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On January 1, 2021, an investor paid $304,000 for bonds with a face amount of $355.000....
On January 1, 2021, an investor paid $291,000 for bonds with a face amount of $300,000....
On January 1, 2021, an investor paid $291,000 for bonds with a face amount of $300,000. The contract rate of interest is 8% while the current market rate of interest is 10%. Using the effective interest method, how much interest income is recognized by the investor in 2022 (assume annual interest payments and amortization)? Multiple Choice $23,280. $25,140. $29,100. $29,610.
Help Save & Submit On January 1, 2021, an investor paid $293.000 for bonds with a...
Help Save & Submit On January 1, 2021, an investor paid $293.000 for bonds with a face amount of $313,000. The contract rate of interest is 8% while the current market rate of interest is 11%. Using the effective interest method, how much interest income is recognized by the investor in 2022 (assume annual interest payments and amortization? (Round your answer to the nearest dollar amount.) Saved Help Multiple Choice C) 332,230. o $33,021. o $23,161. o
On January 1, 2018, an investor paid $294,000 for bonds with a face amount of $314,000....
On January 1, 2018, an investor paid $294,000 for bonds with a face amount of $314,000. The contract rate of interest is 8% while the current market rate of interest is 11%. Using the effective interest method, how much interest income is recognized by the investor in 2019 (assume annual interest payments and amortization)? (Round your answer to the nearest dollar amount.)
On January 1, 2021, an investor paid $298,000 for bonds with a foce amount of $318,000....
On January 1, 2021, an investor paid $298,000 for bonds with a foce amount of $318,000. The contract rate of interest is 11 while the current market rate of interest is 14 Using the effective interest method, how much interest income is recognized by the investor in 2022 assume annual interest payments and amortization)? (Round your answer to the nearest dollar amount.) o o s2лво o 53A480 o S2664 < Prev 30 of 34 8 Next > e to search...
On January 1, 2021, Instaform, Inc., issued 12% bonds with a face amount of $60 million,...
On January 1, 2021, Instaform, Inc., issued 12% bonds with a face amount of $60 million, dated January 1. The bonds mature in 2040 (20 years). The market yield for bonds of similar risk and maturity is 14%. Interest is paid semiannually. (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-a. Determine the price of the bonds at January 1, 2021....
22. On January 1, 2021, Anne Teak Furniture issued $100,000 of 10% bonds, dated January 1....
22. On January 1, 2021, Anne Teak Furniture issued $100,000 of 10% bonds, dated January 1. Interest is payable semiannually on June 30 and December 31. The bonds mature in 13 years. The annual market rate for bonds of Similar risk and maturity is 12%. What was the issue price of the bonds? (EV of S1, PV of S1, EVA of $1. PVA of $1. EVAD of $1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.) Multiple...
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
On January 1, 2021, JUNE Enterprises issued 10% bonds dated January 1, 2021, with a face...
On January 1, 2021, JUNE Enterprises issued 10% bonds dated January 1, 2021, with a face amount of $19.0 million. The bonds mature in 2030 (10 years). For bonds of similar risk and maturity, the market yield is 8%. Interest is paid semiannually on June 30 and December 31. Required: 1. Determine the price of the bonds at January 1, 2021. 2. Prepare the journal entry to record the bond issuance by Mania on January 1, 2021. 3. Prepare the...
On January 1, 2021, Bradley Recreational Products issued $120,000, 9%, four-year bonds. Interest is paid semiannually...
On January 1, 2021, Bradley Recreational Products issued $120,000, 9%, four-year bonds. Interest is paid semiannually on June 30 and December 31. The bonds were issued at $116,122 to yield an annual return of 10%. (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. Prepare an amortization schedule that determines interest at the effective interest rate. 2. Prepare an amortization schedule...
On January 1, 2018, Solda Co. issued its 10% bonds in the face amount of 8,000,000,...
On January 1, 2018, Solda Co. issued its 10% bonds in the face amount of 8,000,000, which mature on January 1, 2028. The bonds were issued at a time when the market rate was 8%. Using the effective-interest method of annual amortization, what is the bond premium? A) 9,073,613 B) 1,073,613 C) 972,000 D) 812,000
Help Save & Submit On January 1, 2021, an investor paid $293.000 for bonds with a face amount of $313,000. The contract rate of interest is 8% while the current market rate of interest is 11%. Using the effective interest method, how much interest income is recognized by the investor in 2022 (assume annual interest payments and amortization? (Round your answer to the nearest dollar amount.) Saved Help Multiple Choice C) 332,230. o $33,021. o $23,161. o
On January 1, 2021, an investor paid $298,000 for bonds with a foce amount of $318,000. The contract rate of interest is 11 while the current market rate of interest is 14 Using the effective interest method, how much interest income is recognized by the investor in 2022 assume annual interest payments and amortization)? (Round your answer to the nearest dollar amount.) o o s2лво o 53A480 o S2664 < Prev 30 of 34 8 Next > e to search...
On January 1, 2021, Instaform, Inc., issued 12% bonds with a face amount of $60 million, dated January 1. The bonds mature in 2040 (20 years). The market yield for bonds of similar risk and maturity is 14%. Interest is paid semiannually. (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-a. Determine the price of the bonds at January 1, 2021....
22. On January 1, 2021, Anne Teak Furniture issued $100,000 of 10% bonds, dated January 1. Interest is payable semiannually on June 30 and December 31. The bonds mature in 13 years. The annual market rate for bonds of Similar risk and maturity is 12%. What was the issue price of the bonds? (EV of S1, PV of S1, EVA of $1. PVA of $1. EVAD of $1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.) Multiple...
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
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