Analyzing and Reporting Financial Statement Effects of Bond Transactions On January 1 of the current year, Shields Inc. issued $800,000 of 9%, 20-year bonds for $879,171, yielding a market (yield) rate of 8%. Semiannual interest is paya June 30 and December 31 of each year, a. Show Excel inputs to confirm the bond issue price. Note: Round your answer to two decimal places. Tate nper- pmt- FV Answers b. Indicate the financial statement effects using the template for (1) bond issuance (2) semiannual interest payment and premium amortization on June 30 of the current year, and (3) semiannual interest payment and premium amortization on December 31 of the current year, Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account Category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Note: Round your answers to the nearest whole dollar. Inc Balance Sheet Liabilities Transaction Cash Asset Noncash Assets Contrib. Capital Earned Capital Revenues prot FY Answers b. Indicate the financial statement effects using the template for (1) bond issuance. (2) semiannual interest payment and premium amortization on June 30 of the current year, and (3) semiannual interest payment and premium amortization on December 31 of the current year. Note: For each account category, indicate the appropriate account name. Enter PUA" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Note: Round your answers to the nearest whole dollar. Support Income Balance Sheet Liabilities Cash Asset Noncash Assets Contrib. Capital Earned Capital Revenues Transaction 1 . 2 3. . . . . . Finish attempt. Previous Save Answers pmt = FV = Answer = $ b. Indicate the financial statement effects using the template for (1) b current year, and (3) semiannual interest payment and premium amo Note: For each account category, indicate the appropriate account na Note: Indicate a decrease in an account category by including a negati Note: Round your answers to the nearest whole dollar. Ba Transaction 1. Cash Asset Noncash Assets = > 2 Accounts payable Cash Gain on bond retirement 3 Interest expense Interest revenue Long term debt Loss on bond retirement Retained earnings NA Previous @ Save Answers SEP 28 Analyzing and Reporting Financial Statement Effects of Bond Transactions On January 1 of the current year, Shields Inc. issued $800,000 of 9%, 20-year bonds for $879,171, yielding a market (yield) rate of 8%. Semiannual interest is paya June 30 and December 31 of each year, a. Show Excel inputs to confirm the bond issue price. Note: Round your answer to two decimal places. Tate nper- pmt- FV Answers b. Indicate the financial statement effects using the template for (1) bond issuance (2) semiannual interest payment and premium amortization on June 30 of the current year, and (3) semiannual interest payment and premium amortization on December 31 of the current year, Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account Category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Note: Round your answers to the nearest whole dollar. Inc Balance Sheet Liabilities Transaction Cash Asset Noncash Assets Contrib. Capital Earned Capital Revenues prot FY Answers b. Indicate the financial statement effects using the template for (1) bond issuance. (2) semiannual interest payment and premium amortization on June 30 of the current year, and (3) semiannual interest payment and premium amortization on December 31 of the current year. Note: For each account category, indicate the appropriate account name. Enter PUA" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Note: Round your answers to the nearest whole dollar. Support Income Balance Sheet Liabilities Cash Asset Noncash Assets Contrib. Capital Earned Capital Revenues Transaction 1 . 2 3. . . . . . Finish attempt. Previous Save Answers pmt = FV = Answer = $ b. Indicate the financial statement effects using the template for (1) b current year, and (3) semiannual interest payment and premium amo Note: For each account category, indicate the appropriate account na Note: Indicate a decrease in an account category by including a negati Note: Round your answers to the nearest whole dollar. Ba Transaction 1. Cash Asset Noncash Assets = > 2 Accounts payable Cash Gain on bond retirement 3 Interest expense Interest revenue Long term debt Loss on bond retirement Retained earnings NA Previous @ Save Answers SEP 28
