Please answer all parts of the Q. i will thumbs up for fast answer and correct answers :)
National Orthopedics Co. Issued 11% bonds, dated January 1, with a face amount of $800,000 on January 1, 2021. The bonds mature on December 31, 2024 (4 years). For bonds of similar risk and maturity the market yleld was 12%. Interest is paid semiannually on June 30 and December 31. (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Determine the price of the bonds at January 1, 2021. 2. Prepare the journal entry to record their issuance by National on January 1, 2021. 3. Prepare an amortization schedule that determines interest at the effective rate each period. 4. Prepare the journal entry to record interest on June 30, 2021. 5. Prepare the appropriate journal entries at maturity on December 31, 2024. Required: 1. Determine the price of the bonds at January 1, 2021. 2. Prepare the journal entry to record their issuance by National on January 1, 202 3. Prepare an amortization schedule that determines interest at the effective rate 4. Prepare the journal entry to record interest on June 30, 2021. 5. Prepare the appropriate journal entries at maturity on December 31, 2024. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Determine the price of the bonds at January 1, 2021. (Round final answers to the nea Table values are based on: n = i = Cash Flow Amount Present Value Interest Principal Price of bonds Required: 1. Determine the price of the bonds at January 1, 2021. 2. Prepare the journal entry to record their issuance by National on January 1, 2021. 3. Prepare an amortization schedule that determines interest at the effective rate each period. 4. Prepare the journal entry to record interest on June 30, 2021. 5. Prepare the appropriate journal entries at maturity on December 31, 2024. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare the journal entry to record their issuance by National on January 1, 2021. (If no entry is required for a transaction "No journal entry required in the first account field. Round Intermediate calculations and final answers to the nearest whol View transaction list View journal entry worksheet No Debit Credit Date General Journal January 01, 2021 No Transaction Recorded 1 1. Determine the price of the bonds at January 1, 2021. 2. Prepare the journal entry to record their issuance by National on January 1, 2021. 3. Prepare an amortization schedule that determines interest at the effective rate each period. 4. Prepare the journal entry to record interest on June 30, 2021. 5. Prepare the appropriate journal entries at maturity on December 31, 2024. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare an amortization schedule that determines interest at the effective rate each period. (Round in and final answers to the nearest whole dollar.) Cash Interest Bond Interest Expense Discount Amortization Carrying Value Semiannual Interest Period-End 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 06/30/2023 12/31/2023 06/30/2024 12/31/2024 Total Required 1 Required 2 Required 3 Required 4 Required 5 Prepare the journal entry to record interest on June 30, 2021. (If no entry is required for a transaction/event, se required" in the first account field. Round Intermediate calculations and final answers to the nearest whole dollar View transaction list Journal entry worksheet Record the interest expense on June 30, 2021. Note: Enter debits before credits. General Journal Debit Credit Date June 30, 2021 Recent Naaran TV Required 1 Required 2 Required 3 Required 4 Required 5 Prepare the appropriate journal entries at maturity on December 31, 2024. (If no entry is required for a transaction/event, select journal entry required in the first account field. Round Intermediate calculations and final answers to the nearest whole dollar.) View transaction list Journal entry worksheet
