9-23 Problem 9-6A (Algo) Understand a bond amortization schedule (LO9-5) [The following information applies to the questions displayed below.] (1) Date 1/1/2024 6/30/2024 12/31/2024 On January 1, 2024, Paradise Hollow Resort issues $27 million of bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: (2) Cash Paid for Interest Interest Expense Face amount $945,000 945,000 3 (3) $1,006,612 1,009,077 C (4) Increase in Carrying Value $61,612 64,077 (5) Carrying Value $25,165,306 25,226,918 25,290,995 Problem 9-6A (Algo) Part 3 3. What is the face amount of the bonds? (Enter your answer in whole dollars, not millions (i.e., $5.5 million should be entered as 5,500,000))
9-23 Problem 9-6A (Algo) Understand a bond amortization schedule (LO9-5) [The following information applies to the questions displayed below.] (1) Date 1/1/2024 6/30/2024 12/31/2024 On January 1, 2024, Paradise Hollow Resort issues $27 million of bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: (2) Cash Paid for Interest Interest Expense Face amount $945,000 945,000 3 (3) $1,006,612 1,009,077 C (4) Increase in Carrying Value $61,612 64,077 (5) Carrying Value $25,165,306 25,226,918 25,290,995 Problem 9-6A (Algo) Part 3 3. What is the face amount of the bonds? (Enter your answer in whole dollars, not millions (i.e., $5.5 million should be entered as 5,500,000))
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter9: Long-term Liabilities
Section: Chapter Questions
Problem 42CE
Related questions
Question
Subject- accounting
![9-23
Problem 9-6A (Algo) Understand a bond amortization schedule (LO9-5)
[The following information applies to the questions displayed below]
On January 1, 2024, Paradise Hollow Resort issues $27 million of bonds that pay interest semiannually on June 30 and
December 31. Portions of the bond amortization schedule appear below:
(1)
Date
1/1/2024
6/30/2024
12/31/2024
(2)
Cash Paid for
Interest Interest Expense
Face amount
$945,000
945,000
(3)
$1,006,612
1,009,077
Ć
Increase in
Carrying
Value
$61,612
64,077
(5)
Carrying
Value
$25,165,306
25,226,918
25,290,995
Problem 9-6A (Algo) Part 3
3. What is the face amount of the bonds? (Enter your answer in whole dollars, not millions (i.e., $5.5 million should be entered as
5,500,000).)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff7373726-0d35-46ca-aa27-97bcf9126f3a%2Fd3358adf-2d53-4bf3-8fcd-0137086e1dec%2F9eojj5h_processed.jpeg&w=3840&q=75)
Transcribed Image Text:9-23
Problem 9-6A (Algo) Understand a bond amortization schedule (LO9-5)
[The following information applies to the questions displayed below]
On January 1, 2024, Paradise Hollow Resort issues $27 million of bonds that pay interest semiannually on June 30 and
December 31. Portions of the bond amortization schedule appear below:
(1)
Date
1/1/2024
6/30/2024
12/31/2024
(2)
Cash Paid for
Interest Interest Expense
Face amount
$945,000
945,000
(3)
$1,006,612
1,009,077
Ć
Increase in
Carrying
Value
$61,612
64,077
(5)
Carrying
Value
$25,165,306
25,226,918
25,290,995
Problem 9-6A (Algo) Part 3
3. What is the face amount of the bonds? (Enter your answer in whole dollars, not millions (i.e., $5.5 million should be entered as
5,500,000).)
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