Homework Answers
| Workings | ||||
| Par Value of the bonds = | $3,01,000.00 | |||
| Issue price of the bond= | $3,09,000.00 | |||
| Premium to be amortized | $8,000.00 | |||
| Coupon rate of interest = | 7.00% | |||
| Coupon Amount = | $21,070.00 | |||
| Coupon Amount Half yearly = | $10,535.00 | |||
| Interest amortized = | $8,000.00 | |||
| Period for Amortization = 10 Years X 2 = | 20.00 | Periods | ||
| Interest Amortzed per Half yearly = | $400.00 | |||
| Coupon Amount = | $10,535.00 | |||
| Less: Amortized Value | $400.00 | |||
| Total interest expesnes | $10,135.00 | |||
| DALTON COMPANY | ||||
| AMORTIZED SCHEDULE | ||||
| Period | Cash Payment (Credit) | Interest expenses | Premium on Bonds | Carrying Value |
| At Issue | $3,09,000.00 | 0 | 0 | $3,09,000.00 |
| 12/31/2016 | $10,535.00 | $ 10,135.00 | $ 400.00 | $3,08,600.00 |
| Answer = Option 3 = $ 308,600 | ||||
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