Coney Island Entertainment issues $1,600,000 of 5% bonds, due in 15 years, with interest payable semiannually...
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Coney Island Entertainment issues $1,600,000 of 5% 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: Required: 1. The market interest rate is 5% 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.) Issue price Interest Increase in Date Expense Carrying Value Carrying Value 01/01/18 06/30/18 12/31/18 Cash Paid 2. The market interest rate is 6% 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.) Issue price Interest Increase in Date Carrying Value Expense Carrying Value 01/01/18 06/30/18 12/31/18 Cash Paid 3. The market interest rate is 4% 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.) Issue price Interest Decrease in Date Cash Paid Carrying Value Expense Carrying Value 01/01/18 06/30/18 12/31/18 Coney Island Entertainment issues $1,600,000 of 5% 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: Required: 1. The market interest rate is 5% 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.) Issue price Interest Increase in Date Expense Carrying Value Carrying Value 01/01/18 06/30/18 12/31/18 Cash Paid 2. The market interest rate is 6% 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.) Issue price Interest Increase in Date Carrying Value Expense Carrying Value 01/01/18 06/30/18 12/31/18 Cash Paid 3. The market interest rate is 4% 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.) Issue price Interest Decrease in Date Cash Paid Carrying Value Expense Carrying Value 01/01/18 06/30/18 12/31/18 Coney Island Entertainment issues $1,600,000 of 5% 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: Required: 1. The market interest rate is 5% 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.) Issue price Interest Increase in Date Expense Carrying Value Carrying Value 01/01/18 06/30/18 12/31/18 Cash Paid 2. The market interest rate is 6% 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.) Issue price Interest Increase in Date Carrying Value Expense Carrying Value 01/01/18 06/30/18 12/31/18 Cash Paid 3. The market interest rate is 4% 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.) Issue price Interest Decrease in Date Cash Paid Carrying Value Expense Carrying Value 01/01/18 06/30/18 12/31/18 Coney Island Entertainment issues $1,600,000 of 5% 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: Required: 1. The market interest rate is 5% 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.) Issue price Interest Increase in Date Expense Carrying Value Carrying Value 01/01/18 06/30/18 12/31/18 Cash Paid 2. The market interest rate is 6% 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.) Issue price Interest Increase in Date Carrying Value Expense Carrying Value 01/01/18 06/30/18 12/31/18 Cash Paid 3. The market interest rate is 4% 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.) Issue price Interest Decrease in Date Cash Paid Carrying Value Expense Carrying Value 01/01/18 06/30/18 12/31/18
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1 Market interest rate 5 Issue price 1600000 Date Cash Interest increase ... View the full answer
Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
Posted Date:
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