How to calculate Pmt and FV Question 5 Partially correct Mark 2.50 out of 2.60Analyzing and Reporting Financial Statement Effects of Bond TransactionsOn January 1 of the current year, Banek Inc. issued $560,000 of 8%, nine-year bonds for $494,538, whichimplies a market (yield) rate of 10%. Semiannual interest is payable on June 30 and December 31 of eachyear.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 question0.05 ✔18 ✔7,290.48 x1,119,442 x494,538.31 ✔eBookPrint5. Indicate the financial statement effects using the template for (1) bond issuance, (2) semiannual interesayment and discount amortization on June 30 of the current year, and (3) semiannual interest paymentand 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

Formula: FV=Face value of bonds Pmt=Face value×Coupon rate×6 months12 monthsWorkings:Answer:

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.

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.

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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