Question
Bonds - Excel Project Complete your work in Excel using formulas. Situation: BU Curriculum Corporation issued $800,000 of 9% bonds on September 1, 2021, due
Bonds - Excel Project
Complete your work in Excel using formulas.
Situation:
BU Curriculum Corporation issued $800,000 of 9% bonds on September 1, 2021, due on September 1, 2026. The interest is to be paid twice a year on March 1 and September 1. The bonds were sold to yield 12% effective annual interest. BU Curriculum Corporation closes its books annually on December 31.
(a) Complete an amortization schedule for the above bond (for all periods) in a similar format as below using Excel. There should only be formulas in your table - NO hardcoded numbers. You can round to the nearest dollar or penny. Use the effective-interest method.
Date | Credit Cash | Debit Interest Expense | Credit Bond Discount | Carrying Amount of Bonds |
Sep. 1, 2021
|
Use the NPV or PV formula in Excel; see posted bond excel sheet in the classroom | |||
Mar. 1, 2022 ....continue schedule (use Excel) |
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