answer with formula and calculations ExcelMcGraw Hill Excel Question - Savede Search (Option + Q)FileHomeInsertDrawFormulasDataReviewViewHelpO Editing vCalibriV 11BabCurrency...GB17X V fxAC1On January 1, Ruiz Company issued bonds as follows:34Face Amount:$500,000Number of Years:306.Stated Interest Rate:7%7Interest payments per year8.Note: The bonds pay interest semiannually.9.10 Required:111) Given the different market interest rates below, calculate the following items.12 Calculate the bond selling price using the Excel PV function. Enter all function arguments as cell references.1314 (Use cells A4 to B7 from the given information to complete this question.)1516 a) Market Interest Rate:9%17Semiannual Interest Payment:The formula in this cell contains an error.18Bond Selling Price:1920 b) Market Interest Rate:5.50%21Semiannual Interest Payment:22Bond Selling Price:23242. Use the answer either "Premium" or "Discount" to the following items.2526The bond in (a) sold at a:27 The bond in (b) sold at a:28A Graded WorksheetCalculation Mode: AutomaticWorkbook Statistics

A bond is selling at a discount if its selling price is less than its face value and will be trading…

Answered: Required: 1) Given the different market…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Bond Premium and Discount Markway Inc. is contemplating selling bonds. The issue is to be composed of 750 bonds, each with a face amount of $800. 4. Calculate how much Markway is able to borrow if each bond is sold at 103% of par.$fill in the blank 23f1fdf81fe3f91_4 5. Assume that the bonds are sold for $625 each. Prepare the entry to recognize the sale of the 750 bonds. Cash fill in the blank 2552a6f29fa5030_2 fill in the blank 2552a6f29fa5030_3 Discount on Bonds Payable fill in the blank 2552a6f29fa5030_5 fill in the blank 2552a6f29fa5030_6 Bonds Payable fill in the blank 2552a6f29fa5030_8 fill in the blank 2552a6f29fa5030_9 Record issuance of bonds at discount 6. Assume that the bonds are sold for $900 each. Prepare the entry to recognize the sale of the 750 bonds. Cash fill in the blank 1d87ca07df94044_2 fill in the blank 1d87ca07df94044_3 Premium on Bonds Payable fill in the blank 1d87ca07df94044_5 fill in the blank…
usiness FinanceQ&A LibraryPlease provide solutions and explanation. Thank you so much. 1. Use the following information for the next three questions: On January 1, 20x1, ABC Co. acquired 10%, ₱1,000,000 bonds for ₱827,135. The bonds mature on December 31, 20x3 and pay annual interest every December 31. ABC Co. incurred transaction costs ₱80,000 on the acquisition. The effective interest rate adjusted for the effect of the transaction costs is 14%. The bonds are to be held under a “hold to collect and sell” business model. Information on fair values is as follows: December 31, 20x1…………………………….98 December 31, 20x2……………………………102 December 31, 20x3……………………………100 How much is the carrying amount of the investment on December 31, 20x1? a. 935,134 b. 1,002,000 c. 980,000 d. 965,443 How much is the unrealized gain (loss) recognized in other comprehensive income on December 31, 20x1? a. 45,866 b. (45,866) c. (37,899) d. 0 How much is the interest income recognized in 20x2? a.…
Assuming Brokerage fees of $6000, calculate the amount ofcash needed to retire Baldwin's12.4S2031 bond early. Select: 1|Save Answer $5, 826, 767 $ 5, 474, 421 $5, 468, 421
Durable Co.’s December 30, 20X0, balance sheet contained the following items in the long-term liabilities section: Unsecured 9.375% registered bonds (P25,000 maturing annually beginning in 20x4) ₱275,000 11.5% convertible bonds, callable beginning in 20x9, due 2010 125,000 Secured 9.875% guarantee security bonds, due 2x10 ₱250,000 10.0% commodity backed bonds (P50,000 maturing annually beginning in 20x5) 200,000 What are the total amounts of serial bonds and debenture bonds?
Q. Journalize the amortization of the premium/discount on December 31, 20X1. (If necessary, round to the nearest dollar.) A.debit-Premium on bonds payable credit-interest expense (I don't know how to calculate it) Refer to- On January 1, 20X1, your firm issues a $10,000, 5-year, 10% bond with interest payable annually for $10,389. At the time of the issuance, market rates are 9%. Journalize the issuance of the bond
SOLVE STEP BY STEP IN DIGITAL FORMAT DON'T USE AI A company issued $200 bonds that mature at par on July 1, 2019, with interest of 9.5% per annum payable on the first day of the months of January, April, July, and October of each year, that is, each quarter. How much must be paid for each bond on October 1, 2014, if returns of 16% per year compounded quarterly are intended? How much are the profits for the investor who buys them?
APhP10000,5%bondwithsemiannualcouponsispricedtoyield7%.Findthepriceifthebondis redeemable at par at the end of 20 years. a. PhP 8,160.80 b. PhP 7,864.49 c. PhP 7,578.76 d. PhP 7,160.90
Ma3. Dino Company purchased a bond with a face value of $100,000 with a stated interest rate of 6% that pays interest semi-annually on June 30 and December 31. The bond was purchased on January 1, 20X1 and matures in 5 years. It was purchased at 91.889 when interest rates in the market were 8%. Record journal entries that the company would record during 20X1 if the company accounts for this investment under the amortized cost model. Indicate the amounts that would appear on the year-end statement of financial position with regard to this investment. Assume that market interest rate fell to 2% by January 1, 20X3. On that date the bond investment was sold. Record the journal entry that would be made at that time.
Please answer subparts 2b,3 ASAP. On January 1, 2021, Instaform, Inc., issued 12% bonds with a face amount of $75 million, dated January 1. The bonds mature in 2040 (20 years). The market yield for bonds of similar risk and maturity is 14%. Interest is paid semiannually. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 2-b. Assume the market rate was 11%. Prepare the journal entry to record their issuance by Instaform.3. Assume Broadcourt Electronics purchased the entire issue in a private placement of the bonds. Using the data in requirement 2, prepare the journal entry to record the purchase by Broadcourt.
Pls answer number 10 with solutions On January 1, 20x1, SALIENT PROMINENT Co. issued 1,000, ₱4,000, 12%, 3-year bonds for ₱4,412,336. Principal is due on December 31, 20x3 but interests are due annually every year-end. In addition, SALIENT incurred bond issue cost of ₱213,388. What is the effective interest rate on the bond issue? a. 8% c. 12% b. 10% d. 13%
43)Manning Corp issues 10 year , 8% bonds with a face value of $5,000,000, dated January 1, 2020, at 97. The journal entry to record the issuance will show a A)debit to Cash of $5,000,000. B)credit to Cash for $4,850,000. C)credit to Bonds Payable for $4,850,000. D)debit to Discount on Bonds Payable for $150,000.
Brief Exercise 10-08 Metlock, Inc. issues $264,000, 10-year, 10% bonds at 99. Prepare the journal entry to record the sale of these bonds on March 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Enter an account title enter a debit amount enter a credit amount Enter an account title enter a debit amount enter a credit amount Enter an account title enter a debit amount enter a credit amount

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