Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Dashboard Technologies Ltd. issued bonds with a face value of $60,000,000 that mature in 15 years. The bonds carry a 6.0% Interest rate and are

image text in transcribed
image text in transcribed
image text in transcribed
Dashboard Technologies Ltd. issued bonds with a face value of $60,000,000 that mature in 15 years. The bonds carry a 6.0% Interest rate and are sold at 106.11 to yield 5.40%. The bonds pay interest semi-annually (a) Your answer is correct Complete the first four payments of the bond amortization schedule below (Round answers to decimal places, eg. 125.) Interest Payment Date Interest Expense Amortization of Bond Premium Issuance Payment 1 S 1800000 S 1718982 $ 81018 Payment 1000000 1716795 83205 Payment 3 1800000 1714548 85452 Payment 4 1800000 1712241 87750 Dashboard Technologies Ltd, issued bonds with a face value of $60,000,000 that mature in 15 years. The bonds carry a 6.0% interest rate and are sold at 106.11 to yield 5.40%. The bonds pay interest semi-annually (a) Your answer is correct Complete the first four payments of the bond amortization schedule below (Round answers to decimal places, eg. 125.) Interest Expense Amortization of Bond Premium Balance of Bond Premium Carrying Value of Bonds $3.666,000 S63,666,000 1718982 s 81018 3584982 63584982 1716705 83205 3501777 63501777 1714548 85452 3416324 63416324 1712241 87759 3328565 63328565 What is the carrying value of the liability for these bonds at the end of payment 4? (Round answers to decimal places, eg. 125 Carrying Value of the Bonds $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started