nation Calculate the issue price of a bond and prepare amortization sc nformation applies to the questions displayed below.] me issues $830,000 of 6% bonds, due in 15 years, with interest payable se ach year
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Required information
Problem 9-7B Calculate the issue price of a bond and prepare amortization schedules (LO9-5, 9-7)
[The following information applies to the questions displayed below.]
Christmas Anytime issues $830,000 of 6% bonds, due in 15 years, with interest payable semiannually on June 30 and
December 31 each year.
Calculate the issue price of a bond and complete the first three rows of an amortization schedule when:
Problem 9-7B Part 3
3. The market interest rate is 5% and the bonds issue at a premium. (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 your answers to nearest whole dollar.)
Issue price
Date
01/01/2021
06/30/2021
12/31/2021
Cash Paid
Interest
Change in
Expense Carrying Value Carrying Value](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F90e7ca00-6ca4-4987-a02f-53e8330d02e7%2F243bc09b-3f76-49d7-82fe-3e1a931f5081%2Fgwlus8_processed.jpeg&w=3840&q=75)
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- ! Required information Problem 9-7B Calculate the issue price of a bond and prepare amortization schedules (LO9-5, 9-7) [The following information applies to the questions displayed below.] Christmas Anytime issues $830,000 of 6% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Calculate the issue price of a bond and complete the first three rows of an amortization schedule when: Problem 9-7B Part 2 2. The market interest rate is 7% and the bonds issue at a discount. (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 your answers to nearest whole dollar.) Issue price Date $ Cash Paid 830,000 Interest Change in Expense Carrying Value 01/01/2021 06/30/2021 $ 29,050 $ 29,050 12/31/2021 29,050 Carrying ValueRequired information Problem 9-7B Calculate the issue price of a bond and prepare amortization schedules (LO9-5, 9-7) [The following information applies to the questions displayed below.] Christmas Anytime issues $720,000 of 6% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Calculate the issue price of a bond and complete the first three rows of an amortization schedule when: Problem 9-7B Part 1 Required: 1. The market interest rate is 6% and the bonds issue at face amount. (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 your answers to nearest whole dollar.) Issue price Date Cash Paid Interest Expense Change in Carrying Value Carrying Value 01/01/2021 06/30/2021 12/31/2021Required information Problem 9-7B Calculate the issue price of a bond and prepare amortization schedules (LO9-5, 9-7) [The following information applies to the questions displayed below.] Christmas Anytime issues $720,000 of 6% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Calculate the issue price of a bond and complete the first three rows of an amortization schedule when: Problem 9-7B Part 2 2. The market interest rate is 7% and the bonds issue at a discount. (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 your answers to nearest whole dollar.) Issue price Date Cash Paid Interest Expense Change in Carrying Value Carrying Value 01/01/2021 06/30/2021 12/31/2021
- ! Required information [The following information applies to the questions displayed below.] On January 1, 2024, Coney Island Entertainment issues $1,500,000 of 6% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assume that the market interest rate is 6% and the bonds issue at face amount. Required: 1a. Calculate the issue price of a bond. 1b. Complete the first three rows of an amortization schedule. (FV of $1, PV of $1, FVA of $1, and PVA of $1)On January 1, 2024, Christmas Anytime issues $680, 000 of 5% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assume that the market interest rate is 6% and the bonds issue at a discount. 2a. Calculate the issue price of a bond. 2b. Complete the first three rows of anamortization scheduleOn January 1, 2024, Christmas Anytime issues $850,000 of 6% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assume that the market interest rate is 7% and the bonds issue at a discount.2a. Calculate the issue price of a bond.2b. Complete the first three rows of an amortization schedule. (FV of $1, PV of $1, FVA of $1, and PVA of $1)
- On January 1, 2024, Christmas Anytime issues $850,000 of 6% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assume that the market interest rate is 5% and the bonds issue at a premium. 3a. Calculate the issue price of a bond.3b. Complete the first three rows of an amortization schedule. (FV of $1, PV of $1, FVA of $1, and PVA of $1)PART I- On November 1, 2020, your company issued $600,000 of 5 year 9% bonds when the market interest rate was 8%. The bonds pay interest annually on October 31 each year. Your company uses the interest method of amortization. a. Calculate the bond selling price on November 1, 2020. Please show the factors you entered into your calculator or spreadsheet to calculate the amount. b. Prepare the bond entries from November 1, 2020 through December 31, 2021 (one vear and two months), assuming your company's year ends on December 31 and your company does NOT make reversing entries on January 1. C. Based upon the entries in part "b." indicate any current liabilities (and the balance in the current account) your company would report on the balance sheet on December 31, 2021 (the second year). d. Based upon the entries in part "b." indicate any NONcurrent liabilities (and the balance in the account) your company would report on December 31, 2021 (the second year)! Required information [The following information applies to the questions displayed below.] On January 1, 2024, Coney Island Entertainment issues $1,500,000 of 6% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assume that the market interest rate is 5% and the bonds issue at a premium. 3a. Calculate the issue price of a bond. 3b. Complete the first three rows of an amortization schedule. (FV of $1, PV of $1, FVA of $1, and PVA of $1)
- With this information how would i make a journal entry for this situation Issued $75,000 of 6% term bonds due on January 1, 2025 (10 periods), with interest payable each June 30 and December 31. Investors require an effective interest rate of 8%. Record the entries for the issuance of the bond and Book the interest payment and amortization on the discount for the bond.Legacy issues $660,000 of 5.5%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $648,412 when the market rate is 6%. Problem 14-4A Part 4 4. Prepare the journal entries to record the first two interest payments. Record the interest payment and amortization on June 30. Record the interest payment and amortization on December 31.Part 3: Bonds On January 1, 2022 JK Exercise Gear issues $600,000 of 5% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. For each scenario, calculate the issue price of a bond, complete the first three rows of an amortization schedule and record the journal entries for the first three transactions. Scenario A: The market interest rate is 7%. 1. The bond is recorded at a 2. Calculate the issue price of the bond: 3. Complete the bond amortization schedule using your Bond Template in Excel. 4. Use your bond amortization schedule and record the journal entry for the issuance of the bond on January 1. Account Debit Account 5. Use your bond amortization schedule and record the journal entry for the first cash interest payment on June 30. Credit Debit Credit