Hello,Can I please get help for the following question?A company issued a $3.9M face amount bond on June 1st, 2016 at 6% for 10 years. These bonds pay interest on an annual basis on May 31st each year.Calculate the interest expense that the company will show with respect to these bonds in its income statements for the year ending Sept 30, 2016 assuming that the discount of $362,000 is amortized on a straight-line basis. I'm trying to get the following numbers:Accrued interest payable:Discount amortization.Thank you very much,Michael

Stacy Company issued five-year, 8% bonds with a face value of $6,000 on January 1, 2016. Interest is paid annually on December 31. The market rate of interest of January 1, 2016, is 6%, and the proceeds from the bond issuance equal $6,505. What is the premium amortization?

Give me correct answer with explanation.

Take me to the text On January 1, 2023, Bootic Inc. issued $3,182,000 worth of 4% redeemable bonds due in 9 years. At the time of issue, the market interest rate was 3% (interest is due annually). Calculate the discount or premium at which the bonds were issued. The company's year end is December 31. Do not enter dollar signs or commas in the input boxes. Round your answer to the nearest whole number. For bond calculations, use the PV tables at the end of Chapter 7 textbook or use a financial calculator. The bond is issued at a: Premium + Premium/Discount: $ Check

Stephanie Ram Corporation have a $880,000 "bond issue" dated February 1, 2016 due in 10 years with an annual interest rate of 12%. Interest is payable February 1 and August 1. On April 1, 2016, the bond was sold for $826,900 plus accrued interest. Using the straight-line method, prepare the general journal entries for each of the following: a) The issuance of the bond on April 1, 2016. b) Payment of the semi-annual interest and the amortization of the discount on August 1, 2016. c) Accrual of the interest and the amortization of the discount on December 31, 2016. d) Payment of the semi-annual interest and the amortization of the discount on February 1, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas. Round answers to 2 decimal places, eg. 5,275.25.) Date Account Titles and…

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GoldenSeal Pharmacy borrowed $630,000 on January 2, 2025, by issuing a 15% serial bond payable that must be paid in three equal annual installments plus interest for the year. The first payment of principal and interest comes due January 2, 2026. Complete the missing information. Assume bonds are issued at face value. (Complete all input fields. For accounts with a $0 balance, make sure to enter a 0 in the appropriate cell.) Current Liabilities: Bonds Payable Interest Payable Long-Term Liabilities: Bonds Payable 2025 December 31 2026 2027

Luther Company borrowed money by issuing $4,500,000 of 8% bonds payable at 101.2 on July 1, 2018. The bonds are five-year bonds and pay interest each January 1 and July 1. Read the requirements. 1. How much cash did Luther receive when it issued the bonds payable? Journalize this transaction. Luther received $ 4500000 when the bonds payable were issued. Journalize the issuance of the bonds payable. (Record debits first, then credits. Exclude explanations from any journal entries.) Date Jul 1 Cash Bonds Payable Journal Entry Accounts Premium on Bonds Payable Debit Credit 2. How much must Luther pay back at maturity? When is the maturity date? At maturity, Luther must pay back $ The maturity date is

An accounting example: Otter Products inc issued bonds on January 1, 2019. Interest to be paid semi-annually. Term in years is 2; Face value of bonds issued is $200,000; Issue Price $206,000; Specified Interest Rate each payment period is 6% Question. Calculate a. the amount of interest paid in cash every payment period. b. The amount of amortization to be recorded at each interest payment date (use straight-line method) c. complete amoritzation table by calculating interest expense and beginning and ending bond carrying amounts at the each period over 2 years.  The term is for 2 years however 3 years is showing on the workbook. How do I calcuate the 3rd year if the problem only says the term is 2 years?

Just need help with the few red fields. Thank you!