Required information Exercise 9-21 (Algo) Calculate the issue price of bonds (LO9-7) [The following information applies to the questions displayed below] On January 1, 2024, Ocean World issues $39.1 million of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. The proceeds will be used to build a new ride that combines a roller coaster, a water ride, a dark tunnel, and the great smell of outdoor barbeque, all in one ride. Exercise 9-21 (Algo) Part 3 3-a. If the market rate is 10%, calculate the issue price. (EV of $1. PV of $1. EVA of $1, and PVA of $1) 3-b. Will the bonds issue at face amount, a discount, or a premium?
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- Required information [The following information applies to the questions displayed below.] On January 1, 2024, Splash City issues $500,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 10%, the bonds will issue at $457,102. Required: 1. Complete the first three rows of an amortization schedule. (Round your intermediate and final answers to the nearest whole dollar.) Date 1/1/2024 6/30/2024 12/31/2024 Cash Paid Interest Expense Change in Carrying Value Carrying Value! Required information Exercise 9-21 (Algo) Calculate the issue price of bonds (LO9-7) [The following information applies to the questions displayed below.] On January 1, 2024, Ocean World issues $39.1 million of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. The proceeds will be used to build a new ride that combines a roller coaster, a water ride, a dark tunnel, and the great smell of outdoor barbeque, all in one ride. Exercise 9-21 (Algo) Part 2 2-8. If the market rate is 9%, calculate the issue price. (EV of $1. PV of $1. FVA of $1, and PVA of $1) 2-b. Will the bonds issue at face amount, a discount, or a premium? Complete this question by entering your answers in the tabs below. Reg 2a Reg 2b If the market rate is 9%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Enter your answers in dollars not in millions (i.e., $5.5 million should be entered as…! Required information Exercise 9-22 (Algo) Calculate the issue price of bonds (LO9-7) [The following information applies to the questions displayed below.] On January 1, 2024, Water World issues $25.3 million of 6% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Water World intends to use the funds to build the world's largest water avalanche and the "tornado"- a giant outdoor vortex in which riders spin in progressively smaller and faster circles until they drop through a small tunnel at the bottom. Exercise 9-22 (Algo) Part 3 3-a. If the market rate is 7%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1) 3-b. Will the bonds issue at face amount, a discount, or a premium? Complete this question by entering your answers in the tabs below. Req 3a Req 3b If the market rate is 7%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Note: Use tables, Excel, or a financial calculator. Enter…
- Required information [The following information applies to the questions displayed below.] On January 1, 2021, Splash City issues $360,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at $335,539. Required: 1. Complete the first three rows of an amortization table. (Round your intermediate and final answers to the nearest whole dollar.) Change in Carrying Value Carrying Value Interest Date Cash Paid Expense 1/1/21 $ 335,539 6/30/21 12/31/21Required information [The following information applies to the questions displayed below.] On January 1, 2024, Splash City issues $460,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 7%, the bonds will issue at $502,303. Required: 1. Complete the first three rows of an amortization schedule. (Round your final answers to the nearest whole dollar.) Date 1/1/2024 6/30/2024 12/31/2024 Cash Paid Interest Expense Change in Carrying Value Carrying Value! Required information Exercise 9-21 (Static) Calculate the issue price of bonds (LO9-7) [The following information applies to the questions displayed below.] On January 1, 2024, Frontier World issues $41 million of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. The proceeds will be used to build a new ride that combines a roller coaster, a water ride, a dark tunnel, and the great smell of outdoor barbeque, all in one ride. Exercise 9-21 (Static) Part 3 3-a. If the market rate is 10%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1) 3-b. Will the bonds issue at face amount, a discount, or a premium? Complete this question by entering your answers in the tabs below. Req 3a Req 3b If the market rate is 10%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Enter your answers in dollars not in…
- ! Required information [The following information applies to the questions displayed below.] On January 1, 2024, Splash City issues $370,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at $406,617. Required: 1. Complete the first three rows of an amortization schedule. Note: Round your final answers to the nearest whole dollar. Date Cash Paid Interest Expense Change in Carrying Value Carrying Value 1/1/2024 6/30/2024 12/31/2024Required information [The following information applies to the questions displayed below.] Alaskan Frontier provides rail and bus tours of Alaska. Alaska Frontier issues $310,000 of 9% bonds on January 1, 2021 to finance operations. The bonds are due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 10%, the bonds will issue at $283.405. Required: 1. Complete the first three rows of an amortization table. (Round your intermediate and final answers to the nearest whole dollar.) Interest Expense Change in Carrying Value Carrying Value Date Cash Paid 1/1/21 6/30/21 12/31/21Required information [The following information applies to the questions displayed below.] On January 1, 2024, Splash City issues $370,000 of 6% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 7% and the bonds issued at $330,493. 2. If the market interest rate drops to 6% on December 31, 2025, it will cost $370,000 to retire the bonds. Record the retirement of the bonds on December 31, 2025. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.) View transaction list Journal entry worksheet 1 Record the retirement of the bonds. Note: Enter debits before credits. Date December 31, 2025 Bonds Payable Loss Record entry General Journal Discount on Bonds Payable Cash Clear entry Debit 370,000 37,537 370,000 Credit 332,463 View general journal
- ! Required information [The following information applies to the questions displayed below.] On January 1, 2021, Splash City issues $350,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 7%, the bonds will issue at $382,187. Required: 1. Complete the first three rows of an amortization table. (Round your final answers to the nearest whole dollar.) Decrease in Carrying Value Interest Carrying Value Date Cash Paid Expense 1/1/21 6/30/21 12/31/21Required information [The following information applies to the questions displayed below.] Alaskan Frontier provides rail and bus tours of Alaska. Alaska Frontier issues $310,000 of 9% bonds on January 1, 2021 to finance operations. The bonds are due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 10%, the bonds will issue at $283,405. 2. Record the bond issue on January 1. 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transection/event, select "No Journal Entry Required" in the first account field. Round your intermediate and final answers to the nearest whole dollar.) View transaction list 1 Record the bond issue. 2 Record the first semiannual interest payment. Record the second semiannual interest payment. CreditRequired information [The following information applies to the questions displayed below.] On January 1, 2021, Wild Rapids Water Park issues $40.9 million of 8% bonds to finance expansion. The bonds are due in 15 years, with interest payable semiannually on June 30 and December 31 each year. 2-a. If the market rate is 8%, calculate the issue price. (FV of $1. PV of $1. FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Enter your answers in dollars not in millions. Round "Market interest rate" to 1 decimal place. Round your final answers to the nearest whole dollar.) Bond Characteristics Amount Face amount Interest payment $ 40,900,000 Periods to maturity Market interest rate Issue price 2-b. The bonds will issue at O A Discount OA Premium O Face amount