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Hambelton Ltd. issued $4,000,000 of 5% bonds payable on 1 September 20X9 to yield 4%. Interest on the bonds is paid semi-annually and is payable

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Hambelton Ltd. issued $4,000,000 of 5% bonds payable on 1 September 20X9 to yield 4%. Interest on the bonds is paid semi-annually and is payable each 28 February and 31 August. The bonds were dated 1 March 20x8, and had an original term of five years. The accounting period ends on 31 December. The effective interest method is used. PV of $1. PVA of $1. and PVAD of $1.) (Use appropriate factor(s) from the tables provided.) Required: 1. Determine the price at which the bonds were issued. (Round time value factor to 5 decimal places. Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount.) 2. Prepare a bond amortization table for the life of the bond. (Round time value factor to 5 decimal places. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no cells blank be certain to enter"0" wherever required.) 3. Prepare journal entries to record the issuance of the bonds, payment of interest, and all necessary adjustments through to the end of 20X10. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Round your answers to the nearest whole dollar amount.) Journal entry worksheet 4. Calculate the interest expense that would be recorded in each of 20X9 and 20X10. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) 20x9 2 0X10 Interest expenser 5. Show how the bond would be presented on the statement of financial position as of 31 December 20X9 and 20X10. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) HAMBELTON LIMITED Statement of Financial Position (Partial) As of 31 December 20x9 2 0X10 Bonds payable Premium on bond payable $ 0 $

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