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im not sure if my answers are correct, can i get some help? thank you CP 10-8 (Appendix) Night Owl Distributors Ltd. was authorized to
im not sure if my answers are correct, can i get some help? thank you
CP 10-8 (Appendix) Night Owl Distributors Ltd. was authorized to issue $500,000 of 12% bonds on January 1, 2019. On this date, the corporation issued $200,000 of bonds for $210,152. The market rate of interest was 10%. Interest is paid semi-annually on June 30 and December 31. Required: 1. Calculate the amount of interest paid every interest payment date. 2. Complete the amortization table below using the effective interest method of amortization. Issuance of $200,000 Bonds Payable for $210,152 Amortization Table Using Market Interest Rate of 10% A B E Using 10% market rate (A-D) Beginning to calculate (B-C) Ending bond six- month Cash Periodic bond Period carrying interest expense interest premium carrying Year ending amount ([12 of 10% = 5%] x A) paid amortization amount 2019 Jun. 30 $210,152 (5% x $210,152) = $10,507 Dec. 31 (5% x ) 2020 Jun. 30 (5% x Dec. 31 (5% x 2021 Jun. 30 (5% Dec. 31 (5% x Step by Step Solution
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