Ranger Co. issues bonds dated January 1, information about the bonds is below. Interest is paid semiannually on June 30 and December 31.

Par 850,000

Rate 12%

Term 3

Market Rate 10%

Issue Price 893,131

Semi annual interest 51,000

1) WHAT IS THE AMOUNT OF THE PREMIUM ON THESE BONDS AT ISSURANCE?

ISSUE PRICE?

PAR?

PREMIUM?

2)HOW MUCH TOTAL BOND INTEREST EXPENSE WILL BE RECONIZED OVER THE LIFE OF THESE BONDS?

AMOUNT PREPAID?

_____ PAYMENTS OF_____?

PAR VALUE OF MARURITY?

TOTAL PREPAID?

LESS AMOUNT BORROWED?

TOTAL BOND INTEREST EXPENSE?

3)HOW TO CALCULATE A STRAIGHT LINE AMORTIZATION TABLE FOR THESE BONDS?

WHAT IS THE UNAMORTIZED PREMIUM FOR YEAR

1/1 YEAR?

6/30 YEAR 1?

1/1 YEAR 2?

6/30 YEAR 2?

1/1 YEAR 3?

6/30 YEAR 3?

12/31 YEAR 3?

WHAT IS THE CARRYING VALUE FOR

1/1 YEAR?

6/30 YEAR 1?

1/1 YEAR 2?

6/30 YEAR 2?

12/31 YEAR 3?