Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I cant come to the right answers on this help would be much appreciated. Thank you:) Required information [The following information applies to the questions
I cant come to the right answers on this help would be much appreciated. Thank you:)
Required information [The following information applies to the questions displayed below) PowerTap Utilities is planning to issue bonds with a face value of $2,700,000 and a coupon rate of 8 percent. The bonds mature in 10 years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. PowerTap uses the effective interest amortization method. Assume an annual market rate of interest of 10 percent. (EV_of $1.py of $1. FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) Required: 1. What was the issue price on January 1 of this year? (Round your final answers to nearest whole dollar amount.) Issue price [The following information applies to the questions displayed below) PowerTap Utilities is planning to Issue bonds with a face value of $2,700,000 and a coupon rate of 8 percent. The bonds mature in 10 years and pay Interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. PowerTap uses the effective interest amortization method. Assume an annual market rate of Interest of 10 percent. (FV of $1. PV of $1. FVA of $1. and PVA of $1) (Use the appropriate factor(s) from the tables provided.) 4. What is the book value of the bonds on June 30 and December 31 of this year? (Round your final answers to nearest whole dollar amount.) December 31 June 30 2,373,696 Bonds payable Several years ago, Nicole Company issued bonds with a face value of $1,200,000 for $1.045,000. As a result of declining interest rates, the company has decided to call the bond at a call premium of 6 percent over par. The bonds have a current book value of $1,166,000. Record the retirement of the bonds without using a discount account. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View Journal entry worksheet Transaction Debit Credit No 1 General Journal Bonds payable Loss on bond call Discount on bonds payable Cash 106,000 Future Value of Annuity of $1 Periods 1.0% 3.0% 3.75% 4,05 4.25% 5.0 SON 7.09 100000 206000 318350 1 100000 2 201000 303010 4 4.06040 5 5.10101 6.15202 7 7.21354 8 8.28567 9 9.36853 10 10.46221 Future Vase of Annuity of $1 Periods 1.0 1.00000 202000 3.06040 412161 5.20404 6.30812 7.43428 858297 9.75463 10.94972 1.00000 2.00000 3.09090 4.18363 5.30914 6,46841 7.66246 8.89234 10.15911 11.46388 1.00000 2.03750 211391 4.23068 5.38933 6.59143 783861 9.13255 10.47503 11.86784 100000 204000 312160 424646 5.41632 6,63290 789820 9.21423 1058280 12.00611 1.00000 204250 212931 4.26230 5.46345 6.67480 795840 9.29671 10.69102 12.16622 1.00000 205000 215250 431013 5.52563 680191 8.14201 9.54911 1102656 12.57789 563709 697532 2014 9.39747 11.45132 1218079 100000 207000 321090 1994 5.75074 7.15320 255402 10.25980 11.97799 1331545 2.0% 3.0% 4.0% 4.259 SON 7.01 # + 11 11.56683 12.68250 13.80933 149-4742 15 16.09690 17.25736 17 18.43044 18 19.61475 19 20.81030 20 22.01900 25 2824320 30 34.78489 Future Value of Annuity of $1 Periods ON 16 12.16872 13.41209 14.68033 15.97394 17.29342 18 63929 20.01207 21.41231 22.84056 24.29737 3203030 40 56808 3.75% 13.31288 14.81212 16.36757 1798135 19.65565 21.39274 23.19497 25.06478 27.00471 29.01739 40.22112 53.79924 12.80780 14. 19203 15,61779 17.00632 18.59891 20.15688 21.76159 23.41414 25. 11687 26.87037 3645926 4757542 13.48635 1502581 16.62684 18.29191 20.02359 21.82453 23.69751 2564541 2767123 29.77808 41.64591 56.08494 1366244 1524309 16.89092 1860879 209966 22.26665 24 21290 26.24203 28.35732 30.56250 07648 58.48553 14.20679 15.91713 1771298 19.59863 2157856 22 65709 25.84037 28.13230 30 5900 33.06595 47.72710 66.RS 1497164 162694 3214 2101507 23.27597 25.67253 2021200 30-90565 32799 36.78550 SE5451 79.05819 1578360 1768845 2014054 22.5506 212902 27 SOS 30 84022 33.99903 3237096 40.99545 63.20504 9446079 9.05 10.05 11.09 12.05 13.0% 16.0% 10000 220000 264000 5.36000 7.44160 1.00000 210000 231000 4.54100 6.10510 771561 9.48717 11.43589 13.57948 1593742 100000 2.11000 3.34210 4.70973 6.22780 7.91286 9.78327 118594 14.16397 16.72201 1.00000 2.12000 3.37440 4.77933 6.35285 8.11519 10.08901 12.29969 14.77556 17.56874 100000 2.13000 3.000 4.54980 6,45027 3.32271 10.40466 1275726 15.41571 18:41975 1.00000 214000 3.43560 492114 6.61010 8.53552 10.73049 13.23276 16.08535 19.33730 100000 2.15000 3.47250 499337 6.74238 8.75374 11 06680 12.72582 16.78584 20.10372 25. 1.00000 2 25000 3.81250 5.76583 8.20703 112829 15.07348 1291500 15.09900 207909 25.50 25 20272 10.08 11.0 12.09 13.03 14.03 15.0 1 100000 100000 2 2.08000 209000 3 3.24640 3.27810 250611 57313 5.86660 5.98471 7.33590 752333 8.92280 9.20043 H 1063663 1102847 9 12.48756 13.02104 10 14.45656 15.19293 Future Value of Annuity of 51 Perioda 2.0 9.ON 11 5664545 17.56029 12 1897713 2014072 13 21,49530 22.95338 14 24.21492 26.01919 15 27.15211 29.36092 30.32428 33.00340 17 2375020 3697370 18 37.45024 4130134 19 41.44626 46.01846 20 45.76196 51.16012 25 73.10594 84 10090 -30 113,28321 136.30754 20.0% 32.15042 358050 . 18.53117 21.38428 2452221 27.97490 31.77240 35.94973 4054470 4559817 5115909 57.27500 98.34706 164 49402 19.56143 22.71319 26.21164 30.09492 3440536 39.1995 4150084 50.39994 5693949 64.20283 11441331 199.02068 20.65458 24.13313 28.02911 32.39260 3727971 42.75328 4838367 55 74971 0343968 7205244 13333387 24173268 2181432 25.65018 2950470 3488271 40:41746 36.67173 53.73906 6172514 70.74941 8094585 15561956 29.3.19922 23.04452 27.27075 32.00 37.50107 43021 5058035 5511750 689400 7523 9102490 1187005 356.78585 24 302 29.00167 3435193 40.50-471 47.58041 5571747 6507500 75835 082111 102.46 212.79302 3474515 7200513 22.4200 30593056 1211667 15474000 106.53800 010108 11518157 25. 25663 5420260 3755 869647 109 664 118.10555 12351568 204460 2735556 329600 1054791 32211702 7.0% 2.09 3.09 5.09 5.05 3.75% Present Value of $1 Periods 1.09 1 0.99010 2 098030 3 0.97059 4 0.96098 $ 0.95147 6 0.94205 2 0.93272 3 0.92348 9 0.91434 10 090529 Present Value of $1 Periods 1.0% 0.98039 0.96117 094232 0.92385 0.90573 088797 087056 0.85349 0.83676 0.82035 0.97087 0.94260 091514 0.88849 0.86261 0.83748 081309 0.78941 0.76642 0.74409 0.96386 0.92902 0.89544 0.36307 0.83188 0.80181 0.77283 0,74490 0.71797 0.69202 0.96154 0.92456 088900 0.85430 0.82199 0.79031 0.75992 0.73069 0.70259 0.67556 0.95923 0.92013 0.88252 0.84653 081212 0.77901 0.74725 0.71679 0.68757 0.65954 0.95238 0.90703 0.86384 0.82270 0.78352 0.74622 0.71068 0.67684 0.64461 0.61391 0.94340 0.89000 0.83962 0.79209 0.74726 0.70496 066506 062741 0.59190 055839 093458 0.87344 0.81630 0.76290 0.71299 056634 0.62275 058201 0.54393 050835 2.0 7.01 3.0% 3.75% 5.05 4.09 6.09 0 B0426 0.78849 0.77303 0.75788 0.74301 0.72845 0.71416 0.70016 0.68543 0.67297 060953 0.55207 0.72242 0.70139 068095 0.66112 0.64186 0.62317 0.60502 0.58739 0.57029 055368 0.47761 0.41199 0.66701 0.64290 0.61966 0.59726 0.57563 055487 0.53481 0.51543 0.49685 0.47889 0.39838 0.33140 0.64958 062450 060057 057748 0.55526 0.53391 0.51337 049363 0.47464 0:45699 0.37512 0.30832 0.63265 0160686 058212 055839 0.53562 0.51379 0.49284 0.47275 0.45348 0.83499 0.35326 0.28689 0.58468 0.55684 053032 050507 0.48102 0.45811 0.40630 0.41552 0.39573 0.37589 0.29530 0.23138 0.52679 0.49697 0.46884 0.44230 0.41727 0.39365 0.37136 0.35034 0.33051 031180 0.23300 0.17411 0.47509 0.44401 0.41496 038782 0.36245 0.33873 0.31657 0.29586 0.27651 0.25842 0.18425 0.13137 11 0.89632 12 0.88745 13 0.87866 14 0.86996 15 086135 16 0.85282 17 0.84438 18 0.83602 19 0.82774 20 0.81954 25 0.77977 30 0.74192 Present Value of $1 Periods 0.ON 1 0.92593 2 0.15734 3 0,79383 0.73503 5 0.68058 6 0.63017 7 0.58349 B 0.54027 9 0.50025 10 0.46319 5.0% 10.0% 11.0% 12.05 13.0% 15.0% 20.0% 25.0% 0.91743 0.84168 0.77218 0.70843 0.64993 0.59627 0.54703 0.50187 0.46043 0.42241 0.90909 0.82545 0.75131 0.68301 0,62092 0.56447 0.51316 0.46651 0.42410 0.38554 0.90090 081162 0.73119 0.65873 59345 053464 0.48166 0.43393 0.39092 0.35218 0.89286 0.79719 0.71178 0.63552 0.56743 050663 0.45235 0.40388 36061 032197 0.88496 078315 0.69305 061322 0.54276 0.48032 0.42506 0:37616 033288 0.29459 14.05 0.87719 0.76947 0.67497 0.59208 0.51907 0.45559 0.19954 0.35056 0.30751 0.26974 0.86957 0.75614 0.65752 057175 0.49718 0.43233 0.37594 0.32690 0.28426 0.24718 0.83333 0.69444 0.57870 0.48225 0,40183 033490 0.27908 0.23257 019381 0:16151 0.80000 064000 051200 0.40950 0.32768 0.26214 0.20972 0.16777 0.13422 0.10737 Present Value of $1 Periode 8.0% 9.ON 10.0% 11.0% 12.0% 140 15.09 20.09 25.0% 12 13 14 15 16 17 18 19 120 25 0.42883 0.39711 0.36770 034046 0.31524 0.29189 0.27027 0.25025 023171 0.21455 0.14602 0,09938 0,38753 0.35553 0.32618 0.29925 0.27454 0.25187 0.23107 0.21199 0.19449 0.1784 0.11597 0.07537 0.35049 0.31863 0.28966 0.26333 0.23939 0.21750 019784 0.17986 0.16351 0.1604 009230 0.05731 031728 0.28584 0.25751 0.23199 0.20900 0.18829 0.16963 0.15282 0.13760 0.12403 007361 004360 0.28768 0.25668 0.22917 0.26462 0.18270 0.16312 0.14564 0.13004 0.11611 0.10367 005382 0.03330 13.05 0.26070 0.23075 0.20416 18068 0.15909 0.14150 0.12522 0.11081 0.09800 0:08578 004710 0.02557 023662 0.20756 0.18207 0.15971 0.14010 0.12299 0.10780 0.09456 0.08296 0.07276 0.03779 0.01953 021494 0.18691 0:16253 0.14133 0.12289 0.10686 0.09233 0.0001 0.07027 0.06110 0.03038 0.01510 0.13459 0.11216 0.09346 0.07789 006491 005409 0.04502 0.03756 0.93130 0.02608 0.01043 0.00421 0.06590 0.06872 0.05498 001398 003518 0.02815 002252 201801 0.01441 001153 0.00378 0.00124 Future Value of $1 Periods 1.09 3.0% 4.05 3.0 2.04 4.255 6.09 7.09 9 2 3 4 5 101000 102010 1.03030 1.04060 105101 106152 1,07214 108286 1.09369 1.10462 102000 104040 106121 1,08243 1.10400 1.12616 1.14309 1.17166 1.19509 121899 103000 1.06090 109273 112551 1.15927 1.19405 1.22987 126677 1.30472 1.34392 3.755 1.03750 1.07641 1.11677 1.15855 1.20210 1.24718 1.29395 1.34247 1.39281 1.44504 1.04000 1.08 160 112486 1.16986 1.21665 1.26532 1.31593 136857 1.42331 1.45024 104250 108681 1.13300 118115 1.23135 1.28368 1.33824 1.39511 1.45440 1.51621 105000 1.10250 1.15763 121551 1.27628 1.34010 1.40710 1.47745 155133 162889 106000 1.12360 1.19102 1.25248 1.33823 141852 1.50353 159085 1.68948 179085 107000 1.14490 122504 131080 1.40255 150073 1.60575 171819 183846 196715 8 9 10 Future Value of $1 Paris 1.09 20 3.0 3.75% 4.21 5.ON 5. 7.09 11 12 13 14 15 16 17 18 19 20 25 30 1.11567 1.12683 1.13809 1.14947 1.15097 1.17258 1.13430 1.19615 120811 122019 1.2820 1.34785 124337 1.26824 1.29351 1.31948 1.34582 137279 140024 1.42825 1.45681 1.43595 164061 181136 1.38423 142576 146853 1.51259 1.55797 160471 165285 1.70243 1.75351 180611 209378 2.42726 1.49923 1.55545 161378 167430 1.73709 1.80223 186981 1.97993 201268 208815 2.51017 301747 4.0% 153945 1.60103 166507 1.73168 1.80094 1.87298 1.94790 202582 2.10685 219112 266584 3.24340 158065 164703 1.71785 1.79087 1.86699 194633 2.02905 211529 2.20519 2.29891 203075 3.48564 171034 1.79586 188565 197993 207893 2.18287 2.29202 2.40662 2.52695 265330 3.38535 432194 189830 201220 211293 226090 239655 254035 269277 285434 3.02560 3.20714 4.29187 5.74349 2.10485 225279 2.40985 2.57853 275003 295216 3.1502 331990 3.61653 186968 5.42743 7.61226 9.05 11.05 12.05 13.0% 16.0 20.0 25.09 10.0% 1.10000 121000 133100 146410 161051 1.77156 1.94872 2.14359 2.35795 259374 109000 1.18810 1.29503 141158 1.53862 167710 182804 199256 2.17189 236736 1.20000 144000 72800 207360 2.48832 1.11000 1.23210 136763 1.51807 168506 187041 207616 2.30454 2.55804 2.83942 1.12000 1.25400 1.40493 157352 175234 197302 221060 2.47596 277308 3.10585 1.13000 1.27690 1.44290 163047 1.84244 2.08195 2.35261 2.65844 3,00404 3.39457 1.14000 1.29960 148154 168896 1.92541 2.19497 250227 285259 3.25195 3.70722 15.0 115000 132250 15200 1.74901 201136 2.31306 2.66002 305007 351788 404556 1.25000 1.56250 195313 2.44141 2.05176 3.81470 47637 5.96046 7.45058 9.31323 25818 4.2932 515978 6.15174 Future Value of $1 Periods 3.0 1 100000 2 1.16640 3 1.25971 1.36049 5 1.46933 6 158687 7 1713 8 1.85093 9 199900 10 2.15892 Future Value of $1 Periods B.OS 11 233164 12 2.51817 271962 14 2.93719 15 3.17217 16 3.42594 12 3.70002 TB 399602 19 471579 4.66096 25 636845 30 10.06206 0.0 10.0% 11.ON 12 ON 13.0% 14.ON 15.0% 2.58043 281266 3.06580 2.34173 2.64248 397031 432763 4.71712 5.14166 5.60441 ILOZIO 13.26768 235312 2.13843 3.45227 3.79750 4.17225 4.59497 505447 5.55992 611591 672750 10.83471 17.44340 315176 3.49845 3.88328 431044 478459 531089 5.89509 654355 7.26334 8.06231 13.58546 22.09230 347855 3.89598 4.36349 4.88711 5.47357 6,13039 686604 7.68997 8.61276 9.64639 17.00006 20.95932 3.83586 433452 4.89801 553475 625427 706730 7.98600 902021 10.19742 11.52300 21.23054 3511590 422623 48170 5.49241 6.26135 7,13794 13725 9.27646 1057511 12.05509 1174349 26.48192 5095016 455239 5.35025 6.15270 7,01571 13706 935762 10.79120 12:17545 1423177 636554 201295 66.21173 143008 391610 10.69932 12.5391 15.49702 14 22.18611 2562333 3194800 38 33750 95.3622 23737691 11.64153 14.55192 18.00 22.73737 2842171 3552714 40892 55 51115 69.35 36.73617 26669780 302.9352 Presentade of Anunty ! Periode 1.09 2.0 3.0% 3.75 40% SON SON 0.99010 2 197040 29409 390197 485343 5.79548 6.72819 7.65168 8.56602 9.47130 Present Value of Annuity of $1 Periods 1.09 0.98039 194155 2.88388 380773 471346 5.60143 6.47199 7.32548 8.16224 8.98259 0.97087 191347 262861 3.71710 457971 5.41719 6.23028 7.01909 7.78611 853020 0.96336 189201 2.78831 3.65130 4.48333 528507 6.05290 6.80230 752027 821279 0.95154 1. 2.77509 3.6290 45182 524214 6.00205 0.95923 1.37936 276198 3.60861 442073 5.19974 594699 6.66378 735135 801089 0.95238 1.85941 2.72325 354595 432943 5.07569 5.78637 6.46321 7.10782 7.72173 0.94340 183309 267301 3.46511 421236 491732 5.58238 6.20979 6.80169 736009 7.0% 093456 1 80802 2.62432 3.38721 4.10020 4.76654 538929 5.97130 6.51523 7.02358 7.43530 8.11090 2.0% 3.75% SON 5.ON 7.ON 11 1036763 9.78585 12 11.25508 10.57534 13 12.13374 1134807 14 1300370 12.10625 15 13.86505 12.84926 16 1471787 13:57771 17 15 55225 1429187 18 1639827 1499200 19 17.22601 15.67846 20 18.04555 16.35143 25 22.02316 19.52346 30 25.80771 2239646 Present Value of Annuity of $1 Periods 0.0 9.25262 9.95400 10.63490 1129507 11.93794 12.56110 13.16612 13.75351 1432380 14.87747 17.41315 19.60044 8.87979 9.52269 10.14236 10.73952 11.31530 1187017 12.40490 12.92045 13.41731 13.09620 16.04320 17.2925 2.76041 938507 9.98565 1056312 11.11039 1165230 12.16567 12.65330 8.64354 9.25039 983251 10.39090 10.92652 11.44031 11.93315 12.40590 12.85938 13.29437 15.21734 16.71902 30641 8.86325 939357 9.89854 10.37966 1083777 11 27007 1168959 12.08332 12.46221 14.09294 15.37245 7.38587 8.38384 8.85263 9.29490 9.71225 10.10590 10.47726 1082760 11.15812 11.46992 12.78335 13.76483 7.49867 7.94265 835765 8.74547 9.10791 9.44665 9.76322 10.05909 10.33560 10.59401 11.65358 12.40904 13.59033 15.62208 17.29200 9.0 10.05 11.09 13.05 14.0% 15.0% 20.0% 25.0 1 0.92593 091743 2 1.78326 1.75911 3 2.57710 253120 4 3.31213 323972 5 3.99271 3.88965 6 462288 448592 7 520637 5.03295 8 5.74664 5.53482 9 624689 599525 10 6.71000 6.41766 Present Value of Annuity of $1 Periodo 8.07 9.05 0.90909 1.73554 248685 3.16987 3.79079 435526 486842 5.33493 5.75902 6.14457 090090 171252 24671 3.10245 369590 423054 471220 5.14612 553705 5923 12.05 0.89286 169005 2.40130 303735 3.60476 411141 456376 496764 $32825 5.65022 03396 166810 2.35115 29747 3.51723 3.994 442261 75017 5.13166 087719 1.64566 2.32163 291371 243300 388867 4.28830 463805 494637 521692 0.36957 152571 2.28323 235498 335216 3.78448 416042 4.48732 4.77158 501877 0.83333 1.52778 210648 258873 2.99061 332551 3.60459 3.83716 4,03097 4.19247 0.80000 144000 195200 235160 268928 2.95142 3.16114 3.32891 246313 3.57050 100% 11.0 120 13.03 14.ON 15.09 20.0% 25.05 11 12 13 14 15 16 12 18 19 20 25 30 7.13896 753608 790178 24624 E55948 885137 9.12164 937109 2.60360 9.81815 1067470 1125778 6 80519 7.16073 7.48690 7.78615 8.00068 3.31256 6.49506 6.81365 7.10336 736669 7.50608 7.62371 B02155 8 20141 836482 8.51356 9,07704 9.42691 354363 6.20052 6,49236 6.74987 698187 7 19087 7.37916 7.54879 7.70162 733923 7.96333 842174 6379 593770 6.19437 6.42355 66217 681086 697203 7.11953 724957 7.578 7.46944 7.54314 305518 5.68694 591765 6.12181 630249 23 65038 672905 682091 6.93797 702015 2.299 7.49545 5.45273 5,56029 5.34235 600207 5.14217 5.26506 5.37285 6.46742 655032 6.62313 697293 7.00266 523373 5.42062 558315 5.72448 5.84737 595423 6.04216 612797 6.1982) 6.25933 6.46415 6.56598 4.32704 443922 453268 461057 467547 472956 4.77463 481219 44350 4.86958 494759 4.971 3,65540 3.72512 1.78010 382408 1.85925 3.88741 3.90993 392794 394235 2.95381 3.98409 3.99505 8.75563 8 95011 9.12855 9.87250 10,27365 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started