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Haste Enterprises issues 10-year, $1,000,000 bonds that pay semiannual interest of $40,000. If the effective annual...
Haste Enterprises issues 15-year, $1,000,000 bonds that pay semiannual interest of $50,000. If the effective annual...
Haste Enterprises issues 15-year, $1,000,000 bonds that pay semiannual interest of $50,000. If the effective annual rate of interest is 12%, what is the issue price of the bonds? Some relevant and irrelevant present value factors PV of ordinary annuity of $1: n= 15; -12% is 6.81086 **PV of $t: n-15; / 12% is 0.18270 PV of ordinary annuity of $t: n= 30; /- 6.0% is 13.76483 **PV of $t: n=30:/= 6.0% is 0.17411 Multiple Choice $862,352 $1688.242 $929,852 $1.000.000
Question 16 (1 point) On January 1, 2021, Anne Teak Furniture issued $100,000 of 8% bonds,...
Question 16 (1 point) On January 1, 2021, Anne Teak Furniture issued $100,000 of 8% bonds, dated January 1. Interest is payable semiannually on June 30 and December 31. The bonds mature in 10 years. The annual market rate for bonds of similar risk and maturity is 10%. What was the issue price of the bonds? (Use appropriate factor(s) from the values provided.) PV of annuity of $1: (i=10%, n=10)=6.14457 (i=5%, n=20)=12.46221 (i=8%, n=10)=6.71008 (i=4%,n=20)=13.59033 PV of $1: (i=10%, n=10)=0.38554...
Sharmer Company issues 5%, 5-year bonds with a par value of $1,000,000 and semiannual interest payments....
Sharmer Company issues 5%, 5-year bonds with a par value of $1,000,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 6%. What is the bond's issue (selling) price, assuming the following factors: n= i= 5 5% Present Value of an Annuity 4.3295 8.7521 4.2124 8.5302 Present value of $1 0.7835 0.7812 0.7473 0.7441 5 10 6% 6% 3% O $1,213,255 $786,745 $1,250,000 O $957,355 0 $1,000,000
Accounting for Bonds On May 1, 2020, Merrill Corp issued $1 million ten-year bonds. The bonds...
Accounting for Bonds On May 1, 2020, Merrill Corp issued $1 million ten-year bonds. The bonds pay 10% interest semi-annually on October 31 and April 30. The bonds were issued to yield 12%. Merrill Corp has a fiscal year that ends December 31 each year. Fields Corporation uses the effective-interest method to calculate its interest expense each period. Required: Compute the issue price of the bonds and the journal entry at issuance. Prepare the bond amortization table through April 30,...
The company issues 6% 10-year bonds with a total face amount of $1,000,000 with interest paid...
The company issues 6% 10-year bonds with a total face amount of $1,000,000 with interest paid semi-annually. The market rate of interest is 6.1%. n % PV PVA 10 | 6.00% - 0.55839 7.3601 10 | 6.10% 0.553157 .3253 20 3.00% 0.55368 14.8775 20 3.05% 0.54833 14.8089 ROUND ANSWERS TO NEAREST DOLLAR 1. What is the issue price of the bond? $. 2. Record the issuance of the bond: 3. What is the interest expense for the first interest payment?...
Cainas Cookies issues a $1,000,000, 5 year, 12% bond when the market rate of interest is...
Cainas Cookies issues a $1,000,000, 5 year, 12% bond when the market rate of interest is 8%. Interest is paid semi-annually. To solve for the issue price of the bond, you need to solve for: $1,000,000 (PV ss n = 5 1 = 8%) + $60,000 (PV ann n= 10 1 = 4%) $1,000,000 (PV ss n = 101 = 6%) + $40,000 (PV ann n= 101=6%) $1,000,000 (PV ss n = 10 1 = 4%) + $120,000 (PV ann...
Scottie Adams Bird Supplies issued 10% bonds, dated January 1, with a face amount of $150,000...
Scottie Adams Bird Supplies issued 10% bonds, dated January 1, with a face amount of $150,000 on January 1, 2021. The bonds mature in 2031 (10 years). For bonds of similar risk and maturity the market yield is 8%. Interest is paid semiannually on June 30 and December 31. What is the price of the bonds at January 1, 2021? Some relevant and irrelevant present value factors: * PV of annuity due of $1: n = 20; i = 4%...
The company issues 6% 10-year bonds with a total face amount of $1,000,000 with interest paid...
The company issues 6% 10-year bonds with a total face amount of $1,000,000 with interest paid semi-annually. The market rate of interest is 6.1%. n% 106.00%0.55839 7.3601 106.10%0.55315 7.3253 20 3.00% 0.55368 14.8775 203.05%0.54833 14.8089 PV PVA ROUND ANSWERS TO NEAREST DOLLAR What is the issue price of the bond? $ .Record the issuance of the bond: 3. What is the interest expense for the first interest payment? $_ What is the bond liability after the first interest payment? $...
Ultimate Butter Popcorn issues 5%, 15-year bonds with a face amount of $40,000. The market interest...
Ultimate Butter Popcorn issues 5%, 15-year bonds with a face amount of $40,000. The market interest rate for bonds of similar risk and maturity is 5%. Interest is paid semiannually. At what price will the bonds issue? (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Round"Market interest rate" to 1 decimal place.) Bond Characteristics Face amount Amount | $ 40,000 $ 2,000...
4 ISSUANCE, INTEREST AMORTIZATION, RETIREMENT AND CONVERSION OF BONDS on January 1, 2017, Maytair...
4 ISSUANCE, INTEREST AMORTIZATION, RETIREMENT AND CONVERSION OF BONDS on January 1, 2017, Maytair Co. issued ten-year convertible bonds with a face value of $300,000 and a stated interest rate of 12%, payable semiannually on June 30 and December 31. The bonds were sold to yield 10. Table values are Present value of 1 for 10 periods at 10 Present value of 1 for 10 periods at 12% Present value of 1 for 20 periods at 5 Present value of...
Haste Enterprises issues 15-year, $1,000,000 bonds that pay semiannual interest of $50,000. If the effective annual rate of interest is 12%, what is the issue price of the bonds? Some relevant and irrelevant present value factors PV of ordinary annuity of $1: n= 15; -12% is 6.81086 **PV of $t: n-15; / 12% is 0.18270 PV of ordinary annuity of $t: n= 30; /- 6.0% is 13.76483 **PV of $t: n=30:/= 6.0% is 0.17411 Multiple Choice $862,352 $1688.242 $929,852 $1.000.000
Question 16 (1 point) On January 1, 2021, Anne Teak Furniture issued $100,000 of 8% bonds, dated January 1. Interest is payable semiannually on June 30 and December 31. The bonds mature in 10 years. The annual market rate for bonds of similar risk and maturity is 10%. What was the issue price of the bonds? (Use appropriate factor(s) from the values provided.) PV of annuity of $1: (i=10%, n=10)=6.14457 (i=5%, n=20)=12.46221 (i=8%, n=10)=6.71008 (i=4%,n=20)=13.59033 PV of $1: (i=10%, n=10)=0.38554...
Sharmer Company issues 5%, 5-year bonds with a par value of $1,000,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 6%. What is the bond's issue (selling) price, assuming the following factors: n= i= 5 5% Present Value of an Annuity 4.3295 8.7521 4.2124 8.5302 Present value of $1 0.7835 0.7812 0.7473 0.7441 5 10 6% 6% 3% O $1,213,255 $786,745 $1,250,000 O $957,355 0 $1,000,000
The company issues 6% 10-year bonds with a total face amount of $1,000,000 with interest paid semi-annually. The market rate of interest is 6.1%. n % PV PVA 10 | 6.00% - 0.55839 7.3601 10 | 6.10% 0.553157 .3253 20 3.00% 0.55368 14.8775 20 3.05% 0.54833 14.8089 ROUND ANSWERS TO NEAREST DOLLAR 1. What is the issue price of the bond? $. 2. Record the issuance of the bond: 3. What is the interest expense for the first interest payment?...
Cainas Cookies issues a $1,000,000, 5 year, 12% bond when the market rate of interest is 8%. Interest is paid semi-annually. To solve for the issue price of the bond, you need to solve for: $1,000,000 (PV ss n = 5 1 = 8%) + $60,000 (PV ann n= 10 1 = 4%) $1,000,000 (PV ss n = 101 = 6%) + $40,000 (PV ann n= 101=6%) $1,000,000 (PV ss n = 10 1 = 4%) + $120,000 (PV ann...
The company issues 6% 10-year bonds with a total face amount of $1,000,000 with interest paid semi-annually. The market rate of interest is 6.1%. n% 106.00%0.55839 7.3601 106.10%0.55315 7.3253 20 3.00% 0.55368 14.8775 203.05%0.54833 14.8089 PV PVA ROUND ANSWERS TO NEAREST DOLLAR What is the issue price of the bond? $ .Record the issuance of the bond: 3. What is the interest expense for the first interest payment? $_ What is the bond liability after the first interest payment? $...
Ultimate Butter Popcorn issues 5%, 15-year bonds with a face amount of $40,000. The market interest rate for bonds of similar risk and maturity is 5%. Interest is paid semiannually. At what price will the bonds issue? (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Round"Market interest rate" to 1 decimal place.) Bond Characteristics Face amount Amount | $ 40,000 $ 2,000...
4 ISSUANCE, INTEREST AMORTIZATION, RETIREMENT AND CONVERSION OF BONDS on January 1, 2017, Maytair Co. issued ten-year convertible bonds with a face value of $300,000 and a stated interest rate of 12%, payable semiannually on June 30 and December 31. The bonds were sold to yield 10. Table values are Present value of 1 for 10 periods at 10 Present value of 1 for 10 periods at 12% Present value of 1 for 20 periods at 5 Present value of...
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