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InterTech Corporation needed financing to build a new manufacturing plant. On June 30 of this year,...
15 expense ad intertech record this year for the December payment 17.00 a. None of these...
15 expense ad intertech record this year for the December payment 17.00 a. None of these are correct. 576.63 357.60 OP Aries InterTech Corporation needed financing to build a new manufacturing plant. On June 30 of this year, InterTech issued $2,175,000 of 8-year bonds with a 6% coupon rate (payments due on December 31st and June 30th). The effective interest rate was 8%. What amount in interest expense did InterTech record this year for the December 31 payment? Select one:...
On January 1, 2019, Conjecture Inc. issued 5-year bonds with a face value of $100,000 and...
On January 1, 2019, Conjecture Inc. issued 5-year bonds with a face value of $100,000 and an annual stated interest rate of 8%. Interest payments are made semi-annually on June 30th and December 31st. The bonds were issued for $108,530, when the market rate of interest was 6%. How much interest expense will Conjecture record for the six months July 1 - December 31, 2019?
On July 1, Year 1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $7,700,000 of 8-year,...
On July 1, Year 1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $7,700,000 of 8-year, 9% bonds at a market (effective interest rate of 10%, receiving cash of $7,282,746. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 2. Journalize the entries to record the following: For a compound transaction, if an amount box does not require an entry, leave it blank. Round your...
On July 1, Year 1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $7,400,000 of 9-year,...
On July 1, Year 1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $7,400,000 of 9-year, 8% bonds at a market (effective) interest rate of 10%, receiving cash of $6,534,971. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, Year 1. For a compound transaction,...
On July 1, 20Y1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $70,000,000 of 20-year, 11%...
On July 1, 20Y1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $70,000,000 of 20-year, 11% bonds at a market (effective) interest rate of 14%, receiving cash of $56,004,200. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: For all journal entries, if an amount box does not require an entry, leave it blank. 1. Journalize the entry to record the amount of cash proceeds...
Anderson/ Thurow Company issued $1,000,000 of five year bonds on Jan 1, 20X1. The bonds carried...
Anderson/ Thurow Company issued $1,000,000 of five year bonds on Jan 1, 20X1. The bonds carried a face or coupon rate of 12% with interest to be paid semi-annually on June 30th and Dec 31st. At the issuance date, the market interest rate for such bonds was 10%. A. Calculate the issuance price for the bonds and show the journal entry to record their issuance. B. Provide an amortization table for the first two periods. C. Show the journal entries...
The Wildcat Company issued 8% bonds(stated rate), dated January 1, with a face amount of $20...
The Wildcat Company issued 8% bonds(stated rate), dated January 1, with a face amount of $20 million. The bonds mature on December 31, year 10. For bonds of similar risk at maturity, the market yield is 10%. Interest is paid semiannually on June 30 and December 31. 1. Calculate the Bond Price and Enter in the Yellow Highlighted Cell: Coupon Payment PV Face Value PV Total Bond Price: 2. Record the journal entry to record the issuance of the bond...
Please answer parts A through D. On January 1st, 2016, Whale Boats Co. issued a 6...
Please answer parts A through D.
On January 1st, 2016, Whale Boats Co. issued a 6 year $680,000 bond with a 2% coupon rate paid quarterly on March 31st, June 30th, September 30th, and December 31st for $660,000. Whale Boats Co. records interest quarterly. How much cash does the firm receive on January 1st, 2016? Your Answer: Answer On January 1st, 2016, Whale Boats Co. issued a 8 year $600,000 bond with a 9% coupon rate paid quarterly on March...
On October 1, 2016 Macklin Corporation issued 10-year bonds with a face value of $50,000,000. Interest is...
On October 1, 2016 Macklin Corporation issued 10-year bonds with a face value of $50,000,000. Interest is paid annually on December 31. The company uses the effective interest method. Coupon Rate 6.5%. Market Rate 6%. Find the issue price. The entry to record the issuance of the bonds. Prepare the journal entry to record the first interest payment on December 31.
The Gillman Group issued $900,000 of 13% bonds on June 30 Year 1, for $967,707. The...
The Gillman Group issued $900,000 of 13% bonds on June 30 Year 1, for $967,707. The bonds were dated on June 30 and mature on June 30, Year 21 (20 years). The market rate for bonds of similar risk and maturity is 12%. Interest is payable semiannually on June 30 and December 31. Instructions: A. Prepare the journal entry to record the issuance of the bonds on June 30, Year 1. B. Prepare the journal entry to record interest expense...
15 expense ad intertech record this year for the December payment 17.00 a. None of these are correct. 576.63 357.60 OP Aries InterTech Corporation needed financing to build a new manufacturing plant. On June 30 of this year, InterTech issued $2,175,000 of 8-year bonds with a 6% coupon rate (payments due on December 31st and June 30th). The effective interest rate was 8%. What amount in interest expense did InterTech record this year for the December 31 payment? Select one:...
On January 1, 2019, Conjecture Inc. issued 5-year bonds with a face value of $100,000 and an annual stated interest rate of 8%. Interest payments are made semi-annually on June 30th and December 31st. The bonds were issued for $108,530, when the market rate of interest was 6%. How much interest expense will Conjecture record for the six months July 1 - December 31, 2019?
On July 1, Year 1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $7,700,000 of 8-year, 9% bonds at a market (effective interest rate of 10%, receiving cash of $7,282,746. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 2. Journalize the entries to record the following: For a compound transaction, if an amount box does not require an entry, leave it blank. Round your...
On July 1, Year 1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $7,400,000 of 9-year, 8% bonds at a market (effective) interest rate of 10%, receiving cash of $6,534,971. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, Year 1. For a compound transaction,...
The Wildcat Company issued 8% bonds(stated rate), dated January 1, with a face amount of $20 million. The bonds mature on December 31, year 10. For bonds of similar risk at maturity, the market yield is 10%. Interest is paid semiannually on June 30 and December 31. 1. Calculate the Bond Price and Enter in the Yellow Highlighted Cell: Coupon Payment PV Face Value PV Total Bond Price: 2. Record the journal entry to record the issuance of the bond...
Please answer parts A through D.
On January 1st, 2016, Whale Boats Co. issued a 6 year $680,000 bond with a 2% coupon rate paid quarterly on March 31st, June 30th, September 30th, and December 31st for $660,000. Whale Boats Co. records interest quarterly. How much cash does the firm receive on January 1st, 2016? Your Answer: Answer On January 1st, 2016, Whale Boats Co. issued a 8 year $600,000 bond with a 9% coupon rate paid quarterly on March...
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