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A B C D E F G H I On January 1, 2019 Omsk Corporation issued 60,000 of 9% bonds, due in 5 years. Bonds
A B C D E F G H I On January 1, 2019 Omsk Corporation issued 60,000 of 9% bonds, due in 5 years. Bonds pay interest each July 1 and January 1. Assume 7% market rate of interest Requirements (Round to 0 decimals, Rounding errors do not matta): 1. Compute market price of bonds. Provide detailed computation. 2. What is an amount of discount /premium? Indicate, what it is (discount or premium). Computation. - 3. Prepare amortization schedule. Use formulas in Excel. You can use template provided below. 4. Prepare journal entry to record bond issue. 3 5. Prepare journal entry on July 1, 2019. 6. Prepare journal entry on December 31, 2019. LO 7. Prepare journal entry on January 1, 2020 11 12 13
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