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cel to calculate the issue price of the bonds.

cel to calculate the issue price of the bonds.

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 3EB: Smashing Cantaloupes Inc. issued 5-year bonds with a par value of $35,000 and an 8% semiannual...
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Requirements 1. 2. Use the PV function in Excel to calculate the issue price of the bonds. Prepare a bond amortization table for the first four semiannual interest periods. 3. Record the issuance of bonds payable on June 30, 2021; the payment of interest on December 31, 2021; and the payment of interest on June 30, 2022. - X
Transcribed Image Text:Requirements 1. 2. Use the PV function in Excel to calculate the issue price of the bonds. Prepare a bond amortization table for the first four semiannual interest periods. 3. Record the issuance of bonds payable on June 30, 2021; the payment of interest on December 31, 2021; and the payment of interest on June 30, 2022. - X
On June 30, 2021, the market interest rate is 5%. Champ Corporation issues $650,000 of 10%, 30-year bonds payable. The bonds pay interest on June 30 and December 31. The company amortizes bond premium using the effective-interest method. Read the requirements. Requirement 1. Use the PV function in Excel to calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.) The issue price of the bonds is
Transcribed Image Text:On June 30, 2021, the market interest rate is 5%. Champ Corporation issues $650,000 of 10%, 30-year bonds payable. The bonds pay interest on June 30 and December 31. The company amortizes bond premium using the effective-interest method. Read the requirements. Requirement 1. Use the PV function in Excel to calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.) The issue price of the bonds is
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