6 Part 3 of 3 Coney Island Entertainment issues $1,300,000 of 7% bonds, due in 15...

Transcribed Image Text:

6 Part 3 of 3 Coney Island Entertainment issues $1,300,000 of 7% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Calculate the issue price of a bond and complete the first three rows of an amortization schedule when: 3.16 points 3. The market interest rate is 6% and the bonds issue at a premium. (FV of $1. PV of $1. FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Round your answers to nearest whole dollar.) Answer is complete and correct. Issue price $ 1,427,418 > Answer is complete but not entirely correct. Cash Date Paid Interest Expense Change in Carrying Carrying Value Value 1/1/2021 6/30/2021 12/31/2021 $ 1,427,418 $ 45,500 ( $ 45,500 42,823 42,742 $ 2,677 x 1,424,741 2,758 1,421,983 6 Part 3 of 3 Coney Island Entertainment issues $1,300,000 of 7% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Calculate the issue price of a bond and complete the first three rows of an amortization schedule when: 3.16 points 3. The market interest rate is 6% and the bonds issue at a premium. (FV of $1. PV of $1. FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Round your answers to nearest whole dollar.) Answer is complete and correct. Issue price $ 1,427,418 > Answer is complete but not entirely correct. Cash Date Paid Interest Expense Change in Carrying Carrying Value Value 1/1/2021 6/30/2021 12/31/2021 $ 1,427,418 $ 45,500 ( $ 45,500 42,823 42,742 $ 2,677 x 1,424,741 2,758 1,421,983