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On May 1, 2017, Sheridan Ltd. issued a series of bonds in order to raise money for some upcoming projects. The bonds had a face
On May 1, 2017, Sheridan Ltd. issued a series of bonds in order to raise money for some upcoming projects. The bonds had a face value of $5,758.000 and matured in 10 years. Interest was payable at a face rate of 4% each April 30 and October 31. The bonds were issued to yield 5.5%. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. (a-b) Calculate the issue price of the bonds. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Issue Price $ Prepare a bond discount/premium amortization table. (Round answers to 0 decimal places, eg. 5,275.) Date Cash Paid Interest Expense Amortized 1-May-2017 Discount Premium 31-Oct-2017 $ $ 30-Apr-2018 Date Cash Paid Interest Expense Amortized 1-May-2017 31-Oct-2017 $ $ $ $ 30-Apr-2018 31-Oct-2018 30-Apr-2019 31-Oct-2019 30-Apr-2020 31-Oct-2020 30-Apr-2021 31-Oct-2021 30-Apr-2022 31-Oct-2022 30-Apr-2023 31-Oct-2023 30-Apr-2024 31-Oct-2024 30-Apr-2020 31-Oct-2020 30-Apr-2021 31-Oct-2021 30-Apr-2022 31-Oct-2022 30-Apr-2023 31-Oct-2023 30-Apr-2024 31-Oct-2024 30-Apr-2025 31-Oct-2025 30-Apr-2026 31-Oct-2026 30-Apr-2027 $ $ $
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