Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please tell me the whole answer all the further answers which will include in this . please tell me all answers. General Autoparts Inc. issued
please tell me the whole answer all the further answers which will include in this . please tell me all answers.
General Autoparts Inc. issued $140,000 of 5%, 10-year bonds at a price of B3 on January 31, 2020. The market interest rate at the date of issuance was 8% and the standard bonds pay interest semi-annually 1. Prepare an effective interest amortization table for the bonds through the first three interest payments. 2. Record General's issuance of the bonds on January 31, 2020, and payment of the first semi-annual interest amount and amortization of the bonds on July 31. 2020. Explanations are not required. 1. Prepare an effective-interest amortization table for the bonds through the first three interest payments. (Round your answers to the nearest whole dollar.) General Autoparts Amortization Table B D Semi-annual Interest Date Jan. 31.2020 Interest Payment (2.5% of Maturity Value) Interest Expense (4% of Preceding Bond Carrying Amount) Bond Discount Amortization (B - A) Bond Discount Bond Account Balance Carrying Amount (Preceding D-C) ($140,000 -D) $ 23,800 $ 116 200 July 31, 2020 11 Enter any number in the edit fields and then click Check Answer 4 remaining 4 parts Clear All CheckStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started