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DUE: Nov 15, 2019 1. How many interest payment periods are in an 8-year, 8% bond with an effective interest rate of...
If bonds are issued at 97, which of the following is not correct: A) A $1,000 bond sold for $970. B) The bonds sold at...
If bonds are issued at 97, which of the following is not correct: A) A $1,000 bond sold for $970. B) The bonds sold at a discount. C) A $2,000 bond sold for $1,940. D) The bond rate of interest is 9.7% of the market rate of interest
5. What is the interest rate if Fif = 1,000, PV 600, and t 50 periods?...
5. What is the interest rate if Fif = 1,000, PV 600, and t 50 periods? 6. What is the annual rate (APR) if compounding is monthly, and the interest rate is 4% 7. Let there be two compounding periods per year. Let the APR be 10%. What is the EAR'? 8. What is EAR if APR 6% and compounding is monthly? 9. Consider an annuity. What is the payment amount per month if PVA = 6%, and for five...
26. A company issues $15 8% on January 1, 2016. December 31. The proces Using straight-line amor $ $15,000,000, 7.8...
26. A company issues $15 8% on January 1, 2016. December 31. The proces Using straight-line amor $ $15,000,000, 7.8%, 20-year bond 2016. Interest is paid on June 30 and proceeds from the bonds are $14,703,108. e amortization, what is the carrying value of ne bonds on December 31, 2018? A) $14,752,672 B) $14,955,466 C) $14,725,374 D) $14,747,642 27. Feller Company issues $2 Company issues $20,000,000 of 10-year, 9% bonds on rch 1, 2017 at 97 plus accrued interest. The...
Hillside issues $2,000,000 of 6%, 15-year bonds dated January 1, 2019, that pay interest semiannually on...
Hillside issues $2,000,000 of 6%, 15-year bonds dated January 1,
2019, that pay interest semiannually on June 30 and December 31.
The bonds are issued at a price of $1,728,224.
Required:
1. Prepare the January 1 journal entry to record
the bonds’ issuance.
2(a) For each semiannual period, complete the
table below to calculate the cash payment.
2(b) For each semiannual period, complete the
table below to calculate the straight-line discount
amortization.
2(c) For each semiannual period, complete the
table...
Rowe Corporation authorized 50,000 of 8% (cash interest payable semiannually) 10-year bonds. The bonds were dated...
Rowe Corporation authorized 50,000 of 8% (cash interest payable semiannually) 10-year bonds. The bonds were dated January 1, 2020; interest dates are June 30 and December 31. Assume three different cases with respect to the sale of the bonds: Case A: Bonds sold on January 1, 2020, at par Case B: Bonds sold on January 1, 2020, at 98 Case C: Bonds sold on February 1, 2020, at 102 Complete the following schedule. CASE A CASE B CASE C Face...
Hillside issues $2,800,000 of 8%, 15-year bonds dated January 1, 2018, that pay interest semiannually on...
Hillside issues $2,800,000 of 8%, 15-year bonds dated January 1, 2018, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $3,427,190. Required: 1. Prepare the January 1, 2018, journal entry to record the bonds’ issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line premium amortization. 2(c) For each semiannual period, complete the...
Check my Hillside issues $1,300,000 of 7%, 15-year bonds dated January 1, 2019, that pay interest...
Check my Hillside issues $1,300,000 of 7%, 15-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31 The bonds are issued at a price of $1,123,346. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization. 21c) For each semiannual period, complete...
Practice Problems 1. You invest $8,000 in a savings account, the interest rate is 12% per...
Practice Problems 1. You invest $8,000 in a savings account, the interest rate is 12% per year and the length of time is 15 years. Compounding is monthly. What is the value of the savings account at the end of ten years? 2. What would be the answer if compounding is every six months? 3. How many periods does it take for money to double if the interest rate is 12% per period? 4. If the interest rate is 12%...
QS 10-15B Effective Interest: Bond premium computations LO P6 Garcia Company issues 10%, 15-year bonds with...
QS 10-15B Effective Interest: Bond premium computations LO P6 Garcia Company issues 10%, 15-year bonds with a par value of $220,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8%, which implies a selling price of 117 14. The effective interest method is used to allocate interest expense 1. Using the implied selling price of 117 14. what are the issuer's cash proceeds from Issuance of these bonds. Cash proceeds 2. What...
Effective Interest Amortization On January 1, 2018, Ranier, Inc., issued $300,000 of ten percent, 15‑year bonds...
Effective Interest Amortization On January 1, 2018, Ranier, Inc., issued $300,000 of ten percent, 15‑year bonds for $351,876, yielding an effective interest rate of 8 percent. Semiannual interest is payable on June 30 and December 31 each year. The firm uses the effective interest method to amortize the premium. Required a. Prepare an amortization schedule showing the necessary information for the first two interest periods. Round amounts to the nearest dollar. b. Prepare the journal entry for the bond issuance...
If bonds are issued at 97, which of the following is not correct: A) A $1,000 bond sold for $970. B) The bonds sold at a discount. C) A $2,000 bond sold for $1,940. D) The bond rate of interest is 9.7% of the market rate of interest
5. What is the interest rate if Fif = 1,000, PV 600, and t 50 periods? 6. What is the annual rate (APR) if compounding is monthly, and the interest rate is 4% 7. Let there be two compounding periods per year. Let the APR be 10%. What is the EAR'? 8. What is EAR if APR 6% and compounding is monthly? 9. Consider an annuity. What is the payment amount per month if PVA = 6%, and for five...
26. A company issues $15 8% on January 1, 2016. December 31. The proces Using straight-line amor $ $15,000,000, 7.8%, 20-year bond 2016. Interest is paid on June 30 and proceeds from the bonds are $14,703,108. e amortization, what is the carrying value of ne bonds on December 31, 2018? A) $14,752,672 B) $14,955,466 C) $14,725,374 D) $14,747,642 27. Feller Company issues $2 Company issues $20,000,000 of 10-year, 9% bonds on rch 1, 2017 at 97 plus accrued interest. The...
Hillside issues $2,000,000 of 6%, 15-year bonds dated January 1,
2019, that pay interest semiannually on June 30 and December 31.
The bonds are issued at a price of $1,728,224.
Required:
1. Prepare the January 1 journal entry to record
the bonds’ issuance.
2(a) For each semiannual period, complete the
table below to calculate the cash payment.
2(b) For each semiannual period, complete the
table below to calculate the straight-line discount
amortization.
2(c) For each semiannual period, complete the
table...
Rowe Corporation authorized 50,000 of 8% (cash interest payable semiannually) 10-year bonds. The bonds were dated January 1, 2020; interest dates are June 30 and December 31. Assume three different cases with respect to the sale of the bonds: Case A: Bonds sold on January 1, 2020, at par Case B: Bonds sold on January 1, 2020, at 98 Case C: Bonds sold on February 1, 2020, at 102 Complete the following schedule. CASE A CASE B CASE C Face...
Check my Hillside issues $1,300,000 of 7%, 15-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31 The bonds are issued at a price of $1,123,346. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization. 21c) For each semiannual period, complete...
Practice Problems 1. You invest $8,000 in a savings account, the interest rate is 12% per year and the length of time is 15 years. Compounding is monthly. What is the value of the savings account at the end of ten years? 2. What would be the answer if compounding is every six months? 3. How many periods does it take for money to double if the interest rate is 12% per period? 4. If the interest rate is 12%...
QS 10-15B Effective Interest: Bond premium computations LO P6 Garcia Company issues 10%, 15-year bonds with a par value of $220,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8%, which implies a selling price of 117 14. The effective interest method is used to allocate interest expense 1. Using the implied selling price of 117 14. what are the issuer's cash proceeds from Issuance of these bonds. Cash proceeds 2. What...
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