Problem 14-10 Presented below are four independent situations. (a) On March 1, 2018, Vaughn Co. issued at 103 plus accrued interest $4,060,000, 9% bonds. The bonds are dated January 1, 2018, and pay interest semiannually on July 1 and January 1. In addition, Vaughn Co. incurred $24,000 of bond issuance costs. Compute the net amount of cash received by Vaughn Co, as a result of the issuance of these bonds. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answers to decimal places, e.g. 5,275.) (b) on January 1, 2017, Bramble Co. issued 9% bonds with a face value of $651,000 for $610,997 to yield 10%. The bonds are dated January 1, 2017, and pay interest annually What amount is reported for interest expense in 2017 related to these bonds, assuming that Bramble used the effective interest method for amortizing bond premium and discount? (Round answer to o decimal places, e.g. 38,548.) (c) Sunland Building Co. has a number of long-term bonds outstanding at December 31, 2017. These long-term bonds have the following sinking fund requirements and maturities for the next 6 years. . 9.00 Indicate how above information should be reported in the financial statements at December 31, 2017. (Round answers to decimal places, e.g. 38,548.) Problem 14-10 Presented below are four independent situations. (a) on March 1, 2018, Vaughn Co. Issued at 103 plus accrued interest $4.060.000, 99 bond the bonds are dated January July 1 and January 1, in addition, Vaughn Co, incurred $24,000 of bond issuance costs, 2018, and pay interest semiannually on Compute the net amount of cash received by Vaughn Co, as a result of the issuance of these bands, Round resent value factor alculations to 0.01.25124 and final answers to decimal places .0. 5,275 decimal places Net amount of cash received (b) on January 1, 2017, Bramble Cossed annually. bonds with a face value 5651,000 for $610,997 talveld 10 The bond dated January 1, 2017 and pay interest What amount is reported for interest expense in 2017 related to these bonds, assuming that Bramble used the effective interest method for amortizing bond premium and discount (Round answer to o decimal places... 38.5 .) Interest expense to be reported for 2017 (c) Sunland Building Co. has a number of long-term bonds outstanding at December 31, 2017. These long-term bonds have the following sinking fund requirements and maturities for the next 6 years. Sinking Fund Maturities 2018 $279,000 $95,000 2019 95,000 247,000 2020 95,000 95,000 2021 201,000 2022 201.000 138,000 2023 201,000 95.000 Indicate how above information should be reported in the financial statements at December 31, 2017. (Round answers to decimal places .0.38,548.) Maturities and sinking fund requirements 2015 2019 2020 2021 2022 Thereafter (d) In the long-term debt structure of Coronado Inc., the following three bonds were reported: mortgage bonds payable $9,975,000; collateral trust bonds $5,037,000; bonds maturing in installments, secured by plant equipment $4,030,000. Determine the total amount, if any, of debenture bonds outstanding. Total amount
