FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
How to calculate Pmt and FV
Question 5 Partially correct Mark 2.50 out of 2.60 Analyzing and Reporting Financial Statement Effects of Bond Transactions On January 1 of the current year, Banek Inc. issued $560,000 of 8%, nine-year bonds for $494,538, which implies a market (yield) rate of 10%. Semiannual interest is payable on June 30 and December 31 of each year. a. Show Excel inputs to confirm the bond issue price. Note: Round your answer to two decimal places. rate= nper = pmt = FV = Answer = $ P Flag question 0.05 ✔ 18 ✔ 7,290.48 x 1,119,442 x 494,538.31 ✔ eBook Print 5. Indicate the financial statement effects using the template for (1) bond issuance, (2) semiannual interes ayment and discount amortization on June 30 of the current year, and (3) semiannual interest payment and discount amortization on December 31 of the current year. te: For each account category, indicate the appropriate account name. Enter "N/A" for any account
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Transcribed Image Text:Question 5 Partially correct Mark 2.50 out of 2.60 Analyzing and Reporting Financial Statement Effects of Bond Transactions On January 1 of the current year, Banek Inc. issued $560,000 of 8%, nine-year bonds for $494,538, which implies a market (yield) rate of 10%. Semiannual interest is payable on June 30 and December 31 of each year. a. Show Excel inputs to confirm the bond issue price. Note: Round your answer to two decimal places. rate= nper = pmt = FV = Answer = $ P Flag question 0.05 ✔ 18 ✔ 7,290.48 x 1,119,442 x 494,538.31 ✔ eBook Print 5. Indicate the financial statement effects using the template for (1) bond issuance, (2) semiannual interes ayment and discount amortization on June 30 of the current year, and (3) semiannual interest payment and discount amortization on December 31 of the current year. te: For each account category, indicate the appropriate account name. Enter "N/A" for any account
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