Answered step by step
Verified Expert Solution
Question
1 Approved Answer
microsoft excel effective bond interest problem very short problem just need help not familiar with excel 1. Complete the spreadsheet with account titles, formulas, and
microsoft excel effective bond interest problem very short problem just need help not familiar with excel
1. Complete the spreadsheet with account titles, formulas, and cell references as indicated. 2. Print the spreadsheet. 3. Print the formulas Name: I-Bar Co. sold bonds on January 1, 2012. The bonds pay interest on January 1 and July 1. Data relating to these bonds are as follows: Face $ 100,000 Stated Rate Effective Rate 8% 10% Issued at 92.278% Instructions: a) Calculate the Semi Annual Bond Interest Rates Annual Semi-Annual Formula Stated Rate Cell Reference Formula Effective Rate b) Calculate the Cash Received from the Bond Sale Label Label Cash Received Cell Reference Cell Reference Formula c) Prepare the journal entry to record the issuance of the bonds on January 1, 2012 01/01/12 Account title Account title Account title Cell Reference Formula Cell Reference d) Calculate the Semi-Annual Interest Payment Label Label Interest to be Paid Cell Reference Cell Reference Formula e. Prepare a bond interest and amortization schedule. When creating the cell reference for column A of the table, hit F4 after the reference but before hitting enter. Also, when entering the $Formula for column B in the table, hit F4 after referencing to the interest rate. Using F4 will allow you to lock the referencing portion of the formulas into place so you can highlight the entire row and drag it down to the end of the table. When the table is complete, you will be off by $1 in the last row of columns D and F because of rounding. 36 37 38 39 40 41 42 43 44 45 46 Date 1/1/2012 7/1/2012 12/31/2012 7/1/2013 12/31/2013 7/1/2014 12/31/2014 7/1/2015 12/31/2015 7/1/2016 12/31/2016 Effective Interest MethodSemiannual Interest Payments (A) (B) (C) (D) Interest Bond Interest Amortized Unamortized to be Expense Amount Amount Paid Semiannual Interest Periods Issue date 1 2 3 4 5 6 7 8 9 10 $cell reference $cell reference $cell reference $cell reference $cell reference $cell reference $cell reference $cell reference $cell reference $cell reference $Formula $Formula $Formula $Formula $Formula $Formula $Formula $Formula $Formula $Formula Formula Formula Formula Formula Formula Formula Formula Formula Formula Formula Cell Reference Formula Formula Formula Formula Formula Formula Formula Formula Formula Formula (E) Bond Carrying Value Cell Reference Formula Formula Formula Formula Formula Formula Formula Formula Formula Formula f) Prepare the journal entry for interest and the amortization on 7/1/2012. 07/01/12 Account title Account title Account title Cell Reference Cell Reference Cell Reference g) Show the balance sheet presentation of the Bonds Payable at December 31, 2014 Label: (this should be the section title) Account Tile Account Tile Cell Reference Cell Reference FormulaStep 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