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Help needed please. I included some of my work, but I am unsure if it is correct. Please and thank you :) Use the present
Help needed please. I included some of my work, but I am unsure if it is correct.
Please and thank you :)
Use the present value tables to calculate the issue price and make the journal entry of a $100,000 bond issue in each of the following independent cases. Assume that the bond was issued on January 1, 2010, and that interest is paid semi-annually on June 30 and December 31. [Need help] For problem 10 please do the following: . Find the selling price of the bond in dollars. Find the selling price of the bond as a percentage. Make the journal entry to record the sale of the bond on January 1, 2010. Prepare the amortization table for 2010, 2011 and 2012. Make the journal entries to record interest payments for the year 2011. . . On December 31, 2012, the bond was redeemed at $96,000. Make the journal entry to record the redemption. Instead of redeeming at $96,000, the bonds were redeemed at $106,000. Make the journal entry to record the redemption. C) A 10-year, 10 percent bond issue; the market interest rate is 8 percent. Cash flow Table Value Amount PV Maturity value 100,000 0.4564 45,640 Interest (Annuity) 5,000 13.5903 67,952 Price of bonds 113,592 Jan 1 Cash A/C 113,592 13,592 To premium on bonds payable A/C 100,000 To bonds payable A/CStep by Step Solution
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