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Mahalo Boat Adventure Inc. has a July 31 year-end. It showed the following partial amortization schedules regarding two bond issues: Bond Issue A (A)
Mahalo Boat Adventure Inc. has a July 31 year-end. It showed the following partial amortization schedules regarding two bond issues: Bond Issue A (A) Cash (B) Period Interest (E) Carrying Interest Paid $690,000 Period Ending 9.0% - 6/12 Expense (E) 8.0% 6/12 (C) Anort. (0) Unamortized (A)-(8) Balance June 1/23 $43,675 Value $690,000+ (0) $733,675 Dec. 1/23 $31,050 $ 29,347 $1,703 41,972 731,972 Dec. 1/29. 31,050 28,323 2,727 15,358 705,358 June 1/30 31,050 28,214 2,836 12,522 702,522 Dec. 1/30 31,050 28,101 2,949 9,573 699,573 June 1/31 31,050 27,983 3,067 6,506 696,506 Dec. 1/31 31,050 27,860 3,190 3,316 693,316 June 1/32 31,050 27,734 3,316 690,000) Totals $ 558,900 $515,225 $43,675 "Adjusted for rounding (For all requirements, do not round intermediate calculations. Round the final answers to the nearest whole dollar.) Required: 1. Bond Issue A a. Were the bond A issued at a premium and/or discount? O Issued at discount O Issued at premium O Issued at premium & discount
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