cromley | ||||
| Calculate cash proceeds on issuance: | ||||
| Maturity value of bonds payable = FV | $ 60,000,000.00 | |||
| Market Interest Rate semiannual =Rate = 10%/2 | 5.00% | |||
| N = 4 years x 2 | 8 | |||
| PMT = $90,000,000 x 8%/2 | $ 2,400,000.00 | |||
| Type | 0 | |||
| Present Value = PV(5%,8,-$2400000,-60000000,0) | $ 56,122,072 | |||
| Bonds Payable | $ 60,000,000.00 | |||
| Less:Present Value of Bonds | $ 56,122,072 | |||
| Discount on Bonds Payable | $ 3,877,928 | |||
| Barnwell | ||||
| Barnwell purchased 60,000 ÷ 60,000,000 = 0.1% of the bonds. | ||||
| Present Value =84,183,109 x 0.1% | $ 56,122.07 | |||
| 2) | ||||
| Cromley | ||||
| Schedule of Bond Discount Amortization | ||||
| Effective-Interest Method | ||||
| 8% Bonds Sold to Yield 10% | ||||
| Date | Cash Payment | Effective Interest Expense = Carrying Amount x 5% | Discount Amortized = Int. exp - Cash paid | Carrying Amount of Bonds = Previous bal + Discount amortized |
| $ 56,122,072 | ||||
| 1 | $ 2,400,000 | $ 2,806,104 | $ 406,104 | $ 56,528,176 |
| 2 | $ 2,400,000 | $ 2,826,409 | $ 426,409 | $ 56,954,585 |
| 3 | $ 2,400,000 | $ 2,847,729 | $ 447,729 | $ 57,402,314 |
| 4 | $ 2,400,000 | $ 2,870,116 | $ 470,116 | $ 57,872,430 |
| 5 | $ 2,400,000 | $ 2,893,621 | $ 493,621 | $ 58,366,051 |
| 6 | $ 2,400,000 | $ 2,918,303 | $ 518,303 | $ 58,884,354 |
| 7 | $ 2,400,000 | $ 2,944,218 | $ 544,218 | $ 59,428,571 |
| 8 | $ 2,400,000 | $ 2,971,429 | $ 571,429 | $ 60,000,000 |
| Total | $ 19,200,000 | $ 23,077,928 | $ 3,877,928 | |
| Barnwell | ||||
| Schedule of Bond Discount Amortization | ||||
| Effective-Interest Method | ||||
| 8% Bonds Sold to Yield 10% | ||||
| Date | Cash Receipt | Effective Interest Expense = Carrying Amount x 5% | Discount Amortized = Int. exp - Cash paid | Carrying Amount of Bonds = Previous bal + Discount amortized |
| $ 56,122.07 | ||||
| 1 | $ 2,400.00 | $ 2,806.10 | $ 406.10 | $ 56,528.18 |
| 2 | $ 2,400.00 | $ 2,826.41 | $ 426.41 | $ 56,954.58 |
| 3 | $ 2,400.00 | $ 2,847.73 | $ 447.73 | $ 57,402.31 |
| 4 | $ 2,400.00 | $ 2,870.12 | $ 470.12 | $ 57,872.43 |
| 5 | $ 2,400.00 | $ 2,893.62 | $ 493.62 | $ 58,366.05 |
| 6 | $ 2,400.00 | $ 2,918.30 | $ 518.30 | $ 58,884.35 |
| 7 | $ 2,400.00 | $ 2,944.22 | $ 544.22 | $ 59,428.57 |
| 8 | $ 2,400.00 | $ 2,971.43 | $ 571.43 | $ 60,000.00 |
| Total | $ 19,200.00 | $ 23,077.93 | $ 3,877.93 | |
| 3) Prepare the journal entries to record (a) the issuance of the bonds by Cromley and (b) Barnwell’s investment on February 1, 2018 | ||||
| Account Titles & Explanation | Debit | Credit | ||
| Cromley: | ||||
| Cash | $ 56,122,072.34 | |||
| Discount on Bonds Payable | $ 3,877,927.66 | |||
| Bonds Payable | $ 60,000,000 | |||
| Barnwell: | ||||
| Investment in Bonds | $ 60,000 | |||
| Discount on bond investment | $ 3,878 | |||
| Cash | $ 56,122 | |||
| 4) | ||||
| Part 4: Prepare the journal entries by both firms to record all subsequent events related to the bonds through January 31, 2020 | ||||
| Cromley | ||||
| Date | Account Titles and Explanation | Debit | Credit | |
| 31-Jul-21 | Interest Expenses | $ 2,806,103.62 | ||
| Discount on Bonds Payable | $ 406,103.62 | |||
| Cash | $ 2,400,000.00 | |||
| 31-Dec-21 | Interest Expenses | $ 2,355,340.67 | ||
| Discount on Bonds Payable | $ 355,340.67 | |||
| Interest Payable | $ 2,000,000.00 | |||
| Jan 31,2022 | Interest Expenses | $ 471,068.13 | ||
| Interest Payable | $ 2,000,000.00 | |||
| Discount on Bonds Payable | $ 71,068.13 | |||
| Cash | $ 2,400,000.00 | |||
| 31-Jul-22 | Interest Expenses | $ 2,847,729.24 | ||
| Discount on Bonds Payable | $ 447,729.24 | |||
| Cash | $ 2,400,000.00 | |||
| 31-Dec-22 | Interest Expenses | $ 2,391,763.08 | ||
| Discount on Bonds Payable | $ 391,763.08 | |||
| Interest Payable | $ 2,000,000.00 | |||
| Jan 31,2023 | Interest Expenses | $ 478,352.62 | ||
| Interest Payable | $ 2,000,000.00 | |||
| Discount on Bonds Payable | $ 78,352.62 | |||
| Cash | $ 2,400,000.00 | |||
| Barnwell | ||||
| Date | Account Titles and Explanation | Debit | Credit | |
| 31-Jul-21 | Cash | $ 2,400.00 | ||
| Discount on Bond Investment | $ 406.10 | |||
| Interest Revenue | $ 2,806.10 | |||
| 31-Dec-21 | Interest Receivable | $ 2,000.00 | ||
| Discount on Bond Investment | $ 355.34 | |||
| Interest Revenue | $ 2,355.34 | |||
| Jan 31,2022 | Cash | $ 2,400.00 | ||
| Discount on Bond Investment | $ 71.07 | |||
| Interest Revenue | $ 471.07 | |||
| Interest Receivable | $ 2,000.00 | |||
| 31-Jul-22 | Cash | $ 2,400.00 | ||
| Discount on Bond Investment | $ 447.73 | |||
| Interest Revenue | $ 2,847.73 | |||
| 31-Dec-22 | Interest Receivable | $ 2,000.00 | ||
| Discount on Bond Investment | $ 391.76 | |||
| Interest Revenue | $ 2,391.76 | |||
| Jan 31,2023 | Cash | $ 2,400.00 | ||
| Discount on Bond Investment | $ 78.35 | |||
| Interest Revenue | $ 478.35 | |||
| Interest Receivable | $ 2,000.00 | |||
Add Answer to:
TABLE 1 Future Value of $1 FV = $1(1+i)" 20.0% 1.20000 1.44000 ndi 1.0% 1 1.01000...
TABLE 1 Future Value of $1 FV = $1(1+i)" 20.0% 1.20000 1.44000 ndi 1.0% 1 1.01000...
TABLE 1 Future Value of $1 FV = $1(1+i)" 20.0% 1.20000 1.44000 ndi 1.0% 1 1.01000 2 1.02010 3 1.03030 4 1.04060 5 1.05101 1.5% 2.0% 2.5% 1.01500 1.02000 1.02500 1.03022 1.04040 1.05063 1.04568 1.06121 1.07689 1.06136 1.08243 1.10381 1.07728 1.10408 1.13141 3.0% 1.03000 1.06090 1.09273 1.12551 1.15927 3.5% 4.0% 4.5% 5.0% 5.5% 1.03500 1.04000 1.04500 1.05000 1.05500 1.07123 1.08160 1.09203 1.10250 1.11303 1.10872 1.12486 1.14117 1.15763 1.17424 1.14752 1.16986 1.19252 1.21551 1.23882 1.18769 1.21665 1.24618 1.27628 1.30696 6.0% 7.0%...
TABLE 1 Future Value of $1 FV = $1(1+i)" 20.0% 1.20000 1.44000 ndi 1.0% 1 1.01000...
TABLE 1 Future Value of $1 FV = $1(1+i)" 20.0% 1.20000 1.44000 ndi 1.0% 1 1.01000 2 1.02010 3 1.03030 4 1.04060 5 1.05101 1.5% 2.0% 2.5% 1.01500 1.02000 1.02500 1.03022 1.04040 1.05063 1.04568 1.06121 1.07689 1.06136 1.08243 1.10381 1.07728 1.10408 1.13141 3.0% 1.03000 1.06090 1.09273 1.12551 1.15927 3.5% 4.0% 4.5% 5.0% 5.5% 1.03500 1.04000 1.04500 1.05000 1.05500 1.07123 1.08160 1.09203 1.10250 1.11303 1.10872 1.12486 1.14117 1.15763 1.17424 1.14752 1.16986 1.19252 1.21551 1.23882 1.18769 1.21665 1.24618 1.27628 1.30696 6.0% 7.0%...
TABLE 1 Future Value of $1 FV = $1(1+i)" 20.0% 1.20000 1.44000 ndi 1.0% 1 1.01000...
TABLE 1 Future Value of $1 FV = $1(1+i)" 20.0% 1.20000 1.44000 ndi 1.0% 1 1.01000 2 1.02010 3 1.03030 4 1.04060 5 1.05101 1.5% 2.0% 2.5% 1.01500 1.02000 1.02500 1.03022 1.04040 1.05063 1.04568 1.06121 1.07689 1.06136 1.08243 1.10381 1.07728 1.10408 1.13141 3.0% 1.03000 1.06090 1.09273 1.12551 1.15927 3.5% 4.0% 4.5% 5.0% 5.5% 1.03500 1.04000 1.04500 1.05000 1.05500 1.07123 1.08160 1.09203 1.10250 1.11303 1.10872 1.12486 1.14117 1.15763 1.17424 1.14752 1.16986 1.19252 1.21551 1.23882 1.18769 1.21665 1.24618 1.27628 1.30696 6.0% 7.0%...
A variety of spectra for an organic compound with molecular formula C10H16O are presented below. The experimental accurate mass using (+) APCI source is 153.1280 u. The 1H, 13C, COSY, HSQC and HMBC NM...
A variety of spectra for an organic compound with molecular
formula C10H16O are presented below. The
experimental accurate mass using (+) APCI source is 153.1280 u. The
1H, 13C, COSY, HSQC and HMBC NMR spectra are given in the following
slides. Propose a structure for this unknown and answer or address
the following questions or requirements:
d. If there are still any questionable assignments, propose
additional NMR experiments which would solve those questions and
briefly explain specifically what correlations you...
A variety of spectra for an organic compound with molecular formula C10H16O are presented below. The experimental accurate mass using (+) APCI source is 153.1280 u. The 1H, 13C, COSY, HSQC and HMBC NM...
A variety of spectra for an organic compound with molecular
formula C10H16O are presented below. The
experimental accurate mass using (+) APCI source is 153.1280 u. The
1H, 13C, COSY, HSQC and HMBC NMR spectra are given in the following
slides. Propose a structure for this unknown and answer or address
the following questions or requirements:
a. Using the most abundant isotopes of C, H and O, what are the
errors in ppm and milli-Daltons for the experimental accurate
mass?...
analyze this NMR & IR S23 CDC13 QE-300 240 UN (43 MIL.) 10.02s, 1H), 7.716.J-2 Hz....
analyze this NMR & IR
S23 CDC13 QE-300 240 UN (43 MIL.) 10.02s, 1H), 7.716.J-2 Hz. ) 2.0 11.5 11.0 10.5 10.0 9.5 9.0 8.5 8.0 7.5 7.0 6.5 6.0 4.0 3.5 3.0 2.5 20 15 100.5 0.0 -0.5 -1.0 -1.5 -2. 5.5 5.0 4.5 fl (ppm)
Fill out the tables below of the starting material and pure product by using the given...
Fill out the tables below of the starting material and pure
product by using the given NMR spectrums. Identify if the pure
isomer of methyl nitrobenzoate as ortho, meta, or para.
Complete the table below using your proton NMR spectrum of your starting material. Be sure to include all peaks. Note: The table is expandable. Use the structure below for the letter assignments in your table. Splitting Integration Assignment Peak (ppm) Other Notes -7.95 -7.92 0627 -787 785 7.30 751...
7. What kind of carbons correspond to these chemical shifts? 8. Based on this analysis, the unknown might contain the f...
7. What kind of carbons correspond to these chemical
shifts?
8. Based on this analysis, the unknown might contain the
following substructure:
UN (43 MIL.) 10.02s, 1H), 7.716.J-2 Hz. ) 2.0 11.5 11.0 10.5 10.0 9.5 9.0 8.5 8.0 7.5 7.0 6.5 6.0 4.0 3.5 3.0 2.5 20 15 100.5 0.0 -0.5 -1.0 -1.5 -2. 5.5 5.0 4.5 fl (ppm)
5. Based on this analysis, the compound might be or contain the following substructure: 6. How...
5. Based on this analysis, the compound might be or contain
the following substructure:
6. How many different types of carbons appear to be present?
What are the chemical shifts for these carbons?
UN (43 MIL.) 10.02s, 1H), 7.716.J-2 Hz. ) 2.0 11.5 11.0 10.5 10.0 9.5 9.0 8.5 8.0 7.5 7.0 6.5 6.0 4.0 3.5 3.0 2.5 20 15 100.5 0.0 -0.5 -1.0 -1.5 -2. 5.5 5.0 4.5 fl (ppm)
3. Based on the integration of the peaks, what is the relative number of protons which...
3. Based on the integration of the peaks, what is the relative
number of protons which make up each signal?
4. Identify any common splitting patterns. (ie. Isopropyl,
ethyl, etc)
UN (43 MIL.) 10.02s, 1H), 7.716.J-2 Hz. ) 2.0 11.5 11.0 10.5 10.0 9.5 9.0 8.5 8.0 7.5 7.0 6.5 6.0 4.0 3.5 3.0 2.5 20 15 100.5 0.0 -0.5 -1.0 -1.5 -2. 5.5 5.0 4.5 fl (ppm)
TABLE 1 Future Value of $1 FV = $1(1+i)" 20.0% 1.20000 1.44000 ndi 1.0% 1 1.01000 2 1.02010 3 1.03030 4 1.04060 5 1.05101 1.5% 2.0% 2.5% 1.01500 1.02000 1.02500 1.03022 1.04040 1.05063 1.04568 1.06121 1.07689 1.06136 1.08243 1.10381 1.07728 1.10408 1.13141 3.0% 1.03000 1.06090 1.09273 1.12551 1.15927 3.5% 4.0% 4.5% 5.0% 5.5% 1.03500 1.04000 1.04500 1.05000 1.05500 1.07123 1.08160 1.09203 1.10250 1.11303 1.10872 1.12486 1.14117 1.15763 1.17424 1.14752 1.16986 1.19252 1.21551 1.23882 1.18769 1.21665 1.24618 1.27628 1.30696 6.0% 7.0%...
TABLE 1 Future Value of $1 FV = $1(1+i)" 20.0% 1.20000 1.44000 ndi 1.0% 1 1.01000 2 1.02010 3 1.03030 4 1.04060 5 1.05101 1.5% 2.0% 2.5% 1.01500 1.02000 1.02500 1.03022 1.04040 1.05063 1.04568 1.06121 1.07689 1.06136 1.08243 1.10381 1.07728 1.10408 1.13141 3.0% 1.03000 1.06090 1.09273 1.12551 1.15927 3.5% 4.0% 4.5% 5.0% 5.5% 1.03500 1.04000 1.04500 1.05000 1.05500 1.07123 1.08160 1.09203 1.10250 1.11303 1.10872 1.12486 1.14117 1.15763 1.17424 1.14752 1.16986 1.19252 1.21551 1.23882 1.18769 1.21665 1.24618 1.27628 1.30696 6.0% 7.0%...
TABLE 1 Future Value of $1 FV = $1(1+i)" 20.0% 1.20000 1.44000 ndi 1.0% 1 1.01000 2 1.02010 3 1.03030 4 1.04060 5 1.05101 1.5% 2.0% 2.5% 1.01500 1.02000 1.02500 1.03022 1.04040 1.05063 1.04568 1.06121 1.07689 1.06136 1.08243 1.10381 1.07728 1.10408 1.13141 3.0% 1.03000 1.06090 1.09273 1.12551 1.15927 3.5% 4.0% 4.5% 5.0% 5.5% 1.03500 1.04000 1.04500 1.05000 1.05500 1.07123 1.08160 1.09203 1.10250 1.11303 1.10872 1.12486 1.14117 1.15763 1.17424 1.14752 1.16986 1.19252 1.21551 1.23882 1.18769 1.21665 1.24618 1.27628 1.30696 6.0% 7.0%...
A variety of spectra for an organic compound with molecular
formula C10H16O are presented below. The
experimental accurate mass using (+) APCI source is 153.1280 u. The
1H, 13C, COSY, HSQC and HMBC NMR spectra are given in the following
slides. Propose a structure for this unknown and answer or address
the following questions or requirements:
d. If there are still any questionable assignments, propose
additional NMR experiments which would solve those questions and
briefly explain specifically what correlations you...
A variety of spectra for an organic compound with molecular
formula C10H16O are presented below. The
experimental accurate mass using (+) APCI source is 153.1280 u. The
1H, 13C, COSY, HSQC and HMBC NMR spectra are given in the following
slides. Propose a structure for this unknown and answer or address
the following questions or requirements:
a. Using the most abundant isotopes of C, H and O, what are the
errors in ppm and milli-Daltons for the experimental accurate
mass?...
analyze this NMR & IR
S23 CDC13 QE-300 240 UN (43 MIL.) 10.02s, 1H), 7.716.J-2 Hz. ) 2.0 11.5 11.0 10.5 10.0 9.5 9.0 8.5 8.0 7.5 7.0 6.5 6.0 4.0 3.5 3.0 2.5 20 15 100.5 0.0 -0.5 -1.0 -1.5 -2. 5.5 5.0 4.5 fl (ppm)
Fill out the tables below of the starting material and pure
product by using the given NMR spectrums. Identify if the pure
isomer of methyl nitrobenzoate as ortho, meta, or para.
Complete the table below using your proton NMR spectrum of your starting material. Be sure to include all peaks. Note: The table is expandable. Use the structure below for the letter assignments in your table. Splitting Integration Assignment Peak (ppm) Other Notes -7.95 -7.92 0627 -787 785 7.30 751...
7. What kind of carbons correspond to these chemical
shifts?
8. Based on this analysis, the unknown might contain the
following substructure:
UN (43 MIL.) 10.02s, 1H), 7.716.J-2 Hz. ) 2.0 11.5 11.0 10.5 10.0 9.5 9.0 8.5 8.0 7.5 7.0 6.5 6.0 4.0 3.5 3.0 2.5 20 15 100.5 0.0 -0.5 -1.0 -1.5 -2. 5.5 5.0 4.5 fl (ppm)
5. Based on this analysis, the compound might be or contain
the following substructure:
6. How many different types of carbons appear to be present?
What are the chemical shifts for these carbons?
UN (43 MIL.) 10.02s, 1H), 7.716.J-2 Hz. ) 2.0 11.5 11.0 10.5 10.0 9.5 9.0 8.5 8.0 7.5 7.0 6.5 6.0 4.0 3.5 3.0 2.5 20 15 100.5 0.0 -0.5 -1.0 -1.5 -2. 5.5 5.0 4.5 fl (ppm)
3. Based on the integration of the peaks, what is the relative
number of protons which make up each signal?
4. Identify any common splitting patterns. (ie. Isopropyl,
ethyl, etc)
UN (43 MIL.) 10.02s, 1H), 7.716.J-2 Hz. ) 2.0 11.5 11.0 10.5 10.0 9.5 9.0 8.5 8.0 7.5 7.0 6.5 6.0 4.0 3.5 3.0 2.5 20 15 100.5 0.0 -0.5 -1.0 -1.5 -2. 5.5 5.0 4.5 fl (ppm)
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