Crane Company issues $24000000, 4%, 5-year bonds dated January 1, 2020 on January 1, 2020. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 3%. What are the proceeds from the bond issue? 1.5% 2.0% 3% 4% Present value of a single sum for 5 0.92826 0.90573 0.86261 0.82193 periods Present value of a single sum for 10 0.86167 0.82035 0.74409 0.67556 periods Present value of an annuity for 5 4.78264 4.71346 4.57971 4.45182 periods Present value of an annuity for 10 9.22218 8.98259 8.53020 8.11090 periods O $24000000 O $25099221 O $25106726 O $25095151

On January 1, 2019, $40 million face amount of 5%, 20-year bonds were issued. The bonds pay interest on a semiannual basis on June 30 and December 31 each year. The market interest rates were slightly higher than 5% when the bonds were sold. Were these bonds issued at a premium or discount? Will the semiannual interest expense on these bonds be more than or less than the amount of interest paid on each payment date? Multiple Choice The bonds were issued at a discount, and the semiannual interest expense will be more than the amount of interest paid on each payment date. The bonds were issued at a discount, and the semiannual interest expense will be less than the amount of interest paid on each payment date. The bonds were issued at a premium, and the semiannual interest expense will be more than the amount of interest paid on each payment date. The bonds were issued at a premium, and the semiannual interest expense will be less than the amount of interest paid on each payment date.

Ellis Company issues 7.5%, five-year bonds dated January 1, 2021, with a $440,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $449,140. The annual market rate is 7.0% on the issue date. Required: 1. Compute the total bond interest expense over the bonds' life. 2 Dr the de life

On January 1, 2024, Cullumber Co. issued eight-year bonds with a face value of $5920000 and a stated interest rate of 4%, payable semiannually on June 30 and December 31. The bonds were sold to yield 6%. Table values are: Present value of 1 for 8 periods at 4% Present value of 1 for 8 periods at 6% Present value of 1 for 16 periods at 2% Present value of 1 for 16 periods at 3% Present value of annuity for 8 periods at 4% Present value of annuity for 8 periods at 6% Present value of annuity for 16 periods at 2% Present value of annuity for 16 periods at 3% The present value of the principal is O $4312424. O $4325685. O $3714267. O $3689166. 0.73069 0.62741 0.72845 0.62317 6.73274 6.20979 13.57771 12.56110

Temptation Vacations issues $58 million in bonds on January 1, 2021, that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: (1) (2) (3) (4) (5)   Cash Paid for Interest Interest Expense Decrease in Carrying Value Carrying Value Date         1/1/2021       $65,279,805 6/30/2021 $1,740,000 1,631,995 $108,005 $65,279,805 12/31/2021 1,740,000 1,629,295 $110,705 65,171,800 6. What is the total cash paid for interest assuming the bonds mature in 20 years? (Enter your answer in dollars, not millions. (i.e., $5.5 million should be entered as 5,500,000))     Total cash interest

Discount-Mart issues $12 million in bonds on January 1, 2024. The bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds: Date 01/01/2024 06/30/2024 12/31/2024 06/30/2025 12/31/2025 Interest Expense $600,000 $637,417 HIT 639,662 642,041 644,564 Cash Paid 600,000 600,000 Increase in Carrying Value 600,000 $37,417 39,662 42,041 44,564 Carrying Value $10,623,609 10,661,026 10,700,688 10,742,729 10,787,293 What is the stated annual rate of interest on the bonds? (Hint: Be sure to provide the annual rate rather than the six-month rate.) (Do not round your intermediate calculations.)

ABC company issued a 5 year $200,000 bond. The bond has a stated rate of 6% and the market rate of 8%. The company issued the bond at .91889 or $183,778 on January 1", 2019. AMORTIZATION OF BOND DISCOUNT st H J K Interest on Cash Interest Amortization Carrying Value (K + J) Carrying Year Payment. of Discount. Date Description Debit Credit Value. (A * D) (I - H) (K * E) Jan 1 2019 Jan 1, 2019 June 30, 2019 December 31, 2019 June 30, 2020 December 31, 2020 June 30, 2021 December 31, 2021 June 30, 2022 December 31, 2022 June 30, 2023 December 31, 2023 June 30, 2019 Dec 31, 2019 June 30, 2020 A Bond Par Value Discount on Bond Payable B Coupon Rate Jan 1, 2019 June 30, 2,019 Market Rate Dec 31, 2019 Dec 31, 2020 6month coupon rate (B/2) 6 month market rate (C/2) D June 30, 2020 E Dec 31, 2020 Money Received Discount (A-F) F Dec 31,2023