Maria Miller Inc. has issued three types of debt on January 1, 2025, the start of the company's fiscal year. Click here to view factor tables. (a) (b) (c) Prepare a schedule that identifies the following items for each bond: (1) maturity value, (2) number of interest periods over life of bond, (3) stated rate per each interest period, (4) effective-interest rate per each interest period, (5) payment amount per period, and (6) present value of bonds at date of issue. (Round present value factor calculations to 5 decimal places, e.g. 1.25124. Round stated and effective rate per period to 2 decimal places, e.g. 10.25% and other answers to 0 decimal places, e.g. 58,971.) (1) (2) (3) (4) (5) $11 million, 12-year, 15% unsecured bonds, interest payable quarterly. Bonds were priced to yield 10.00%. $26 million par of 12-year, zero-coupon bonds at a price to yield 10.00% per year. $20 million, 12-year, 8.00% mortgage bonds, interest payable annually to yield 10.00%. (6) Maturity value Number of interest periods Stated rate per period Effective rate per period Payment amount per period Present 1111 $ Unsecured Bonds $ % % $ Zero-Coupon Bonds % % $ $ $ Mortgage Bonds UT % %
Maria Miller Inc. has issued three types of debt on January 1, 2025, the start of the company's fiscal year. Click here to view factor tables. (a) (b) (c) Prepare a schedule that identifies the following items for each bond: (1) maturity value, (2) number of interest periods over life of bond, (3) stated rate per each interest period, (4) effective-interest rate per each interest period, (5) payment amount per period, and (6) present value of bonds at date of issue. (Round present value factor calculations to 5 decimal places, e.g. 1.25124. Round stated and effective rate per period to 2 decimal places, e.g. 10.25% and other answers to 0 decimal places, e.g. 58,971.) (1) (2) (3) (4) (5) $11 million, 12-year, 15% unsecured bonds, interest payable quarterly. Bonds were priced to yield 10.00%. $26 million par of 12-year, zero-coupon bonds at a price to yield 10.00% per year. $20 million, 12-year, 8.00% mortgage bonds, interest payable annually to yield 10.00%. (6) Maturity value Number of interest periods Stated rate per period Effective rate per period Payment amount per period Present 1111 $ Unsecured Bonds $ % % $ Zero-Coupon Bonds % % $ $ $ Mortgage Bonds UT % %
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
ChapterMB: Model-building Problems
Section: Chapter Questions
Problem 13M
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