Bonds - Excel Project

Complete your work in Excel using formulas.

Situation:

BU Curriculum Corporation issued $800,000 of 9% bonds on September 1, 2021, due on September 1, 2026. The interest is to be paid twice a year on March 1 and September 1. The bonds were sold to yield 12% effective annual interest. BU Curriculum Corporation closes its books annually on December 31.

(a) Complete an amortization schedule for the above bond (for all periods) in a similar format as below using Excel. There should only be formulas in your table - NO hardcoded numbers. You can round to the nearest dollar or penny. Use the effective-interest method.

Date	Credit Cash	Debit Interest Expense	Credit Bond Discount	Carrying Amount of Bonds
Sep. 1, 2021				Use the NPV or PV formula in Excel; see posted bond excel sheet in the classroom
Mar. 1, 2022 ....continue schedule (use Excel)