question1

The Bradford Company issued 12% bonds, dated January 1, with a face amount of $97 million on January 1, 2021. The bonds mature on December 31, 2030 (10 years). For bonds of similar risk and maturity, the market yield is 14%. Interest is paid semiannually on June 30 and December 31. (FV of $1,PV of $1,FVA of $1,PVA of $1,FVAD of $1andPVAD of $1)

Required:

1.Determine the price of the bonds at January 1, 2021.

2. to 4.Prepare the journal entries to record their issuance by The Bradford Company on January 1, 2021, interest on June 30, 2021 and interest on December 31, 2021 (at the effective rate).

question 2

Myriad Solutions, Inc. issued 12% bonds, dated January 1, with a face amount of $440 million on January 1, 2021, for $393,386,664. The bonds mature on December 31, 2030 (10 years). For bonds of similar risk and maturity the market yield is 14%. Interest is paid semiannually on June 30 and December 31.

Required:

Calculate the amounts related to the bonds that Myriad would report in its financial statements.(Round your answers to the nearest whole dollar.)

Net liability ____________

Financing ______________

question 3 On March 1, 2021, Stratford Lighting issued 14% bonds, dated March 1, with a face amount of $840,000. The bonds sold for $819,000 and mature on February 28, 2041 (20 years). Interest is paid semiannually on August 31 and February 28. Stratford uses the straight-line method and its fiscal year ends December 31.

Required:

1. to 4.Prepare the journal entries to record the issuance of the bonds by Stratford Lighting on March 1, 2021, interest on August 31, 2021, accrued interest on December 31, 2021 and interest on February 28, 2022.(Do not round your intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

question 4 American Food Services, Inc., acquired a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2021. In payment for the $5.6 million machine, American Food Services issued a four-year installment note to be paid in four equal payments at the end of each year. The payments include interest at the rate of 10%. (FV of $1,PV of $1,FVA of $1,PVA of $1,FVAD of $1andPVAD of $1)(Use appropriatefactor(s) from the tables provided.)

Required:

1.Prepare the journal entry for American Food Services' purchase of the machine on January 1, 2021.

2.make an amortization schedule for the four-year term of the installment note.

3.Prepare the journal entry for the first installment payment on December 31, 2021.

4.Prepare the journal entry for the third installment payment on December 31, 2023.

explain in same format

A ccsu.blackboard.com Blackboard Learn Homework Help - Q&A from Online Tutors - Course Hero Central Connecticut State University Reshma Shaikh MyCourses@CCSU Organizations@CCSU Content Collection Connect HW Chapter 14 i Saved Help Save & Exit Submit 4 American Food Services, Inc., acquired a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2021. In payment for the $5.6 million machine, American Food Services issued a four-year installment note to be paid in four equal payments at the end of each year. The payments include interest at the rate of 10%. (FV of $1, PV of $1, EVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 4 Required: points 1. Prepare the journal entry for American Food Services' purchase of the machine on January 1, 2021. 2. Prepare an amortization schedule for the four-year term of the installment note. Skipped 3. Prepare the journal entry for the first installment payment on December 31, 2021. 4. Prepare the journal entry for the third installment payment on December 31, 2023. eBook Complete this question by entering your answers in the tabs below. Hint Print Req 2 Req 1 3 and 4 References Prepare an amortization schedule for the four-year term of the installment note. (Enter your answers in whole dollars.) Dec.31 Cash Payment Effective Interest Decrease in Outstanding Balance Balance 021 2022 2023 2024 Mc Graw Hill ducation

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