Refer to the information above for Haley Industries. Haley Industries issued $120,000 of 11%, 7-year bonds on
Question:
Refer to the information above for Haley Industries.
Haley Industries issued $120,000 of 11%, 7-year bonds on January 1, 2020, with a $5,842 premium. Interest is paid annually on December 31. The market rate of interest is 10%.
Required:
Prepare the amortization table using the effective interest rate method.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 85% (7 reviews)
Premium Premium Cash Interest on Bonds on Bonds Payment a Expense b ...View the full answer
Answered By
Atuga Nichasius
I am a Highly skilled Online Tutor has a Bachelor’s Degree in Engineering as well as seven years of experience tutoring students in high school, bachelors and post graduate levels. I have a solid understanding of all learning styles as well as using asynchronous online platforms for tutoring needs. I individualise tutoring for students according to content tutoring needs assessments.
My strengths include good understanding of all teaching methods and learning styles and I am able to convey material to students in an easy to understand manner. I can also assists students with homework questions and test preparation strategies and I am able to help students in math, gre, business , and statistics
I consider myself to have excellent interpersonal and assessment skills with strong teaching presentation verbal and written communication
I love tutoring. I love doing it. I find it intrinsically satisfying to see the light come on in a student's eyes.
My first math lesson that I taught was when I was 5. My neighbor, still in diapers, kept skipping 4 when counting from 1 to 10. I worked with him until he could get all 10 numbers in a row, and match them up with his fingers.
My students drastically improve under my tutelage, generally seeing a two grade level improvement (F to C, C to A, for example), and all of them get a much clearer understanding!
I am committed to helping my students get the top grades no matter the cost. I will take extra hours with you, repeat myself a thousand times if I have to and guide you to the best of my ability until you understand the concept that I'm teaching you.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Cost Accounting questions
-
Refer to the information in P20-3. In P20-3 On January 1, 2017, Hunter Ltd. entered into an agreement to lease a truck from Situ Ltd. Both Hunter and Situ use IFRS 16. The details of the agreement...
-
Refer to the information in P203. In P On January 1, 2011, Hunter Ltd. entered into an agreement to lease a truck from Situ Ltd. Both Hunter and Situ use IFRS. The details of the agreement are as...
-
Refer to the information in Exercise. In Exercise Hospitable Co. provides the following sales forecast for the next four months: The company wants to end each month with ending finished goods...
-
The American Society for Quality (ASQ) conducted a salary survey of all its members. ASQ members work in all areas of manufacturing and service-related institutions, with a common theme of an...
-
Using the Hund rules, write the spectral symbol of the basic term of the atom whose only partially filled sub shell (a) Is filled by 1/3, and S = t; (b) Is filled by 70%, and S = 3/2.
-
What is the role of randomization in a designed experiment? If you were conducting a completely randomized design with three treatments and 90 experimental units, describe how you would randomly...
-
What guidance does the principle of conservatism offer?
-
Answer the following questions. a. Which department is responsible for initiating the purchase of materials? b. What is the name of the document generated by the department identified in (a) above?...
-
12 would like to purchase a partnership interest from T1. At the time of the purchase. T1's outside basis in the partnership interest is $20,000, which includes $3,000 of liabilities of the...
-
Phil Williams and Liz Johnson are 60% and 40% partners, respectively, in Williams & Johnson Partnership. Their beginning basis is $33,000 for Phil and $31,000 for Liz. The partnership had the...
-
Refer to the information for Crafty Corporation on the previous page. Crafty Corporation received $472,088 of cash upon issuance of 500 $1,000 par value bonds. Each bond has a stated rate of 5% and...
-
Refer to the information above for Haley Industries. Haley Industries issued $120,000 of 11%, 7-year bonds on January 1, 2020, with a $5,842 premium. Interest is paid annually on December 31. The...
-
What are some of the questions that Balter and his team should ask themselves about their audience before making their presentation or writing their proposal?
-
You're working on a software product that lists out reviews for nearby restaurants. The product owner for your team wants to put most of the resources into graphic design. They feel that if the...
-
Cash flow table Year Cash Flow 2014 $1,500,000 2015 $2,300,000 2016 $3,000,000 2017 $3,400,000 2018 $1,800,000 Calculate geometric total return Annualized rate of return Prepare a 10 year cash flow...
-
A company has Rs 4 per year carrying cost on each unit of inventory, an annual usage of 50,000 units and an ordering cost of Rs 100 per order. Calculate the economic order quantity. What shall be the...
-
2. Excap Corporation's predetermined overhead rate is calculated based on direct labour hours. At the beginning of the year, the total number of direct labor hours was estimated to be 14,400 hours...
-
Sunland, Inc. management is considering purchasing a new machine at a cost of $4,390,000. They expect this equipment to produce cash flows of $845,890, $819,250, $917,830, $1,103,400, $1,093,260, and...
-
A two-stage air compressor has an intercooler between the two stages, as shown in Fig. P10.35. The inlet state is 100 kPa, 290 K, and the final exit pressure is 1.6 MPa. Assume that the constant...
-
A stock has had returns of 8 percent, 26 percent, 14 percent, 17 percent, 31 percent, and 1 percent over the last six years. What are the arithmetic and geometric average returns for the stock?
-
Beautiful Meadows Golf Company manufactures a popular line of golf clubs. Beautiful Meadows Golf employs 173 workers and keeps their employment records on time sheets that show how many hours the...
-
Fallon Communications, Inc., is preparing its cash budget for 2011. Fallon ended 2010 with cash of $82 million, and managers need to keep a cash balance of at least $81 million for operations....
-
Assume Dans Drums borrowed $19 million from Need It Now Bank and agreed to (a) Pay an interest rate of 7.1% (b) Maintain a compensating balance amount equal to 5.8% of the loan. Determine Dans Drums...
-
Kumara Corporation reported pretax book income of $1,530,000. Kumara also reports an increase in the taxable temporary differences of $327,500, an increase in the deductible temporary differences of...
-
Slumlord Floyd is getting a lot of complaints from tenants about how little care he takes of his rental property. Floyd ends up having several deductions disallowed under the Substandard Housing...
-
Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual system to account for merchandise inventory. February 2 Wrote a $360 check to...
Study smarter with the SolutionInn App