Question
S 2,000.00 Part 3 Case 1 C 01-Apr-19 Answer all the questions in the spaces provided (Yellow cells) Bobby inc. sued A stated annual interest
S 2,000.00 Part 3 Case 1 C 01-Apr-19 Answer all the questions in the spaces provided (Yellow cells) Bobby inc. sued A stated annual interest rate of On the issue date, the market rate was The bonds mature in Prepare the journal entries for the fiscal year-end December 31, 2019 to record: The band asue, the interest payment and the accrual of interest 100.00 bonds, each with a face value of 7.0% paid semi-annually on March 31 and September 30 7.0% 3 years. 11 Mark Dete 01-Apr-19 General knal cash bond payable Mark 30-Sep-19 Interest expense ash 12 Mark 31-Dec-15 leccrued interest cash Debt Credit 9,733 5733 511 511 Simon Inc. Issued bonds and received cash in full for the issue price with the following amortization schedule: Cash paid for interest payament Interest expense Amortization Book value 5 9,732.70 500.00 583.96 3.96 9816.66 500.00 589.00 29.00 9,905.66 500.00 594.34 94.34 10,000.00 Date 01-Aug-19 31-3-20 31-366-21 33--22 24 (Mark) Determine the bonds' annual stated interest rate 20 Determine the market rate (or the effective interest rate) Mark Prepare the journal entry for the nuance of the bonds and the accrual of interest for the fiscal year 2019 Dat Mark 01-Aug-19 Mark 31-Dec-19 INSTRUCTION Generational Part 1 Debit Part 2 Part 3 Part 4 Select destination and press ENTER or choose Paste B @ I U # Credit EF a A Case 2 Simon Inc. issued bonds and received cash in full for the issue price with the following amortization schedule: Date 01-Aug-19 31-Jul-20 31-Jul-21 31-Jul-22 Cash paid for interest payament Interest expense Amortization Book value S 9,732.70 500.00 583.96 83.96 9,816.66 500.00 589.00 89.00 9,905.66 500.00 594.34 94.34 10,000.00 2A Determine the bonds' annual stated interest rate [1 Mark] 2B Determine the market rate (or the effective interest rate) (1 Mark] 2C Prepare the journal entry for the issuance of the bonds and the accrual of interest for the fiscal year 2019. [1 Mark] Date 01-Aug-19 2 Marks] 31-Dec-19 General Journal Debit + Credit
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