Question: how to solve on excel with the formulas please DIN Payu Layout Formulas Data Review View Help F50 4 40 DK 42 Requirement 4: General

DIN Payu Layout Formulas Data Review View Help F50 4 40 DK 42 Requirement 4: General Journal Account 31-Jul-16 Debit Credit 31-Dec-16 31-Jan-17 31-Jul-17 31-Dec-17 31-Jan-18 Given Data Problem Template Given Data: On February 1, 2016, Alex Company issued 9% bonds, dated February 1, with a face amount of $80 million. The bonds mature on January 31, 2020 (4 years). The market yield for bonds of similar risk and maturity was 10%. Interest is paid semiannually on July 31 and January 31. The fiscal years of both firms end December 31. Times Ne 0 Required: . 1. Determine the price of the bonds issued on February 1, 2016. 2. Prepare amortization schedules that the effective interest expense on the bond 13 3. Prepare the journal entries to record the issuance of the bonds by Alex Company February 1, 2016. 144. Prepare the journal entries to record all subsequent events related to the bonds through January 31, 2018, Alex Co. $ 80,000,000 20 Bond issue by Alex Co. 21 Bond issue (years) 2 Bond issue interest rate 23 Market annual yield 9% 10%
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
