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Only solve for 2 and 3a-c!!!!!! (I don't need answer 1 of 3d) Issue price = $3,456,387 P9-54A. (Learning Objectives 2, 3, 6 Issue convertible
Only solve for 2 and 3a-c!!!!!! (I don't need answer 1 of 3d)
Issue price = $3,456,387
P9-54A. (Learning Objectives 2, 3, 6 Issue convertible bonds at a discount, amortize using the effective-interest method, and convert bonds: regnrr bonds payable on the balance sheer) On December 31.201 S. Mainland issues 6%. I O-year convertible bonds payable With a face value Of The semiannual interest dates are June 30 and December 31. The market interest rate is Mainland amortizes bond discounts using the effective-interest method. Requirements I. Use the PV function in Excel to calculate the issue price of the bonds. 2. Prepare an effective-interest method amortization table for the term Of the bonds using 3. Journalize the following transactions: a. Issuance Of the bonds on December 31. 2018. Credit Convertible Bonds Payable. b. Payment Of interest and amortization Of the discount on June 30. 2019. c. Payment Of interest and amortization Of the discount on December 31.2019. d. Conversion by the bondholders on July I. 2020. Of With a total face value Of SI. 600.000 into 80.000 shares Of Mainland's S I-Dar common stock. I-02.3.6 P9-54A. (Learning Objectives 2, 3, 6 Issue convertible bonds at a discount, amortize using the effective-interest method, and convert bonds: regnrr bonds payable on the balance sheer) On December 31.201 S. Mainland issues 6%. I O-year convertible bonds payable With a face value Of The semiannual interest dates are June 30 and December 31. The market interest rate is Mainland amortizes bond discounts using the effective-interest method. Requirements I. Use the PV function in Excel to calculate the issue price of the bonds. 2. Prepare an effective-interest method amortization table for the term Of the bonds using 3. Journalize the following transactions: a. Issuance Of the bonds on December 31. 2018. Credit Convertible Bonds Payable. b. Payment Of interest and amortization Of the discount on June 30. 2019. c. Payment Of interest and amortization Of the discount on December 31.2019. d. Conversion by the bondholders on July I. 2020. Of With a total face value Of SI. 600.000 into 80.000 shares Of Mainland's S I-Dar common stock. I-02.3.6
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