Hillier Electron Microscopes Inc. issued $73,000,000 in eight-year bonds to finance the expansion of its electron...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Hillier Electron Microscopes Inc. issued $73,000,000 in eight-year bonds to finance the expansion of its electron microscope manufacturing facility in Brantford, Ontario. The bonds pay 6% interest semi-annually and were issued at 88.348 to yield 8%. Amortiza Balance Carrying tion of Bond Value of Interest Interest of Bond Discount Bonds Date Payment Expense Discount $Enter a $Enter a Issuance dollar dollar amount. amount. $Enter a $Enter a $Enter a Enter a Enter a Payment dollar dollar dollar dollar dollar 1 amount. amount. amount. amount. amount. Enter a Enter a Enter a Enter a Payment dollar dollar dollar dollar 2 amount. amount. amount. amount. Prepare the related journal entries for the first two interest payments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the атount Round an. vers to 0 decimal places, e.a. 125.) What is the carrying value of the bonds one year after issuance (that is, after the second semi-annual payment)? (Round answers to 0 decimal places, e.g. 125.) Hillier Electron Microscopes Inc. issued $73,000,000 in eight-year bonds to finance the expansion of its electron microscope manufacturing facility in Brantford, Ontario. The bonds pay 6% interest semi-annually and were issued at 88.348 to yield 8%. Amortiza Balance Carrying tion of Bond Value of Interest Interest of Bond Discount Bonds Date Payment Expense Discount $Enter a $Enter a Issuance dollar dollar amount. amount. $Enter a $Enter a $Enter a Enter a Enter a Payment dollar dollar dollar dollar dollar 1 amount. amount. amount. amount. amount. Enter a Enter a Enter a Enter a Payment dollar dollar dollar dollar 2 amount. amount. amount. amount. Prepare the related journal entries for the first two interest payments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the атount Round an. vers to 0 decimal places, e.a. 125.) What is the carrying value of the bonds one year after issuance (that is, after the second semi-annual payment)? (Round answers to 0 decimal places, e.g. 125.)
Expert Answer:
Answer rating: 100% (QA)
Answer Part 1 Interest Payment Amortization of Bala... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Letters - shell script Write a command to sort the lines of a given file alphabetically(as it would appear in a dictionary). The file will be streamedinto your bash script as standard input.
-
During 2018, Sweet Breeze Spa reported revenue of $21,000. Total expenses for the year were $8,000. Sweet Breeze Spa ended the year with total assets of $45,000, and it owed debts totaling $16,000....
-
Jack exchanges property worth $100,000 ($30,000 basis) for 70% of the stock. Janet owned 100% of the company before the company transferred 70% to Jack for his property. Immediately after the...
-
The matrix A below has λ = 2 as an eigenvalue. Find the geometric multiplicity of λ = 2 using your calculator only for row-reducing matrices. 18-15 33 -151 -4 8-6 6 9-16...
-
List some sources of input data.
-
In Problem 5, calculate the conditional probability mass function of Y1 given that (a) Y2 = 1; (b) Y2 = 0. Problem 5 Repeat Problem 3a when the ball selected is replaced in the urn before the next...
-
Find the future value of (1) a single payment of $5,000 at 7 percent for ten years, (2) ten annual payments of $500 at 7 percent, (3) a single payment of $1,500 at 9 percent for seven years, and (4)...
-
What is a Eurodollar? If a French citizen deposits $10,000 in Chase Manhattan Bank in New York, have Eurodollars been created? What if the deposit is made in Barclays Bank in London Chase Manhattans...
-
please send me answer of this question within 10 min i will give you like sure.send me typed answer only. C A 8m tall fence runs parallel to the side of a house 3m away. What is the length of the...
-
Norr and Caylor established a partnership on January 1, 2019. Norr invested cash of $100,000 and Caylor invested $30,000 in cash and equipment with a book value of $40,000 and fair value of $50,000....
-
Ex. 3 Calculate Ax and AB for the quantities given below. Is the product BA equal to AB? 2 1 2 A =| -1 1 3 1 2 1 ;B =| 3 7 2 3 3 5 x = -2 3 5 3 Then compute the outer product X of x with itself; it...
-
All five basic approaches to creating multi - divisional organizations are based on some form of what?Explain
-
With the merger of Sears and Kmart, diversification has been unsuccessful as a corporate-level strategy. This type of diversification was considered related; however, what was the purpose of...
-
What competencies and skills are critical for a successful mediator in high-stakes conflict resolution, and how can these be developed and assessed ?
-
My topic is pran potato biscuits successful expansion in india. As pran is a Bangladeshi company, they maybe sell same product in india market.is they have any change in their product for india...
-
Explain how the product life cycle is similar to the phases people go through in life. Be specific. Explain how social media can generate publicity for a company. Be specific and use an example in...
-
A job shop has four departments milling ?(M), drilling? (D), sawing? (S), and assembly ?(A)assigned to four work areas. The operations? manager, Sergio? Barba, has gathered the following d
-
The percentage of completion and completed contract methods are described in the FASB ASC. Search the codification to find the paragraphs covering these topics, cite them, and copy the results.
-
The articles of incorporation of Curtis Airlines Co. authorized 5 million common shares. The company originally issued 3.75 million common shares. However, over the years the company had repurchased...
-
Lyrtricks Ltd., which has a December 31 year end, had the following transactions in December 2020 and January 2021: 2020 Dec. 1 The company borrowed $100,000 from a bank on a five-year loan payable....
-
Manitoba Manufacturing Inc. (MMI) has a loan from the Canadian National Bank to help finance its working capital. The terms of the loan are that the bank will lend MMI an amount up to 33% of its...
-
Two items are omitted from each of the following summaries of balance sheet and income statement data for two corporations for the year 2006, Craig Corporation and Holly Enterprises. Instructions...
-
The following information relates to Karin Weigel Co. for the year 2006. Instructions After analyzing the data, prepare an income statement and a retained earnings statement for the year ending...
-
Griswold Inc.. a public camping ground near the Boundary Waters Canoe Area, has compiled the following financial information as of December 31. 2006. Instructions (a) Determine Griswold's net income...
Study smarter with the SolutionInn App