!Required informationProblem 9-7B Calculate the issue price of a bond and prepare amortization schedules (LO9-5, 9-7)[The following information applies to the questions displayed below.]Christmas Anytime issues $830,000 of 6% bonds, due in 15 years, with interest payable semiannually on June 30 andDecember 31 each year.Calculate the issue price of a bond and complete the first three rows of an amortization schedule when:Problem 9-7B Part 22. The market interest rate is 7% and the bonds issue at a discount. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriatefactor(s) from the tables provided. Do not round interest rate factors. Round your answers to nearest whole dollar.)Issue priceDate$Cash Paid830,000Interest Change inExpense Carrying Value01/01/202106/30/2021 $ 29,050 $ 29,05012/31/202129,050Carrying Value

Price of bond is the present value of coupon payments plus present value of the face value of bond…

Answered: Required information Problem 9-7B…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter10: Long-term Liabilities

Section: Chapter Questions

Problem 10.1P

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Required information Problem 9-7B Calculate the issue price of a bond and prepare amortization schedules (LO9-5, 9-7) [The following information applies to the questions displayed below.] Christmas Anytime issues $720,000 of 6% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Calculate the issue price of a bond and complete the first three rows of an amortization schedule when: Problem 9-7B Part 2 2. The market interest rate is 7% and the bonds issue at a discount. (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. Round your answers to nearest whole dollar.) Issue price Date Cash Paid Interest Expense Change in Carrying Value Carrying Value 01/01/2021 06/30/2021 12/31/2021
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! Required information [The following information applies to the questions displayed below.] On January 1, 2024, Coney Island Entertainment issues $1,500,000 of 6% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assume that the market interest rate is 6% and the bonds issue at face amount. Required: 1a. Calculate the issue price of a bond. 1b. Complete the first three rows of an amortization schedule. (FV of $1, PV of $1, FVA of $1, and PVA of $1)
! Required information [The following information applies to the questions displayed below.] On January 1, 2024, Coney Island Entertainment issues $1,500,000 of 6% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assume that the market interest rate is 7% and the bonds issue at a discount. 2a. Calculate the issue price of a bond. 2b. Complete the first three rows of an amortization schedule. (FV of $1, PV of $1, FVA of $1, and PVA of $1)
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