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please answer asap thank you GBC Corp. bought a $10,0008% bond from Humber Inc. on January 1, 2021. It matures on December 31,2023 Interest rates
please answer asap thank you
GBC Corp. bought a $10,0008% bond from Humber Inc. on January 1, 2021. It matures on December 31,2023 Interest rates in the market are currently 10% and it is management's intent to hold this long term investment to maturity Required a b c C i) ii) iii) Calculate the present value of this bond investment Prepare an amortization table for the life of this bond Prepare the journal entries required to record: the bond purchase the annual intererest payments Now assume that the bond was acquired as a FV-NI investment The Fair Market Value(FMV) at the end of each year was: \begin{tabular}{|l|r|} 2021 & $9,900 \\ \hline 2022 & $9,600 \\ \hline \end{tabular} i) Prepare the journal entries required at the end of each year to reflect the gain or loss due to the FMV process using a Tee (ledger) account to organize your answer. Because they actually held the bond to maturity calculate the amortization of premiums/discounts along with the FMV fluctuation due to changing market conditions. e Show your answers for the above - a,b,c assuming that the market inerest rate was 5%Step by Step Solution
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