Need to find net income for this question as well
Mail - S X W St. Loui X In Course x a Amazor X BL JBL Pul X & Uber vs X Look U X Ellucian x In Fall 202 x [Solved X Cengac X . table_9 x . table_9 x MindTa x Orders x | C A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false NO Chapter 10 eBook Calculator 1. EX. 10.01 Issue Price 2. EX. 10.02.ALGO The following terms relate to independent bond issues: a. 540 bonds; $1,000 face value; 8% stated rate; 5 years; annual interest payments K. 10.03.AL b. 540 bonds; $1,000 face value; 8% stated rate; 5 years; semiannual interest payments c. 900 bonds; $1,000 face value; 8% stated rate; 10 years; semiannual interest payments d. 1,810 bonds; $500 face value; 12% stated rate; 15 years; semiannual interest payments 4. EX. 10.04 Use the appropriate present value table: 5. EX. 10.06 PV of $1 and PV of Annuity of $1 6. EX. 10.12 Required: 7. PR. 10.01.ALGO Assuming the market rate of interest is 10%, calculate the selling price for each bond issue. If required, round your intermediate calculations and final answers to the nearest dollar. Situation Selling Price of the Bond Issue 8. EX. 10.10 d. b C. Feedback Check My Work 1) Face value of the bonds is the maturity amount of the bonds as indicated on the face of the bond contract. 2) Face rate of interest is the amount of interest that will be paid on the bonds as indicated in the bond contract. 3) n = periods, i = annual market rate of interest/periods per year. Bonds typically pay interest twice a year. Progress: 3/8 items Check My Work Previous Next Assignment Score: 59.25% All work saved. Email Instructor Save and Exit Submit Assignment for GradingMail - S X W St. Loui X In Course x a Amazor X BL JBL Pul x & Uber vs X Look U X Ellucian X In Fall 202 x [Solved X Cengac X table_9 x table_9 x MindTa x | Order s x | C # v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false NO Chapter 10 eBook Calculator 1. EX. 10.01 Redemption of a Bond at Maturity 2. EX. 10.02.ALGO On March 31, 2017, Sammonds Inc. issued $250,000 face value bonds at a discount of $7,000. The bonds were retired at their maturity date, March 31, 2027. Required: K.10.03.AL Assuming that the last interest payment and the amortization of the discount have already been recorded, calculate the gain or loss on the redemption of the bonds on March 31, 2027. Identify and analyze the 4. EX. 10.04 effect of the redemption of the bonds. How does this entry affect the accounting equation? 5. EX. 10.06 If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. 6. EX. 10.12 7. PR. 10.01.ALGO Balance Sheet Income Statement Stockholders' 8. EX. 10.10 Assets Liabilities + Equity Revenues Expenses Cash v Bonds Payable V No Entry v No Entry Feedback Check My Work Since the bonds are fully matured, the carrying value equals the face value and there will be no gain or loss on the redemption of the bonds. Progress: 5/8 items Check My Work Previous Next Assignment Score: 59.25% All work saved. Email Instructor Save and Exit Submit Assignment for Grading
