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need asap Hambelton Ltd. issued $3,600,000 of 5% bonds payable on 1 September 20X9 to yield 4%. Interest on the bonds is paid semi-annually and
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Hambelton Ltd. issued $3,600,000 of 5% bonds payable on 1 September 20X9 to yield 4%. Interest on the bonds is paid semi-annually and is payable each 28 February and 31 August. The bonds were dated 1 March 20X8, and had an original term of five years. The accounting period ends on 31 December. The effective interest method is used. (PV of $1. PVA of $1, and PVAD of $1.) (Use appropriate foctor(s) from the tables provided.) Required: 1. Determine the price at which the bonds were issued. (Round time value factor to 5 decimal places. Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount.) Price of Bond 2. Prepare a bond amortization table for the life of the bond. (Round time value factor to 5 decimal places. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no cells blank - be certain to enter "0" wherever required.) Date Interest Payment Interest Expense Premium Amortization Unamortized Premium Net Bond Liability Opening 1 2 3 4 5 6 7 3.Prepare journal entries to record the issuance of the bonds, payment of interest, and all necessary adjustments through to the end of 20X10. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 1 2 3 4 5 Record the issuance of bonds at a premium. Note: Enter debits before credits. Date General Journal Debit Credit 1 September 20X9Step by Step Solution
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