Example:

Actual question, please answer all parts carefully

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The notes to the Helpful Ltd. financial statements reported the following data on December 31 , Year 1 (end of the fiscal year): (Click the icon to view the financial statement data.) Helpful amortizes bond discounts using the effective-interest method and pays all interest amounts at December 31. Requirement 1. Assume the market interest rate is 7% on January 1 of year 1 , the date the bonds are issued. (Round your an: a. Using the PV function in Excel, what is the issue price of the bonds? The issue price of the bonds is b. What is the maturity value of the bonds? The maturity value of the bonds is c. What is Helpful's annual cash interest payment on the bonds? The annual cash interest payment is d. What is the carrying amount of the bonds at December 31 , year 1 ? The carrying amount of the bonds at December 31 , Year 1 is Requirement 2. Prepare an amortization table through December 31, Year 4 for the bonds. (Round all amounts to the nearest Begin by preparing the amortization table through December 31, Year 4 for the bonds. (Round your answer to the nearest who How much is Helpful's interest expense on the bonds for the year ended December 31 , Year 4 ? First Place Ltd. is authorized to issue $1,500,000 of 1%,10-year bonds payable. On December 31,2021 , when the market interest rate is 8%, the company issues $1,200,000 of the bonds. First Place amortizes bond discount using the effective-interest method. The semiannual interest dates are June 30 and December 31. Read the requirements. Requirement 1. Use the PV function in Excel to calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.) The issue price of the bonds is Requirements 1. Use the PV function in Excel to calculate the issue price of the bonds. 2. Prepare a bond amortization table for the first year of the bonds. 3. Record the issuance of the bonds payable on December 31,2021 ; the first semiannual interest payment on June 30,2022 ; and the second payment on December 31, 2022