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can someone please help in providing the solutions for these three questions 3. ER issued $ 2,000,000, 9%, long-term bond payable for $1,900,000 cash on
can someone please help in providing the solutions for these three questions 3. ER issued $ 2,000,000, 9%, long-term bond payable for $1,900,000 cash on January 1, 2019. The bond matures in many years. Interest is payable semi-annually on January 1 and July 1. What is the carrying value of the bonds on the date of issuance? A. $2,180,000 B. $2,000,000 C. $1,900,000 D. Cannot answer; the bond term and market interest rate are not given 4. Additional features about the bond issued in question 3 is as the following. The bonds can be called by the issuer at $98 on any interest payment date after December 31, 2023. The unamortized bond discount was $28,000 on December 31, 2021, and the market price of the bonds was $94 on this date. On its December 31, 2021, balance sheet, at what amount should ER report the carrying value of the bonds? A. $1,960,000 B. $2,028,000 C. $1,972,000 D. $1,880,000 E. Cannot be determined. 5. $5,000 (face value) of bonds with a book value of $4,300 was retired 4 years and 9 months prior to maturity. The dollar amount (excluding interest) paid to retire the bonds was $4,700. The entry to record the retirement would include: A. dr. bonds payable $5,000 B. dr. cash $4,700 C.cr, gain on bond retirement $400 D. cr bond payable $5,000
can someone please help in providing the solutions for these three questions
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