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2 On January 1, 2018 Slava Corporation issued 3 Bonds pay interest each July 1 and January 1. 160,000 of 5% bonds, due in 6
2 On January 1, 2018 Slava Corporation issued 3 Bonds pay interest each July 1 and January 1. 160,000 of 5% bonds, due in 6 years. Assume 9 % market rate of interest. 5 Requirements (Round to 0 decimals): 6 1. Compute market price of bonds. Provide detailed computation. 7 If there is no appropriate column in the Table, use the closest to what you need. Indicate Interest rate you used. 8 2. Indicate, what it is (discount or premium). What is an amount? Provide computation 9 3 . Prepare amortization schedule. Use formulas in Excel 10 4. Prepare journal entry to record bond issue. 11 5. Prepare journal entry on July 1, 2018 12 6. Prepare journal entry on December 31, 2018. 13 7. Prepare journal entry on January 1, 2020 14 8. What is amount of Interest Expense for 2018. 15 Your name and Solving
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