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help me please 1 2 3 = The Peg Corporation (TPC) issued bonds and received cash in full for the issue price. The bonds were
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1 2 3 = The Peg Corporation (TPC) issued bonds and received cash in full for the issue price. The bonds were dated and issued on January 2021. The stated interest rate was payable at the end of each year. The bonds mature at the end of four years. The following schedule has been prepared amounts in thousands): Date Cash Interest Amortization Balance January 1, 2021 $ 6,914 End of year 2021 $ 510 $ 481 $ 29 ? End of year 2022 510 ? 6,857 End of year 2023 510 > 29 6,829 End of year 2024 510 480 30 6,300 Required: 1. Complete the amortization schedule. TIP: The switch in amortization from $29 to $30 in the final year is caused by rounding. 2. What was the maturity amount (face value) of the bonds? 3. How much cash was received at date of issuance of the bonds? 4. Was there a premium or a discount? If so, which and how much was it? 5. How much cash is paid for interest each period and will be paid in total for the full life of the bond issue? 6. What is the stated interest rate? 7. What is the market interest rate? 8. What amount of interest expense should be reported on the income statement each year? 9-o. How would the bonds be classified at end of 2022 and 2023? 9-b. At what net amount would they be reported? Complete this question by entering your answers in the tabs below. Reg Reg 5 Heg 6 Fle Re90 Reg 9 Reg 1 Req3 Reg 2 Reg4 from an in the final yened by rounding LE ULUS 3. How much cash was received at date of issuance of the bonds? 4. Was there a premium or a discount? If so, which and how much was it? 5. How much cash is paid for interest each period and will be paid in total for the full life of the bond issue? 6. What is the stated interest rate? 7. What is the market interest rate? 8. What amount of interest expense should be reported on the income statement each year? 9-6. How would the bonds be classified at end of 2022 and 2023? 9-b. At what net amount would they be reported? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Reg 4 Reg 5 Reg 6 Req 7 Red 8 Reg 9A Reg 95 Complete the amortization schedule. TIP: The switch in amortization from $20 to $30 in the final year is caused by rounding (Enter your answers in thousands. Round your intermediate calculations and final answers to 2 decimal places.) Cash Interest Amortization Balance $ 6,014 510 481 Date January 1, 2021 End of Year 2021 End of Year 2022 End of Year 2023 End of Year 2024 510 29 29 29 30 510 6,857 6,820 6.800 510 480 Reg 2 > Req 1 Req 2 Req 3 Reg 4 What was the maturity amount (face value) of the calculations and final answers to 2 decimal places. Maturity Amount Complete this question by entering your answers in the tabs below. Reg 8 Reg Reg 9 Red 98 Reg 1 Reg 3 Reg 2 Reg 5 Reg 6 Reg 4 How much cash is paid for interest each period and will be paid in total for the full life of the bond issue? (Enter your answer in thousands.) Interest Each Period Total Interest > 8. What amount of interest expense should be reported on the income statement each year? 9-a. How would the bonds be classified at end of 2022 and 2023? 9-b. At what net amount would they be reported? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req3 Reg 4 Reg 5 Reg 6 Red 7 Reg 8 Reg 9 Reg 98 What is the market interest rate? (Round your intermediate calculations to 2 decimal places and final answer to the nearest whole percent.) % Market Interest Rate What net amount would they be reported? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Reg 4 Reg 5 Reg 6 Req 7 Reg 8 Reg 9A Reg 98 What amount of interest expense should be reported on the income statement each year? (Enter your answers in thousands Round your intermediate calculations and final answers to 2 decimal places.) Year Interest Expense 2021 2022 2023 2024 Complete this question by entering your answers in the tabs below. Req 1 Reg 2 Reg 3 Reg 4 Reg 5 Reg 6 Reg 7 Reg 8 Reg 9A Reg 98 How would the bonds be classified at end of 2022 and 2023? 2022 2023 The bonds would be classified as Step by Step Solution
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