On December 31, 2012, when the market interest rate is 10%, OBrien Realty, Co., issues $800,000 of
Question:
Requirements
1. Determine the present value of the bonds at issuance.
2. Assume that the bonds are issued at the price computed in Requirement 1. Prepare an effective-interest method amortization table for the first two semiannual interest periods.
3. Using the amortization table prepared in Requirement 2, journalize issuance of the bonds and the first two interest payments.
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Req 1 800000 x 725 x 612 29000 semiannual interest payments 29000 x 12462 361398 PV of interes...View the full answer
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
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