Required information [The following information applies to the questions displayed below.] On January 1, 2021, White Water issues $460,000 of 5% bonds, due in 15 years, with interest payable annually on December 31 each year. Assuming the market interest rate on the issue date is 6%, the bonds will issue at $415,326. Required: 1. Complete the first three rows of an amortization schedule. (Round your final answers to the nearest whole dollar.) Answer is complete but not entirely correct. Cash Date Paid Interest Expense Increase in Carrying Value Carrying Value 01/01/2021 $460,000 $ 12/31/2021 $ 27,600 $ (4,600) 464,600x 460,000 12/31/2022 464,600 x 27,876 (4,876) 469,476
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- Required information [The following information applies to the questions displayed below.] On January 1, 2024, White Water issues $530,000 of 6% 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 5%, the bonds will issue at $596,522. Required: 1. Complete the first three rows of an amortization schedule. (Round your final answers to the nearest whole dollar.) Date 01/01/2024 06/30/2024 12/31/2024 Cash Paid Interest Expense Change in Carrying Value Carrying ValueRequired information [The following information applies to the questions displayed below.] On January 1, 2024, White Water issues $600,000 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 $559,229. Required: 1. Complete the first three rows of an amortization schedule. (Round your final answers to the nearest whole dollar.) Date Cash Paid Answer is complete but not entirely correct. Carrying Change in Carrying Value Value Interest Expense 01/01/2024 06/30/2024 $ 42,000 $ 12/31/2024 42,000 X 44,738 $ 44,519 X 2,738 x 2,519 X $ 559,229 561,967 X 564,486 XRequired 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 12/31/21
- Required information [The following information applies to the questions displayed below.] On January 1, 2021, Splash City issues $310,000 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 $283,405. 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 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.] 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 [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 12/31/21
- [The following information applies to the questions displayed below.] On January 1, 2021, Splash City issues $450,000 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 6%, the bonds will issue at $483,476. Required: 1. Complete the first three rows of an amortization table for 1/1/21, 6/30/21, 12/31/21On January 1, 2021, a company issues $720,000 of 8% bonds, due in twelve years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 9%, the bonds will issue at $667,816.Required:1. Fill in the blanks in the amortization schedule below: (Round your answers to the nearest dollar amount. Enter all amounts as positive values.) Date Cash Paid Interest Expense Change in Carrying Value Carrying Value 01/01/2021 06/30/2021 12/31/2021 2. Record the bond issue on January 1, 2021, and the first two semi-annual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) Record the bond issue on January 1, 2021. Date General Journal Debit Credit January 01, 2021…Required information [The following information applies to the questions displayed below.) On January 1, 2024, Splash City issues $300,000 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 $279,615. Required: 1. Complete the first three rows of an amortization schedule. (Round your intermediate and final answers to the nearest whole dollar.) Cash Paid Interest Expense Change in Carrying Carrying Value Date Value 1/1/2024 6/30/2024 12/31/2024
- 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 ValueOn January 1, 2021, Splash City issues $400,000 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 9%, the bonds will issue at $367,422. Exercise 9-8A Part 1 1. Complete the first three rows of an amortization table. (Round your intermediate and final answers to the nearest whole dollar.)On January 1, 2024, White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at $559,740. Exercise 9-17 (Static) Part 1 Required: 1. Complete the first three rows of an amortization schedule. (Hint: Use Illustration 9–6, except the dates for the first three rows will be 1/1/2024, 12/31/2024, and 12/31/2025 since interest is payable annually rather than semiannually. Interest expense for the period ended December 31, 2024, is calculated as the carrying value of $559,740 times the market rate of 8%.) Date Cash Paid Interest Expense Change in Carrying Value Carrying Value 01/01/2024 $559,740selected answer correct 12/31/2024 $42,000selected answer correct $44,779selected answer correct $2,779selected answer correct 562,519selected answer correct 12/31/2025 42,000selected answer correct 45,001selected answer…