Question: please help explain how each step is done with their excel formulas for a thumbs up ! In each of the following independent cases the
please help explain how each step is done with their excel formulas for a thumbs up
In each of the following independent cases the compary doses its books on December
Sandford Co sells bonds on March The bonds pay interest on September and March The
due date of the bonds is September Pertinent information follows:
Give the entries through December
Titaria Co sells bonds on June The bonds pay interest on December and June The due
date of the bonds is June On October Titarla buys back a portion of the bonds.
Additional information follows:
Give the entries through December
Instructions
For the two cases prepare all of the relevant journal entries from the time of sale until the date indicated.
Use the effectiveinterest method for discount and premium amortization oonstruct amortization tables
where applicable Amortise premium or discount on interest dates and at yearend. Assume that no
reversing entries were made.
Sunford Co
Calculation of issoe price and discount using Excels PV function:
Maturity Valae of Boeds Payable
Proceeds from Sale of Boods using Excels PV Function
Discount oa Boods Payable
Schedule of Boed Discouns Amortization
Effective Interest Method
Boods Sold to Yield
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