Citywide Company issues bonds with a par value of $65,000. The bonds mature in nine years...
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Citywide Company issues bonds with a par value of $65,000. The bonds mature in nine years and pay 10% annual interest in semiannual payments, The annual market rate for the bonds is 8%. (lable B1 Iable B.2. Inble B3 ond Iable B4) (Use appropriate factor(a) from the tables provided.) 1. Compute the price of the bonds as of their issue date. 2. Prepare the journal entry to record the bonds' issuance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the price of the bonds as of their issue date, (Round intermediate cakculatins to the nearest dollar amount.) Table Values are Based on: 4.0% Cash Flow Table Value Amount Present Value Par (maturity) value Interest (annuty) Price of bonds $ 65.000 Journal entry worksheet 1 Record the issuance of the bonds for cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Citywide Company issues bonds with a par value of $65,000. The bonds mature in nine years and pay 10% annual interest in semiannual payments, The annual market rate for the bonds is 8%. (lable B1 Iable B.2. Inble B3 ond Iable B4) (Use appropriate factor(a) from the tables provided.) 1. Compute the price of the bonds as of their issue date. 2. Prepare the journal entry to record the bonds' issuance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the price of the bonds as of their issue date, (Round intermediate cakculatins to the nearest dollar amount.) Table Values are Based on: 4.0% Cash Flow Table Value Amount Present Value Par (maturity) value Interest (annuty) Price of bonds $ 65.000 Journal entry worksheet 1 Record the issuance of the bonds for cash. Note: Enter debits before credits. Transaction General Journal Debit Credit
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Solution 1 to 3 Par Maturity Value Semiannual Rate 102 5 Semian... View the full answer
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Posted Date:
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