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please do all 3 parts of this question. 1st pic as all the instructions. thank you Exercise 14-7 (Static) Determine the price of bonds; issuance;
please do all 3 parts of this question. 1st pic as all the instructions. thank you
Exercise 14-7 (Static) Determine the price of bonds; issuance; straight-line method [LO14-2] Universal Foods issued 10\% bonds, dated January 1, with a face amount of $150 million on January 1,2024. - The bonds mature on December 31,2038 (15 years). - The market rate of interest for similar issues wass 12%. - Interest is paid semiannually on June 30 and December 31. - Universal uses the straight-line method. Required: 1. Determine the price of the bonds at January 1,2024 . 2. to 4. Prepare the journal entries to record their issuance by Universal Foods on January 1,2024 , interest on June 30 , 2024 and interest on December 31, 2031. Note: Use tables, Excel, or a financial calculator. (FV of $1,PV of $1,FVA of $1,PVA of $1,FVAD of $1 and PVAD of $1 ) Complete this question by entering your answers in the tabs below. Prepare the journal entries to record their issuance by Universal Foods on January 1, 2024, interest on June 30,2024 and interest on December 31, 2031. Note: Round your final answers to the nearest whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Show less a interest on December 31, 2031. Note: Use tables, Excel, or a financial calculator. (FV of $1,PV of $1,FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1 ) Complete this question by entering your answers in the tabs below. Prepare the journal entries to record their issuance by Universal Foods on January 1, 2024, interest on June 30, 2024 and interest on December 31, 2031. Note: Round your final answers to the nearest whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field: Show less 4 Journal entry worksheet Record the issuance of the bond on January 1,2024. Note: Enter debits before credits. interest on December 31, 2031. Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1 ) Complete this question by entering your answers in the tabs below. Prepare the journal entries to record their issuance by Universal Foods on January 1, 2024, interest on June 30, 2024 and interest on December 31, 2031. Note: Round your final answers to the nearest whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field: Show less . Journal entry worksheet Record the interest on June 30,2024 . Note: Enter debits before credits. interest on December 31, 2031. Note: Use tables, Excel, or a financial calculator. (FV of $1. PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1 ) Complete this question by entering your answers in the tabs below. Prepare the journal entries to record their issuance by Universal Foods on January 1, 2024, interest on June 30,2024 and interest on December 31, 2031. Note: Round your final answers to the nearest whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field: Journal entry worksheet 1 Record the interest on December 31,2031 Note: Enter debits before creditsStep by Step Solution
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