Question: need help with 4 questions 1. 2. 3. 4. Completing a Bond Amortization Table (Effective Interest Rate Method) Cagney Company sold $200,000 of bonds on







Completing a Bond Amortization Table (Effective Interest Rate Method) Cagney Company sold $200,000 of bonds on July 1, 2022. A portion of the amortization table appears below. Cash Payment Interest Expense (Credit) (Debit) Discount on Bonds Discount on Bonds Payable (Credit) $8,600 $9,150 8,600 9,176 Period 12/31/23 6/30/24 12/31/24 Required: 1. Indicate the stated interest rate on these bonds. Round your answer to one decimal place. % ? Period 12/31/23 6/30/24 12/31/24 $8,600 8,600 $550 576 ? (Debit) Payable Balance. Carrying Value 2. Calculate the effective annual interest Tate on these bonds. Round your answer to one decimal place. % $9,150 9,176 $4,771 4,195 3. Determine the interest expense and discount amortization for the interest period ending December 31, 2024. If required, round your answers to the nearest whole dollar. Cash Payment Interest Expense (Credit) Discount on Bonds Payable (Credit) $550 576 ? $195,229 195,805 Discount on Bonds. Payable Balance $4,771 4,195 ? Carrying Value $195,229 195,805 eBook Period 12/31/23 6/30/24 12/31/24 Required: (Credit) Show Me How $8,600 8,600 ? Period 12/31/23 6/30/24 12/31/24 (Debit) $9,150 9,176 ? Payable (Credit) $550 576 Payable Balance 1. Indicate the stated interest rate on these bonds. Round your answer to one decimal place. % (Debit) $4,771 4,195 ? $9,150 9,176 2. Calculate the effective annual interest rate on these bonds. Round your answer to one decimal place. % Carrying Value 3. Determine the interest expense and discount amortization for the interest period ending December 31, 2024. If required, round your answers to the nearest whole dollar. Cash Payment Interest Expense (Credit) $8,600 8,600 Discount on Bonds Discount on Bonds Payable (Credit) Payable Balance $550 576 $195,229 195,805 $4,771 4,195 ? Carrying Value $195,229 195,805 4. Determine the liability balance after the interest payment is recorded on December 31, 2024. If required, round your answer to the nearest whole dollar.
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