Homework Answers
Interest expense to be recognized in 2021 income statement
= 216,024,975 * 8% * (3 months/12 months)
= 17,281,998 * 3/12
= 4,320,500
Option B
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Auerbach Inc. issued 6% bonds on October 1, 2021. The bonds have a maturity date of...
Auerbach Inc. Issued 6% bonds on October 1, 2021. The bonds have a maturity date of...
Auerbach Inc. Issued 6% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $350 million. The bonds pay Interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 8% Assuming that Auerbach issued the bonds for $302.434,965. what interest expense would it recognize in its 2021 income statement? (Do not round intermediate calculations. Round your final answer to nearest...
Auerbach Inc. issued 10% bonds on October 1, 2021. The bonds have a maturity date of...
Auerbach Inc. issued 10% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $450 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 12% Assuming that Auerbach issued the bonds for $398,383,200, what interest expense would it recognize in its 2021 income statement? (Do not round intermediate calculations. Round your final answer to nearest...
Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of...
Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $350 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 6%. How much cash interest does Auerbach pay on March 31, 2022? (Round your answer to 2 decimal places.) Multiple Choice 0 $10.50 million. 0 $7.00 million. 0 $21.00 million. 0...
25- Auerbach Inc. issued 5% bonds on October 1, 2021. The bonds have a maturity date...
25- Auerbach Inc. issued 5% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $375 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 7%. How much cash interest does Auerbach pay on March 31, 2022? (Round your answer to 2 decimal places.) Multiple Choice $18.75 million. $26.25 million. $9.38 million. $13.13 million.
26- Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date...
26- Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $325 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 6%. How much cash interest does Auerbach pay on March 31, 2022? (Round your answer to 2 decimal places.) Multiple Choice $19.50 million. $6.50 million. $13.00 million. $9.75 million.
25 Auerbach Inc. issued 8% bonds on October 1, 2021. The bonds have a maturity date...
25 Auerbach Inc. issued 8% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $325 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 10%. How much cash interest does Auerbach pay on March 31, 2022? (Round your answer to 2 decimal places.) Multiple Choice $26.00 million. $13.00 million. $32.50 million. $16.25 million.
29- Auerbach Inc. issued 6% bonds on October 1, 2021. The bonds have a maturity date...
29- Auerbach Inc. issued 6% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $440 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 8%. Assuming that Auerbach issued the bonds for $380,204,000, what would the company report for its net bond liability balance after its first interest payment on March 31, 2022? Multiple...
Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of...
Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $300 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 6%. Assuming that Auerbach issued the bonds for $255,366,000, what would the company report for its net bond liability balance at December 31, 2021, rounded up to the nearest thousand? (Do...
Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of...
Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $450 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 6%. Assuming that Auerbach issued the bonds for $383,053,000, what would the company report for its net bond liability balance after its first interest payment on March 31, 2022? Multiple Choice...
28- Auerbach Inc. issued 10% bonds on October 1, 2021. The bonds have a maturity date...
28- Auerbach Inc. issued 10% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $300 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 12%. Assuming that Auerbach issued the bonds for $265,590,000, what would the company report for its net bond liability balance at December 31, 2021, rounded up to the nearest thousand?...
Auerbach Inc. Issued 6% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $350 million. The bonds pay Interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 8% Assuming that Auerbach issued the bonds for $302.434,965. what interest expense would it recognize in its 2021 income statement? (Do not round intermediate calculations. Round your final answer to nearest...
Auerbach Inc. issued 10% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $450 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 12% Assuming that Auerbach issued the bonds for $398,383,200, what interest expense would it recognize in its 2021 income statement? (Do not round intermediate calculations. Round your final answer to nearest...
Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $350 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 6%. How much cash interest does Auerbach pay on March 31, 2022? (Round your answer to 2 decimal places.) Multiple Choice 0 $10.50 million. 0 $7.00 million. 0 $21.00 million. 0...
Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $450 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 6%. Assuming that Auerbach issued the bonds for $383,053,000, what would the company report for its net bond liability balance after its first interest payment on March 31, 2022? Multiple Choice...
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