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Need answers for the following, Hartford Research issues bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. The bonds
Need answers for the following,
Hartford Research issues bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. The bonds have a $40,000 par value and an annual contract rate of 10%, and they mature in 10 years. (Table B.1, Table B.2, Table B.3, and Table B.4) (Use appropriate factor(s) from the tables provided. Round all table values to 4 decimal places, and use the rounded table values in calculations.) Required: Consider each of the following three separate situations. 1. The market rate at the date of issuance is 8% (a) Complete the below table to determine the bonds' issue price on January 1, 2017 (b) Prepare the journal entry to record their issuance. 2. The market rate at the date of issuance is 10% (a) Complete the below table to determine the bonds' issue price on January 1, 2017. (b) Prepare the journal entry to record their issuance. 3. The market rate at the date of issuance is 12% (a) Complete the below table to determine the bonds' issue price on January 1, 2017 (b) Prepare the journal entry to record their issuance. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Required 3A Required 3B Complete the below table to determine the bonds' issue price on January 1, 2017, if the market rate at the date of issuance is 8%. Table values are based on: n = i = Present Value Cash Flow Table Value Amount Par (maturity) value Interest (annuity) Price of bonds Complete this question by entering your answers in the tabs below. Required 1A Required 2A Required 2B Required 3B Required 1B Required 3A Prepare the journal entry to record their issuance, if the market rate at the date of issuance is 8% View transaction list Journal entry worksheet January 1, Record the issue of bonds with a par value of $40,000 cash 2017. Assume that the market rate of interest at the date of issue is 8%. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01, 2017 Record entry View general journal Clear entry Required: Consider each of the following three separate situations. 1. The market rate at the date of issuance is 8%. (a) Complete the below table to determine the bonds' issue price on January 1, 2017 (b) Prepare the journal entry to record their issuance 2. The market rate at the date of issuance is 10% (a) Complete the below table to determine the bonds' issue price on January 1, 2017. (b) Prepare the journal entry to record their issuance. 3. The market rate at the date of issuance is 12%. (a) Complete the below table to determine the bonds' issue price on January 1, 2017 (b) Prepare the journal entry to record their issuance Complete this question by entering your answers in the tabs below. Required 2A Required 2B Required 3A Required 1A Required 1B Required 3B Complete the below table to determine the bonds' issue price on January 1, 2017, if the market rate at the date of issuance is 10%. Table values are based on: n = Present Cash Flow Table Value Amount Value Par (maturity) value Interest (annuity) Price of bonds Required 1B Required 2B > (b) Prepare the journal entry to record their issuance. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2B Required 3B Required 2A Required 3A Prepare the journal entry to record their issuance, if the market rate at the date of issuance is 10% View transaction list Journal entry worksheet January 1, Record the issue of bonds with a par value of $40,000 cash 2017. Assume that the market rate of interest at the date of issue is 10% Note: Enter debits before credits. Credit Date General Journal Debit Jan 01, 2017 Record entry Clear entry View general journal (D) Prepare the journal entry to record thelr Issuance. 2. The market rate at the date of issuance is 10% (a) Complete the below table to determine the bonds' issue price on January 1, 2017. (b) Prepare the journal entry to record their issuance. 3. The market rate at the date of issuance is 12% (a) Complete the below table to determine the bonds' issue price on January 1, 2017. (b) Prepare the journal entry to record their issuance. Complete this question by entering your answers in the tabs below. Required 1B Required 2A Required 2B Required 1A Required 3A Required 3B Complete the below table to determine the bonds' issue price on January 1, 2017, if the market rate at the date of issuance is 12%. Table values are based on: n Table Value Present Value Cash Flow Amount Par (maturity) value Interest (annuity) Price of bonds Required 2B Required 3B> Required 1A Required 1B Required 3A Required 3B Required 2A Required 2B Prepare the journal entry to record their issuance, if the market rate at the date of issuance is 12%. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $40,000 on January 1, 2017. Assume that the market rate of interest at the date of issue is 12%. Note: Enter debits before credits. General Journal Date Debit Credit Jan 01, 2017 Record entry Clear entry View general journal Required 3A Required 3BStep by Step Solution
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