Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Queen Energy Inc. issued bonds on January 1, 2020, that pay vetest semiannually one and December the pare of the bonds is $150,000, the annual
Queen Energy Inc. issued bonds on January 1, 2020, that pay vetest semiannually one and December the pare of the bonds is $150,000, the annual contract rate is 12%, and the bonds mature 10 years. ILMAINEAN appropriate factors) from the tables provided.) Required: a. For each of these three situations, determine the issue price of the bonds (Do not found on talons Rood final answers to the nearest whole dollar) (1) (2) (3) 8% 12% 14% b. For each of these three situations, prepare the journal that we date of issuance was (1) 8X, (2) 12X, (3) 14X (USP tables in the calculations. Round the final answers to the nearest whole do View transaction list Journal entry worksheet 1 2 3 Record the sale of bonds on original issue date at 8% market interest rate. Note: Enter debits before credits. Keneral Journal Date January 01, 2020 1 Record the sale of bonds on original issue date at 8% market interest rate. 2. Record issuance of bond payable at 12% market interest rate. 3 Record issuance of bond payable at 14% market interest rate. mo carbon.com/Media/Conned Production/beamon Sinble 1 149 * TABLE 14A1 Present Value of 1 Due in n Periods Rate Periods 3% 4% 5% 7% 8% 9% 10% 12% 15% 3 4 5 6 7 8 9 10 11 12 13 DLOOS 0.04.2016 2114 03 02920 DAG NO3 01.12 0.94 0900 0.00738/3 0841408284 72 0.7661 0.9706 0294 0.9151 8890 0.820.8.196 0163 0.79387122 0.7513 0.7148 0.6175 0.9610 09238 0.8, 8 D.8227 0.7921 0.7629 0.750 0.70B4 0.68.30 0.6355 0.5718 0.9516 0.9057 0.8626 0.8219 0.7835 0.7130 0.6806 0.6491 0.62090.5674 0.4972 0.9420 0,8880 0.8375 0.7903 0.7462 0.7050 0.6663 0.6302 0.5963 0.5645 0.5066 0.4323 0.9327 0.8706 0.8131 0.7599 0.7107 0.6651 0.6227 0.5835 0.5470 0.5132 0.4523 0.3759 0.9235 0.8535 0.7894 0.7307 0.6768 0.6274 0.5820 0.5403 0.5019 0.4665 0.4039 0.3269 0.9143 0.8368 0.7664 0.7026 0.6446 0.5919 0.5439 0.5002 0.4604 0.4241 0.3606 0.2843 0.9053 0.8203 0.7441 0.6756 0.6139 0.5584 0.5083 0.4632 0.4224 0.3855 0.3220 0.2472 0.8963 0.8043 0.7224 0.6496 0.5847 0.5268 0.4751 0.4289 0.3875 0.3505 0.2875 0.2149 0.8874 0.7885 0.7014 0.6246 0.5568 0.4970 0.4440 0.3971 0.3555 0.3186 0.2567 0.1869 0.8787 0.7730 0.6810 0.6006 0.5303 0.4688 0.4150 0.3677 0.3262 0.2897 0.2292 0.1625 0.8700 0.7579 0.6611 0,5775 0.5051 0,4423 0.3878 0.3405 0.2992 0.2633 0.2046 0.1413 0.8613 0.7430 0.6419 0.5553 0.4810 0.4173 0.3624 0.3152 0.2745 0.2394 0.1827 0.1229 0.8528 0.7284 0.6232 0.5339 0.4581 0.3936 0.3387 0.2919 0.2519 0.2176 0.1631 0.1069 0.8444 0.7142 0.6050 0.5134 0.4363 0.3714 0.3166 0.2703 0.2311 0.1978 0.1456 0.0929 0.8360 0.7002 0.5874 0.4936 0.4155 0.3503 0.2959 0.2502 0.2120 0.1799 0.1300 0.0808 0.8277 0.6864 0.5703 0.4746 0.3957 0.3305 0.2765 0.2317 0.1945 0.1635 0.1161 0.0703 0.8195 0.6730 0.5537 0.4564 0.3769 0.3118 0.2584 0.2145 0.1784 0.1486 0.1037 0.0611 0.7798 0.6095 0.4776 0.3751 0.2953 0.2330 0.1842 0.1460 0.1160 0.0923 0.0588 0.0304 0.7419 0.5521 0.4120 0.3083 0.2314 0.1741 0.1314 0.0994 0.0754 0.0573 0.0334 0.0151 0.7059 0.5000 0.3554 0.2534 0.1813 0.1301 0.0937 0.0676 0.0490 0.0356 0.0189 0.0075 0.6717 0.4529 0.3066 0.2083 0.1420 0.0972 0.0668 0.0460 0.0318 0.0221 0.0107 0.0037 14 15 16 17 18 19 20 25 30 35 40
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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