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Please help me correct my mistakes. I do not know what I did wrong s Berj Corporation issued bonds and received cash in full for
Please help me correct my mistakes. I do not know what I did wrong
s Berj Corporation issued bonds and received cash in full for the issue price. The bonds were dated and ssued on January 1,2017. The coupon rate was payable at the end of each year. The bonds mature at the end of four years. The following schedule has been partially completed (amounts in thousands) January 1, 2017 (issuance) End of year 2017 End of year 2018 End of year 2019 End of year 2020 $450 450 450 450 $6,101 6,078 6,053 $427 $23 6,000 1. Complete the amortization schedule. (Make sure that the unamortized discount/premium equals to V' and the Net Liability equals to face value of the bond in the last period. Enter your answers in thousands of dollars. Round intermediate calculations and final answers to the nearest whole dollars. Enter all amounts as positive values.) 3 Answer is complete but not entirely correct Carrying S 6,101 6,078 6,053 7 6,026 26 6,000 CashInterest Amortization January 1, 2017 End of year 2017 End of year 2018 End of year 2019 End of year 2020 23 $ 450 450 450 450 427 425 423 0 424 was the maturity amount of the bonds? (Enter your answer in thousands of dollars) Answer is complete and correct. 6.000 2. What was the maturity amount of the bonds? (Enter your answer In thousands of dollars.) Answer is complete and correct. 6,000 3. How much cash was received at the date of issuance (sale) of the bonds? (Enter your answer in thousands of dollars.) Answer is complete and correct. 6,101 4. What was the amount of discount or premium on the bond? (Enter your answer in thousands of dollars.) Answer is complete and correct. 101 5. How much cash will be disbursed in total for the full life of the bond issue? (Enter your answer in thousands of dollars) 3 Answer is complete but not entirely correct. s 7,800 Answer Is complete and correct. 70% What amount of interest expense should be reported on the statement of earnings each year? (Entar your answers in thousands of dollars Answer is complete but not entirely correct. 2017 $ 427 2018 2019 2020 425 423 0 424 3 10.Show how the bonds should be reported on the statement of financial position at the end of each year (Show the last year immediately before repayment of the bonds) (Enter your answers in thousands of dollars.) 3 Answer is complete but not entirely correct. Bonds payable Add: Unamortized premium Net liablity 2017 2018 2019 2020 o |s 6.000. S 6,000S 6,000 6,000 o 23 250 270 260 Step by Step Solution
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