Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hartford Research issues bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. The bonds have a $30,000 par value

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

Hartford Research issues bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. The bonds have a $30,000 par value and an annual contract rate of 10%. and they mature in 10 years. (Table B1, Table B.2, Table B.3, and Table B.4) (Use appropriate factor(s) from the tables provided. Round all table values to 4 decimal places, and use the rounded table values in calculations.) Required: Consider each of the following three separate situations. I. The market rate at the date of issuance is 896. (a) Complete the below table to determine the bonds' issue price on January 1, 2017 (b) Prepare the journal entry to record their issuance. 2. The market rate at the date of issuance is 10%. (a) Complete the below table to determine the bonds' issue price on January 1, 2017 (b) Prepare the journal entry to record their issuance. 3. The market rate at the date of issuance is 12%. (a) Complete the below table to determine the bonds' issue price on January 1, 2017 (b) Prepare the journal entry to record their issuance Required 1A Required 1BRequired 2A Required 2B Required 3A Required 3B Complete the below table to determine the bonds' issue price on January 1, 2017, if the 8%. Table values are based on Present Value Cash Flow Par (maturity) value Interest (annuity) Price of bonds Table Value Amount 1A Required 1B > Required 1A Required 1BReqired 2A Required 2B Required 3A Required 3B repare the journal entry to recor View transaction list Journal entry worksheet Record the issue of bonds with a par value of $30,000 cash on January 1 2017, Assume that the market rate of interest at the date of issue is 8%. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01, 2017 Record entry Clear entry View general jourmal Complete this question by entering your answers in the tabs below Required 1A Required 1BRequired 2A Required 2B Required 3A Required 3B Complete the below table to determine the bonds' issue price on January 1, 2017, if the mar 1090 Table values are based on Present Value Cash Flow Par (maturity) value Interest (annuity) Price of bonds Table Value Amount Required 1B Required 2B > Required 1A Required 1BRequired 2A Required 2B Required 3A Required 3B repare the journal entry to record their issuance, if the market rate at the date of issuance View transaction list Journal entry worksheet Record the issue of bonds with a par value of $30,000 cash on January 1, 2017, Assume that the market rate of interest at the date of issue is 10%. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01, 2017 Record entry Clear entry View general jourmal Complete this question by entering your answers in the tabs below Required 1A Required 1BReqired 2A Required 2B Required 3A Required 3B Complete the below table to determine the bonds' issue price on January 1, 2017, if the ma 12% Table values are based on Table Value Present Value Cash Flow Par (maturity) value Interest (annuity) Price of bonds Amount Required 2B Required 3B> Required 1A Required 1BRequired 2A Required 2B Required 3A Required 3B Prepare the journal entry to record their issuance, if the market rate at the date of issuance View transaction list Journal entry worksheet Record the issue of bonds with a par value of $30,000 on January 1, 2017. Assume that the market rate of interest at the date of issue is 12%. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01, 2017 Record entry Clear entry View general journal

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Students also viewed these Accounting questions