Spiller Corporation plans to issue 8%, 7-year, $480, 21
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- Chung Inc. issued $50,000 of 3-year bonds on January 1, 2018, with a stated rate of 4% and a market rate of 4%. The bonds paid interest semi-annually on June 30 and Dec. 31. How much money did the company receive when the bonds were issued? The bonds would be quoted at what rate?Spiller Corporation plans to issue 6%, 6-year, $480,000 par value bonds payable that pay interest semiannually on June 30 and December 31. The bonds are dated January 1 of the current year and are issued on that date. (PV of $1, FV of $1, PVA of $1, and FVA of $1) Note: Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places and final answers to nearest whole dollar. If the market rate of interest for the bonds is 4% on the date of issue, what will be the total cash proceeds from the bond issue? Table Values are Based on: Cash Flow Present (maturity) value Interest (annuity) Total cash proceeds n= i= Table Value Amount Present ValueSpiller Corporation plans to issue 12%, 6-year, $560,000 par value bonds payable that pay interest semiannually on June 30 and December 31. The bonds are dated January 1 of the current year and are issued on that date. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places and final answers to nearest whole dollar.) If the market rate of interest for the bonds is 10% on the date of issue, what will be the total cash proceeds from the bond issue? Table Values are Based on: n = Cash Flow Table Value Amount Present Value Present (maturity) value Interest (annuity) Total cash proceeds
- Pretzelmania, Incorporated, issues 7%, 10-year bonds with a face amount of $70,000 for $70,000 on January 1, 2024. Interest is paid semiannually on June 30 and December 31. Determine the financial statement effects of (1) the bond issue on January 1, 2024, and (2) the first interest payment on June 30, 2024. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the financial statement effects of the bond issue on January 1, 2024. (Amounts to Income Statement Revenues Assets II Balance Sheet Expenses LiabilitiesSpiller Corp. plans to issue 6%, 9-year, $550,000 par value bonds payable that pay interest semiannually on June 30 and December 31. The bonds are dated December 31, 2019, and are issued on that date. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places and final answers to nearest whole dollar.)If the market rate of interest for the bonds is 4% on the date of issue, what will be the total cash proceeds from the bond issue?Golden Inc. issues $4,000,000, 5-year, 10% bonds at 102, with interest payable annually on January 1. The straight-line method is used to amortize bond premium. Prepare the journal entry to record the sale of these bonds on January 1, 2020. what is the account title or explanation ? what is debit or credit ?
- Banjo Education Corp. issued a 4%, $110,000 bond that pays interest semiannually each June 30 and December 31. The date of issuance was January 1, 2020. The bonds mature after four years. The market interest rate was 6%. Banjo Education Corp.’s year-end is December 31. Use TABLE 14A.1 and TABLE 14A.2. (For all the requirements, Use appropriate factor(s) from the tables provided.) Required:Preparation Component:1. Calculate the issue price of the bond. (Round the final answer to the nearest whole dollar.) 2. Prepare a general journal entry to record the issuance of the bonds. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) 3. Determine the total bond interest expense that will be recognized over the life of these bonds. (Do not round intermediate calculations. Round your answer to the nearest whole dollar.)Pretzelmania, Incorporated, issues 7%, 15-year bonds with a face amount of $64,000 for $58,467 on January 1, 2024. The market interest rate for bonds of similar risk and maturity is 8%. Interest is paid semiannually on June 30 and December 31. Required: 1. & 2. Record the bond issue on January 1, 2024 and first interest payment on June 30, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round your intermediate calculations. Round final answers to the nearest whole dollar.) View transaction list Journal entry worksheet 1 2 Record the bond issue on January 1, 2024. Note: Enter debits before credits. Date January 01, 2024 General Journal Debit CreditStinson Corporation issued $600,000 of 7%, 10-year bonds payable on March 31, 2022. The market interest rate at the date of issuance was 9%, and the bonds pay interest semiannualy. St Corporation's year-end is March 31. Read the requirements. 1. Using the PV function in Excel, The issue price of the bonds is Requirements 1. Using the PV function in Excel, calculate the issue price of the bonds 2. Prepare an effective-interest amortization table for the bonds through the first three interest payments. Round amounts to the nearest dollar 3. Record Stinson Corporation's issuance of the bonds on March 31, 2022, and payment of the first semiannual interest amount and amortization of the bond discount on September 30, 2022 Explanations are not required Print Done X Clear all Check answer
- On January 1, 2025, Noah Unlimited issues 12%, 15-year bonds payable with a face value of $230,000. The bonds are issued at 103 and pay interest on June 30 and December 31. (Assume bonds payable are amortized using the straight-line amortization method.) Read the requirements. ... Requirement 1. Journalize the issuance of the bonds on January 1, 2025. (Record debits first, then credits. Select explanations on the last line of the journal entry.) Date Jan. 1, 2025 Accounts and Explanation Debit CreditOn January 1, 2023, Kristopher Co. issued ten-year bonds with a face value of $7,000,000 and a stated interest rate of 5%, payable semiannually on June 30 and December 31. The bonds were sold to yield 4%. Required: a. Calculate the issue price of the bonds. b. Prepare journal entries for the issuance on January 1, 2023 and the June 30, 2023 interest payment date, assuming the company uses the effective interest method for amortizing any premium or discount. calculate in excel format calculate the issue price of bondsWaldron Corporation issued $900,000 of 16%, 10-year bonds payable on January 1, 2022. The market interest rate at the date of issuance was 14%, and the bonds pay interest semiannually (on June 30 and December 31). Waldron Corporation's year-end is June 30. Read the requirements 1. Using the PV function in Excel, calculate the issue price of the bonds. (Round your answer to the nearest whole dollar) The issue price of the bonds is Requirements 1. Using the PV function in Excel, calculate the issue price of the bonds. 2. Prepare an effective-interest amortization table for the bonds through the first three interest payments, Round amounts to the nearest dollar. 3. Record Waldron Corporation's issuance of the bonds on January 1, 2022, and payment of the first semiannual interest amount and amortization of the bond premium on June 30, 2022 Explanations are not required Print Done