Question: PLEASE DO IN EXCEL AND SHOW ALL CALCULATIONS AND FORMULAS. THANK YOU On January 1, 2022, Warmer Corp issued $12 million of 7% bonds. The

 PLEASE DO IN EXCEL AND SHOW ALL CALCULATIONS AND FORMULAS. THANK

PLEASE DO IN EXCEL AND SHOW ALL CALCULATIONS AND FORMULAS. THANK YOU

On January 1, 2022, Warmer Corp issued $12 million of 7% bonds. The bonds pay semi- annual interest on July 1 and January 1, and have a maturity date of January 1, 2027. The market interest rate on January 1, 2022 for similar bonds was 7.5%. Warmer Corp. reports under IFRS. Required: a) Calculate the proceeds of issuance and prepare a bond amortization schedule for the life of the bonds. (5 marks) b) Prepare the required journal entries for the bonds at the following dates: (i) January 1, 2022 (1 mark) (ii) December 31, 2022 (2 marks) (iii) January 1, 2023 (1 mark) c) Assume that on April 30, 2024, Warmer Corp reacquired $4 million of the above bonds at 98 plus accrued interest. Prepare the required journal entry(ies) to record the retirement. (4 marks) d) Ignore parts (a) through (c) and refer to the original information. Assume that Warmer Corp. incurred bond issuance costs of $250,000. Calculate the effective interest rate per annum that it would use to amortize the bond premium or discount. (2 marks) e) Ignore parts (a) through (d) and refer to the original information. Assume that the bonds were issued at 99. Each $1,000 bond is convertible into 10 common shares of Warmer Corp. Prepare the journal entry required to record the issuance of the convertible bonds

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