On June 30, 2024, Single Computers issued 8% stated rate bonds with a face amount of $100 million. The bonds mature on June 30,2039 (15 years). The market rate of Interest for similar bond issues was 5% (2.5% semiannual rate). Interest is paid semiannually (4.0%)on June 30 and December 31, beginning on December 31, 2024.Note: Use tables, Excel, or a financial calculator. (EV of $1. PV of $1 EVA of $1. PVA of $1 EVAD of $1 and PVAD of $1)Required:1. Determine the price of the bonds on June 30, 20242. Calculate the interest expense Single reports in 2024 for these bonds using the effective interest method.Complete this question by entering your answers in the tabs below.Required 1 Required 2Determine the price of the bonds on June 30, 2024.Note: Round percentage answers to one decimal place. Round your final answers to nearest whole dollar amount, not inmillions.Table values are based on:Cash FlowInterestPrincipalPrice of bondsn=AmountPresent ValueRequiredRequired 2>Next

On June 30, 2024, Single Computers issued 8% stated rate bonds with a face amount of $100 million. The bonds mature on June 2039 (15 years). The market rate of Interest for similar bond issues was 5% (2.5% semiannual rate). Interest is paid semiannually (4. on June 30 and December 31, beginning on December 31, 2024. Note: Use tables, Excel, or a financial calculator. (EV of $1. PV of $1 EVA of $1 PVA of $1. EVAD of $1 and PVAD of $1) Required: Determine the price of the bonds on June 30, 2024. affective interest method

On June 30, 2024, Single Computers issued 8% stated rate bonds with a face amount of $100 million. The bonds mature on June 2039 (15 years). The market rate of Interest for similar bond issues was 5% (2.5% semiannual rate). Interest is paid semiannually (4. on June 30 and December 31, beginning on December 31, 2024. Note: Use tables, Excel, or a financial calculator. (EV of $1. PV of $1 EVA of $1 PVA of $1. EVAD of $1 and PVAD of $1) Required: Determine the price of the bonds on June 30, 2024. affective interest method

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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BlueLtd. Issued a $1,164,000, 10-year bond dated January 1, 2020. The bond was sold to yield 12% effective interest. The bond paid 10% interest on January 1 and July 1 each year. The company's year-end was December 31, and Blue followed IFRS. Using 1 factor Tables 2. a financial calculator, or 3. Excel function PV, calculate the amount received for the bond, and any discount or premium on the bond. Click here to view the tactor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITYOF 1 (For calculation purposes, use 5 decimal places as displayed in the factor table provided and final answers to 0 decimal places, e.g. 5,275.) Proceeds from sale of bond : on bond Prepare the journal entries for above transactions. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the…
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Auerbach Inc. issued 8% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $300 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 10%. How much cash interest does Auerbach pay on March 31, 2022? (Round your answer to 2 decimal places.) Top of Form Multiple Choice $24.00 million. $12.00 million. $30.00 million. $15.00 million.
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Terra Ccompany issued a $300,000, 7.50%, 10-year bond on June 1, 2015. Additional information on the bond follows: Bond Date: January 1, 2015 December 31, 2024 Maturity Date: Yield (Market) Rate: Interest Payment Date:: Terra's year end: Required: Round calculations to the nearest dollar a) Calculate the present value of the bond assuming that it had been issued on January 1, 2015. Show calculations/keystrokes. 8% Interest is paid annually on December 31 of each year September 30 b) Prepare a bond amortization table from January 1, 2015 until December 31, 2018. Show each annual interest payment. c) Calculate the total amount of cash received by Terra on June 1, 2015, reflecting the fact the bond was issued on June 1, 2015. Make the journal entry to record the bond issue on June 1, 2015.