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G.) On June 1, 2022 ABC Company issued 10-year bonds with a face value of $4,000,000 and a stated interest rate of 3% payable annually
G.) On June 1, 2022 ABC Company issued 10-year bonds with a face value of $4,000,000 and a stated interest rate of 3% payable annually on May 31. The prevailing rate of interest for this type of bond at date of issuance was 4. Future value of Present value of Present value Future Present an ordinary an ordinary of an annuity Value of 1 value of 1 annuity annuity due i n 10 1.34392 0.74409 11.46338 8.53020 8.78611 3% 10 1.48024 0.67556 12.00611 8.11090 8.43533 4% 1) Calculate the issue price of the bonds. (2 points) G.) Prepare the journal entry to record the June 1, 2022 issuance of bonds on ABC Company's books. Please copy and paste and use the following text box for journal entry: (5 points) Debit Credit Account Title G. Prepare the journal entry to record the payment of interest on 5/31/25 on ABC Company's books if the company makes reversing entries, using the effective interest method of amortization of bond premium or discount. (5 points) Please copy and paste and use the following text box for journal entry. Account Title Debit Credit G. iv) Prepare the journal entry(s) for ABC for year ended 12/31/23, if any, associated with this bond. Please copy and paste and use the following text box for journal entry. (3 points) Account Title Debit Credit G. The impact on income associated with the bond in 2024 given a 20% tax rate is ? (2 point) v REC T T T Paragraph Arial 3 (12pt) T % DO QE 3 T TEST 1 Mashups - LINE DI HTML CSS
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