FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Spiller Corporation plans to issue 8%, 5-year, $500,000 par value bonds payable that pay interest semiannually
on June 30 and December 31. The bonds are dated January 1 of the current year and are issued on that date. (PV
of $1, FV of $1, PVA of $1, and FVA of $1)
Note: Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places and
final answers to nearest whole dollar.
If the market rate of interest for the bonds is 6% on the date of issue, what will be the total cash proceeds from
the bond issue?
Table Values are Based on:
Cash Flow
Present (maturity) value
Interest (annuity)
Total cash proceeds
n=
i =
Table Value
Amount
Present Value
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Transcribed Image Text:Spiller Corporation plans to issue 8%, 5-year, $500,000 par value bonds payable that pay interest semiannually on June 30 and December 31. The bonds are dated January 1 of the current year and are issued on that date. (PV of $1, FV of $1, PVA of $1, and FVA of $1) Note: Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places and final answers to nearest whole dollar. If the market rate of interest for the bonds is 6% on the date of issue, what will be the total cash proceeds from the bond issue? Table Values are Based on: Cash Flow Present (maturity) value Interest (annuity) Total cash proceeds n= i = Table Value Amount Present Value
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