Homework Answers
Ans. $21.416 or $21.42 approx
Always assume that interest rates is effective rate payable per
annum if not mentioned in the question.
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Question 13 (1 point) Compute the amount of interest for $500.00 at 8.75% from June 30...
Question 19 (1 point) How much will a registered retirement savings deposit of $13 500.00 be...
Question 19 (1 point) How much will a registered retirement savings deposit of $13 500.00 be worth in 11 years at 8.44% compounded quarterly? How much of the amount is interest? A
help please The Gorman Group issued $910,000 of 13% bonds on June 30, 2018, for $978.459....
help please
The Gorman Group issued $910,000 of 13% bonds on June 30, 2018, for $978.459. The bonds were dated on June 30 and mature on June 30, 2038 (20 years). The market yield for bonds of similar risk and maturity is 12%. Interest is paid semiannually on December 31 and June 30. points Skipped Required: Complete the below table to record the company's journal entry. 1. to 3. Prepare the journal entry to record their issuance by The Gorman...
The Gorman Group issued $940,000 of 13% bonds on June 30, 2021, for $1,010,716. The bonds...
The Gorman Group issued $940,000 of 13% bonds on June 30, 2021, for $1,010,716. The bonds were dated on June 30 and mature on June 30, 2041 (20 years). The market yield for bonds of similar risk and maturity is 12%. Interest is paid semiannually on December 31 and June 30. Required: Complete the below table to record the company's journal entry. 1. to 3. Prepare the journal entries to record their issuance by The Gorman Group on June 30,...
On June 30, 2017, Nash Company issued $3,300,000 face value of 13% 20 year bonds at...
On June 30, 2017, Nash Company issued $3,300,000 face value of 13% 20 year bonds at $3,548,237. a yield of 12%. Nash uses the effective interest method to amortize bond premium or discount. The bonds por serial interest on ne 30 and December 31 select "No Entry for the accounts and enter for the amount Credit c a r indented Prepare the journal entries to record the following transactions. Round answer to decimal places a 3548. Innbys when amount is...
On June 30, 2021, Chu Industries issued 9-months notes in the amount of $740000. On June...
On June 30, 2021, Chu Industries issued 9-months notes
in the amount of $740000.
On June 30, 2021. Chu Industries issued 9-month notes in the amount of $740,000. Assume that interest is payable at maturity in the following three independent cases Required: Determine the amount of interest expense that should be accrued in a year-end adjusting entry under each assumption (Round your final answers to the nearest whole dollar amount.) Interest Rate Fiscal Year-End Interest Expense 10% 799 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...
Question 13 8.75 pts Which is a factor in determining the amount of radiation exposure a...
Question 13 8.75 pts Which is a factor in determining the amount of radiation exposure a person takes from a source? General health of the person lonization state of the source Distance from the source Temperature of the source Question 14 8.75 pts An unstable Uranium atom is hit with a neutron which causes it to break in 2 smaller atoms. What is this process called? Radioactive Decay Thermonuclear Fusion Nuclear Magnetic Resonance Fission
On June 30, 2021, Singleton Computers issued 7% stated rate bonds with a face amount of...
On June 30, 2021, Singleton Computers issued 7% stated rate bonds with a face amount of $200 million. The bonds mature on June 30, 2036 (15 years). The market rate of interest for similar bond issues was 4% (2.0% semiannual rate). Interest is paid semiannually (3.5%) on June 30 and December 31, beginning on December 31, 2021. (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 Gorman Group issued $900,000 of 13% bonds on June 30, 2021, for $967,707. The bonds...
The Gorman Group issued $900,000 of 13% bonds on June 30, 2021, for $967,707. The bonds were dated on June 30 and mature on June 30, 2041 (20 years). The market yield for bonds of similar risk and maturity is 12%. Interest is paid semiannually on December 31 and June 30. Required: Complete the below table to record the company's journal entry. 1. to 3. Prepare the journal entries to record their issuance by The Gorman Group on June 30,...
Question 4 On June 30, 2016, the market interest rate is 7%. Starship Enterprises issues $500,000...
Question 4 On June 30, 2016, the market interest rate is 7%. Starship Enterprises issues $500,000 of 8%, 20-year bonds at 110.625. The bonds pay interest on June 30 and December 31. Starship amortizes bonds by the effective-interest method. 1. Record issuance of the bonds on June 30, 2016, the payment of interest at December 31, 2016, and the semi-annual interest payment on June 30, 2017.
Question 19 (1 point) How much will a registered retirement savings deposit of $13 500.00 be worth in 11 years at 8.44% compounded quarterly? How much of the amount is interest? A
help please
The Gorman Group issued $910,000 of 13% bonds on June 30, 2018, for $978.459. The bonds were dated on June 30 and mature on June 30, 2038 (20 years). The market yield for bonds of similar risk and maturity is 12%. Interest is paid semiannually on December 31 and June 30. points Skipped Required: Complete the below table to record the company's journal entry. 1. to 3. Prepare the journal entry to record their issuance by The Gorman...
The Gorman Group issued $940,000 of 13% bonds on June 30, 2021, for $1,010,716. The bonds were dated on June 30 and mature on June 30, 2041 (20 years). The market yield for bonds of similar risk and maturity is 12%. Interest is paid semiannually on December 31 and June 30. Required: Complete the below table to record the company's journal entry. 1. to 3. Prepare the journal entries to record their issuance by The Gorman Group on June 30,...
On June 30, 2017, Nash Company issued $3,300,000 face value of 13% 20 year bonds at $3,548,237. a yield of 12%. Nash uses the effective interest method to amortize bond premium or discount. The bonds por serial interest on ne 30 and December 31 select "No Entry for the accounts and enter for the amount Credit c a r indented Prepare the journal entries to record the following transactions. Round answer to decimal places a 3548. Innbys when amount is...
On June 30, 2021, Chu Industries issued 9-months notes
in the amount of $740000.
On June 30, 2021. Chu Industries issued 9-month notes in the amount of $740,000. Assume that interest is payable at maturity in the following three independent cases Required: Determine the amount of interest expense that should be accrued in a year-end adjusting entry under each assumption (Round your final answers to the nearest whole dollar amount.) Interest Rate Fiscal Year-End Interest Expense 10% 799 December 31...
Question 13 8.75 pts Which is a factor in determining the amount of radiation exposure a person takes from a source? General health of the person lonization state of the source Distance from the source Temperature of the source Question 14 8.75 pts An unstable Uranium atom is hit with a neutron which causes it to break in 2 smaller atoms. What is this process called? Radioactive Decay Thermonuclear Fusion Nuclear Magnetic Resonance Fission
On June 30, 2021, Singleton Computers issued 7% stated rate bonds with a face amount of $200 million. The bonds mature on June 30, 2036 (15 years). The market rate of interest for similar bond issues was 4% (2.0% semiannual rate). Interest is paid semiannually (3.5%) on June 30 and December 31, beginning on December 31, 2021. (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 Gorman Group issued $900,000 of 13% bonds on June 30, 2021, for $967,707. The bonds were dated on June 30 and mature on June 30, 2041 (20 years). The market yield for bonds of similar risk and maturity is 12%. Interest is paid semiannually on December 31 and June 30. Required: Complete the below table to record the company's journal entry. 1. to 3. Prepare the journal entries to record their issuance by The Gorman Group on June 30,...
Question 4 On June 30, 2016, the market interest rate is 7%. Starship Enterprises issues $500,000 of 8%, 20-year bonds at 110.625. The bonds pay interest on June 30 and December 31. Starship amortizes bonds by the effective-interest method. 1. Record issuance of the bonds on June 30, 2016, the payment of interest at December 31, 2016, and the semi-annual interest payment on June 30, 2017.
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