Question: I am not sure what I'm doing wrong for required 3. Exercise 10-7 Straight-Line: Amortization of bond premium LO P3 Quatro Co. issues bonds dated



I am not sure what I'm doing wrong for required 3.
Exercise 10-7 Straight-Line: Amortization of bond premium LO P3 Quatro Co. issues bonds dated January 1, 2017, with a par value of $400,000. The bonds' annual contract rate is 13%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 12%, and the bonds are sold for $409,850 1. What is the amount of the premium on these bonds at issuance? 2. How much total bond interest expense will be recognized over the life of these bonds? 3. Prepare an amortization table for these bonds; use the straight-ine method to amortize the premium. Answer is complete but not entirely correct Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the amount of the premium on these bonds at issuance? Premium 9,850 Required 2> Required 1 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs belovw Required 1Required 2Required 3 How much total bond interest expense will be recognized over the life of these bonds? Total Bond Interest Expense Over Life of Bonds Amount repaid payments of S 26,000S 156,000 400,000 556,000 Par value at maturity Total repaid Less amount borrowed Total bond interest expense S 146,150 Required 3 > Required 1 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2Required 3 Prepare an amortizatlon table for these bonds; use the stralght-line method to amortize the premium. (Round your Intermediate calculations to the nearest dollar amount.) Semiannual Interest Period- End Carrying Value Unamortized Premium 01/01/2017 $ 9,850S 409,850 8,441 408,441 6,947 406,947 5,364 405,364 3,686 403,686 402,044 400,000 06/30/2017 12/31/2017 12/31/2018 06/30/2019 12/31/2019 2,044 Required 3 Required 2
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