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Rogers Communications Inc. is a diversified Canadian communications and media company engaged in wireless, cable, and media communications. On March 15, 2013, Rogers sold notes
Rogers Communications Inc. is a diversified Canadian communications and media company engaged in wireless, cable, and media communications. On March 15, 2013, Rogers sold notes with the following specifications: |
Principal amount | $600 million |
Maturity date | March 15, 2023 |
Issue price | 99.845% of principal amount |
Coupon rate | 3.10% |
Effective interest rate | 3.118% |
Interest payment dates | March 15 and September 15 |
Questions are in the screenshots, the answers highlighted in red I got wrong. Please can someone help me to find the answers? Rogers Communioations Inc. is a diversied Canadian oommunisations and media oompany engaged in wireless, cable. and media oommunioations. On March 15. 2013. Rogers sold notes with the following specications: Prinoipal amount $600 million Maturity date March 15. 2033 Issue prioe 30.34511: of principal amount Coupon rate 3.10% Eediye interest rate 3.11 0% Interest payment dates Manoh 15 and September 15 Required: 1. Prepare a joumal entry to reoord the sale of these notes on March 15. 2013. [Enter your answers in dollars and not in millions. If no entry is required for a transas'tiorltietrent'1 select "Ho journal entry required" in the rst aooount eld.) Answer is oomplete and oorreet Maroh15.2013 Gash snares-:1 _ Disoountonnotespayahle 030,00 _ We... mum 2. Prepare the joumal entry to record the payment of interest and amortization of the disoount on September 15. 2013. The oompany uses the effectiveinterest method of amortization. {Enter your answers in dollars and not in millions. Round your answer to the nearest dollar amount. if no entry is required for a transar.'.tli.'nntletll'entI seleot "Ho journal entry required" In the rst aooount eld.] Answer is oomplete but not entirely oorreot mm 3a. Compute Ihe intereet expense that aoemed from September 15, 213113, to Deeember 3'1, 2013, the end of Rogers'eeel year. [Enter your answers in dollars and not In millions. Round your answerto the nearest dollar amount.) Answer is oomplete but not entirely oorreet s 5.133.665! 3b. Prepare the adjusting journal en11'yr on December 31 , 21313, to reeord interest expense and amortization of the discount on the notes. [Enter your answers in dollars and not in millions. Round your answers to the nearest dollar amount. If no erI|1:II'yr is required for a transactionieyent, select \"No journal entry required" In the first aeeount eld.] Answer is complete but not entirely oorreet Deoamber 31, 2:113 lntereatexpense J 5.2mm! 4. Show the amounts that should be reported on Rogers' nancial statements for 2013. [Enter your answers in dollars and not In millions. Round your answers to the nearest dollar amount.) Answer is eomplete but net entirelyr correct Statement of earnings: 3" Statement of naneial position: Cun'ent liabilities: Interest playable Longterm liabilities: Notes payable Less: Unamertiaed diseount { 593,133,331 5 K 5. Compute the total amount of interest expense over the life of the notes. [Enter your answers in dollars and not In millions.) Answer is oomplete but not entirelyr oorreet 5 WHEN
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