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ovided below. Note that given the formating of the infor Mo's Motor Corp. issued $ 380,000 of 7%, 5-year bonds on April 1, 2021. Interest
ovided below. Note that given the formating of the infor Mo's Motor Corp. issued $ 380,000 of 7%, 5-year bonds on April 1, 2021. Interest is payable semi-annually on April 1 and October 1 On April 1.2023. Immediately after making and recording the semi-annual interest payment. Mo's redeemed the bonds Below is a partial amortization schedule for the first few years of the bond issues Mo's Motor Corp. Bond Discount Amortization Schedule Bond Interest interest Amortized Interest Period Payment Expense Amortization Cost 01 Apr 2021 $36-4,509.30 01 Oct 2021 $13.300.00 $14.583.57 $1.283.52 365.87287 01 Apr 2022 13.300.00 14,634.91 1,33401 367,207.78 01 Oct 2022 13,500.00 14.668.31 1,388.31 368.596.09 01 Apr 2023 13.300.00 14.74384 1.443.34 370.039.93 sing the above WileyPlus question please enter the appropriate information from the question into the appropriate boxes below Data from the Wileylus Ansignment Question 2 Date of the bod is used All items in the parts below MUST be call forced to your data to the local forms for all amounts including Face amount of bond Using the above WileyPlus question please enter the appropriate information from the question into the appropriate boxes below: Data from the Wiley Plus Assignment Question 2 Date of the bond is based All Home in the purta below MUST be call referenced to your data to the lat. Us Excel Face amount of bond formules for all amounts including dates Coupon statedrale Term of the bond in years) Selling (sun) price of the band Calculate the market rate of interest for this bond (Round your answer to 2 decimal places... 2.75%) I marks Check the calculation for the interest rate on the bond using the Excel RATE function and the bond information from the question Bonus i mark Starting with April 1, 2021, prepare and complete the bond amortization schedule CALCULATE ALL CELL AMOUNTS USING FORMULAS- do not retype the amounts from above. (3 mark Amount of amortition Date of payment Interest Payment Interest Expense of discount or premium Bond at Amortized Cost b in this schedule MUST bellraferent to your data above Use Excel formules for all amounts including dates D Starting with April 1, 2021, peopare and complete the bond amortization schedule CALCULATE ALL CELL AMOUNTS USING FORMULAS do not retype the amounts from above (3 marks Amount of amortition Date of payment Interest Payment Interest Expense of discount or premium Bond at Amortized Cost All items in the schedule MUST be call forced to your data above. U formulas for all amounts including des -5 7 09 50 51 Calculate the welling price of the bonds as a percentage of face value-Was the bond sold at a premium or discount? (Round your answer to 2 decimal places... 2.75%) 2 marks 52 35 56 57 Prepare the journal entry to record the lasuance of the lands and the first interest payment. (6 marks) Date Account Name Debit Credit Prepare the journal entry to record the issuance of the Bonds and the first interest payment (4 marks) Date Account Name Debit Credit Prepare the journal entry required at December 31, 2022 assuming this the company's year and [3 marks) and the entry at April 1, 2023 [3 marks) Date Account Name Debut Cred Demonstrate what would be reported on the Balance sheet of the Company at December 31, 2022 with respect to these bonds be very specific with respect to classification, account names and amounts that would be reported. (4 marks) 13 24 5 96 77 78 J9 30 1 32 Demonstrate what would be reported on the Balance sheet of the Company at December 31, 2022 with respect to these bonds be very specific with respect to classification, account names and amounts that would be reported. (4 marks) 34 BS 87 88 59 90 91 92 93 04 95 96 07 98
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