Question: Il he anclal stateenCcspia d. Record each or the transactions TroT part Reporting Financial Statement Effects of Bond Transactions On January 1, 2016, Shields, Inc.,

Il he anclal stateenCcspia d. Record each or the transactions TroT

Il he anclal stateenCcspia d. Record each or the transactions TroT part Reporting Financial Statement Effects of Bond Transactions On January 1, 2016, Shields, Inc., issued $800,000 of 9%, 20-year bonds for $879,172, yieldin market (yield) rate of 8%. Semiannual interest is payable on June 30 and December 31 of each a. Show computations to confirm the bond issue price. b. Prepare journal entries to record the bond issuan E9-46. ce, semiannual interest payment and prem amorti amortization on June 30, 2016, and semiannual interest payment and premium on December 31,2016. Use the effective interest rate method. Post the journal entries from part b to their respective T-accounts. Record each of the transactions from part b in the financial statement effects templa c. d. te. 9-47. Analyzing Bond Pricing Int

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