3 of 5 (1 complete) ollowing data on December 31, Year 1 (end of the fiscal year): thod and pays all interest amounts at December 31. Data Table Note 6. Indebtedness Bonds payable, 3% due on December 31, Year 8 Less: Discount Notes payable, 7%. payable in $50,000 annual installments starting in Year 5 $2,000,000 ? ? 300,000 Print Done nd then continue to the next question. MacBook Air i Requirements a. 1. Assume the market interest rate is 7% on January 1 of year 1, the date the bonds are issued. Using the PV function in Excel, what is the issue price of the bonds? b. What is the maturity value of the bonds? What is Alliance's annual cash interest payment on the bonds? d. What is the carrying amount of the bonds at December 31, year 1? 2. Prepare an amortization table through December 31, Year 4 for the bonds. How much is Alliance's interest expense on the bonds for the year ended December 31, Year 4? 3. Show how Alliance would report these bonds and notes payable at December 31, Year 4. c. Print Done The notes to the Aliance Ltd. financial statements reported the following data on December 31, Year 1 (end of the fiscal year): (Click the icon to view the financial statement data.) Alliance amortizes bond discounts using the effective-interest method and pays all interest amounts at December 31. Read the equirements Requirement 1. Assume the market interest rate is 7% on January 1 of year 1, the date the bonds are issued. (Round your answers to the nearest whole dollar.) a. Using the PV function in Excel, what is the issue price of the bonds? The issue price of the bonds is $ b. What is the maturity value of the bonds? The maturity value of the bonds is $ c. What is Alliance's annual cash interest payment on the bonds? The annual cash interest payment is $ d. What is the carrying amount of the bonds at December 31, year 1? The carrying amount of the bonds at December 31, Year 1 is $ The noted to the Alliance Ltd. financial statements reported the following data on December 31, Year 1 (end of the focal year); (Click the icon to view the financial statement data.) Aliance amortizes bond discounts using the effective interest method and pays all interest amounts at December 31 Read the wiremen Requirement 2. Prepare an amortization table through December 31, Year 4 for the bonds. How much is Alliance's interest expense on the bonds for the year ended December 31, Year 4? Begin by preparing the amortization table through December 31, Year 4 for the bonds. (Round your answer to the nearest whole dollar) Alliance Ltd. Amortization Table Discount Account Annual Interest Date Jan 1, Y 1 Interest Payment Interest Expense Discount Amortization Bond Carrying Amount Balance Dec 31, Yr 1 Dec 31, Yr 2 Dec 31 Y 3 Dec 31, Yr 4 Choose from any list or enter any number in the input fields and then continue to the next question The notes to the Alliance Ltd. financial statements reported the following data on December 31, Year 1 (end of the fiscal year) (Click the icon to view the financial statement data.) Alliance amortizes bond discounts using the effective-interest method and pays all interest amounts at December 31. Read the requirements How much is Alliance's interest expense on the bonds for the year ended December 31, Year 4? S Requirement 3. Show how Alliance would report these bonds and notes payable at December 31, Year 4. Liabilities Less: Total long-term liabilities Choose from any list or enter any number in the input fields and then continue to the next question. Less: Total long-term liabilities Total liabilities The notes to the Alliance Ltd. financial statements reported the following E: (Click the icon to view the financial statement data.) Alliance amortizes bond discounts using the effective-interest method ar Read the requirements. how MUTTU MUTLULUPUU Oru vous y or CTU Requirement 3. Show how Alliance would report these bonds and notes Liabilities Bonds payable Current liabilities: Current portion of notes payable Discount on bonds payable Interest expense Long-term liabilities: Notes payable Total liabilities Choose from any list or enter any number in the input fields and then cont 3 of 5 (1 complete) ollowing data on December 31, Year 1 (end of the fiscal year): thod and pays all interest amounts at December 31. Data Table Note 6. Indebtedness Bonds payable, 3% due on December 31, Year 8 Less: Discount Notes payable, 7%. payable in $50,000 annual installments starting in Year 5 $2,000,000 ? ? 300,000 Print Done nd then continue to the next question. MacBook Air i Requirements a. 1. Assume the market interest rate is 7% on January 1 of year 1, the date the bonds are issued. Using the PV function in Excel, what is the issue price of the bonds? b. What is the maturity value of the bonds? What is Alliance's annual cash interest payment on the bonds? d. What is the carrying amount of the bonds at December 31, year 1? 2. Prepare an amortization table through December 31, Year 4 for the bonds. How much is Alliance's interest expense on the bonds for the year ended December 31, Year 4? 3. Show how Alliance would report these bonds and notes payable at December 31, Year 4. c. Print Done The notes to the Aliance Ltd. financial statements reported the following data on December 31, Year 1 (end of the fiscal year): (Click the icon to view the financial statement data.) Alliance amortizes bond discounts using the effective-interest method and pays all interest amounts at December 31. Read the equirements Requirement 1. Assume the market interest rate is 7% on January 1 of year 1, the date the bonds are issued. (Round your answers to the nearest whole dollar.) a. Using the PV function in Excel, what is the issue price of the bonds? The issue price of the bonds is $ b. What is the maturity value of the bonds? The maturity value of the bonds is $ c. What is Alliance's annual cash interest payment on the bonds? The annual cash interest payment is $ d. What is the carrying amount of the bonds at December 31, year 1? The carrying amount of the bonds at December 31, Year 1 is $ The noted to the Alliance Ltd. financial statements reported the following data on December 31, Year 1 (end of the focal year); (Click the icon to view the financial statement data.) Aliance amortizes bond discounts using the effective interest method and pays all interest amounts at December 31 Read the wiremen Requirement 2. Prepare an amortization table through December 31, Year 4 for the bonds. How much is Alliance's interest expense on the bonds for the year ended December 31, Year 4? Begin by preparing the amortization table through December 31, Year 4 for the bonds. (Round your answer to the nearest whole dollar) Alliance Ltd. Amortization Table Discount Account Annual Interest Date Jan 1, Y 1 Interest Payment Interest Expense Discount Amortization Bond Carrying Amount Balance Dec 31, Yr 1 Dec 31, Yr 2 Dec 31 Y 3 Dec 31, Yr 4 Choose from any list or enter any number in the input fields and then continue to the next question The notes to the Alliance Ltd. financial statements reported the following data on December 31, Year 1 (end of the fiscal year) (Click the icon to view the financial statement data.) Alliance amortizes bond discounts using the effective-interest method and pays all interest amounts at December 31. Read the requirements How much is Alliance's interest expense on the bonds for the year ended December 31, Year 4? S Requirement 3. Show how Alliance would report these bonds and notes payable at December 31, Year 4. Liabilities Less: Total long-term liabilities Choose from any list or enter any number in the input fields and then continue to the next question. Less: Total long-term liabilities Total liabilities The notes to the Alliance Ltd. financial statements reported the following E: (Click the icon to view the financial statement data.) Alliance amortizes bond discounts using the effective-interest method ar Read the requirements. how MUTTU MUTLULUPUU Oru vous y or CTU Requirement 3. Show how Alliance would report these bonds and notes Liabilities Bonds payable Current liabilities: Current portion of notes payable Discount on bonds payable Interest expense Long-term liabilities: Notes payable Total liabilities Choose from any list or enter any number in the input fields and then cont