Problem 10-3A (Algo) Straight-Line: Amortization of bond premium LO P3 2 Ellis Company issues 6.5%, five-year bonds dated January 1, 2021, with a $500,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $510,666. The annual market rate is 6% on the issue date. 3 Required: points Skipped 1. Calculate the total bond interest expense over the bonds' life. 2. Prepare a straight-line amortization table for the bonds' life. 3. Prepare the journal entries to record the first two interest payments. eBook Complete this question by entering your answers in the tabs below. Ask Required 1 Required 2 Required 3 Calculate the total bond interest expense over the bonds' life. Print References Total bond interest expense over life of bonds: Amount repaid: payments of Par value at maturity Total repaid Less amount borrowed Total bond interest expense 0 $ 0 Problem 10-7A (Algo) Applying the debt-to-equity ratio LO A2 3 The following information is available for both Pulaski Company and Scott Company at the current year-end. 2 points Total assets Total liabilities Total equity Pulaski Company $ 2,309,500 849,500 1,460,000 Scott Company $ 1,178,500 543, 500 635,000 Skipped Required: 1. Compute the debt-to-equity ratio for both companies. 2. Which company has the riskier financing structure? eBook Complete this question by entering your answers in the tabs below. Ask Required 1 Required 2 Print Compute the debt-to-equity ratio for both companies. o Choose Numerator: 1 Choose Denominator: References Debt-to-Equity Ratio 1 0 Pulaski Company Scott Company - 0