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please look over the work to see what i missed.The homework assignment program is saying the question is not complete Citywide Company issues bonds with
please look over the work to see what i missed.The homework assignment program is saying the question is not complete
Citywide Company issues bonds with a par value of $150,000 on their stated issue date. The bonds mature in five years and pay 10% annual interest in semiannual payments. On the issue date, the annual market rate for the bonds is 8%. (Table B1. Table 8.2. Table 8.3. and Table B.4) (Use appropriate factor(s) from the tables provided.) 1. What is the amount of each semiannual interest payment for these bonds? 2. How many semiannual interest payments will be made on these bonds over their life? 3. Use the interest rates given to select whether the bonds are issued at par, at a discount, or at a premium 4. Compute the price of the bonds as of their issue date. 5. Prepare the journal entry to record the bonds' issuance. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 to 3 Reg 4 Reg 5 What is the amount of each semiannual interest payment for these bonds? How many semiannual interest payments will be made on these bonds over their life? Use the interest rates given to select whether the bonds are issued at par at a discount, or at a premium Semiannual Semiannual Par (maturity) value Rate cash interest payment $ 150,000 5% 7,500 Number of payments 10 Whether the bonds are issued at par, at a discount, or at a premium? At a premium Citywide Company issues bonds with a par value of $150,000 on their stated issue date. The bonds mature in five years and pay 10% annual Interest in semiannual payments. On the issue date, the annual market rate for the bonds is 8%. (Table B.1. Table B.2. Table 8.3. and Table 8.4) (Use appropriate factor(s) from the tables provided.) 1. What is the amount of each semiannual interest payment for these bonds? 2. How many semiannual interest payments will be made on these bonds over their life? 3. Use the interest rates given to select whether the bonds are issued at par, at a discount, or at a premium 4. Compute the price of the bonds as of their issue date. 5. Prepare the journal entry to record the bonds' issuance. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 to 3 Reg 4 Reg 5 Compute the price of the bonds as of their Issue date. Table Values are Based on: 10 4.0% Table Cash Flow Value Amount Par (maturity) 0.6756 value 150.000 Interest (annuity) 8.1109 $ 7,500 Price of bonds Present Value X X 101,340 60,832 162,172 $ Reg 1103 Regs > Exercise 10-8A Computing bond interest and price; recording bond issuance LO C2, P3 Citywide Company issues bonds with a par value of $150,000 on their stated issue date. The bonds mature in five years and pay 10% annual interest in semiannual payments. On the issue date, the annual market rate for the bonds is 8% (Table B.1. Table 8.2. Table 8.3. and Table 8.4) (Use appropriate factor(s) from the tables provided.) 1. What is the amount of each semiannual interest payment for these bonds? 2. How many semiannual interest payments will be made on these bonds over their life? 3. Use the interest rates given to select whether the bonds are issued at par, at a discount, or at a premium 4. Compute the price of the bonds as of their issue date. 5. Prepare the journal entry to record the bonds' issuance. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 to 3 Reg 4 Reg 5 Prepare the journal entry to record the bonds" issuance. (Round Intermediate calculations to the nearest dollar amount.) Credit 162,172 Bonds payable Premium on bonds payable No Transaction General Journal Debit 1 Cash OOC 150,000 12.172 Step by Step Solution
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