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Sheridan Inc. issued a dabenturz bond to Karamoutz Bank to finance new tachnology it developed. The dabenture was for $ 5 6 0 , 0
Sheridan Inc. issued a dabenturz bond to Karamoutz Bank to finance new tachnology it developed. The dabenture was for $ issuad at face valuz, with a yaar tarm and interast payable at Sharidan's new tachnology proved not to be technically feasibla and causad it to po into financial distress. The dabantura is due today, Decamber and Sharidan does not have tha funds to rapey the debenture or the intarest. As a rasult, Karamoutz azraed to extend the debenture due date for five more years and reduce the principal amount to $ in exchange for receiving common sharas of Sharidan, currantly trading at $ per shara. Interast will still be payable at and will continue to be due annually on Dacamber of each year. The currant markat rata is Sheridan praparas financial statements in accordance with IFRS. click here to vizw the factor table PRESENT VALUE OF click hers to vizw the factor table PRESENT VALUE OF AN ANNUITY OF Using factor tables, a financial calculator, or Excel function PV prepare all the necessary journal antries on the books of Sheridan from the time of restructuring the debenture through maturity. Round present value factor calculations to decimal places, eg and final answer to decimal places eg Credit account titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Date Account Titles and Explanation Debit Credit To racord paymant of intarest
Sheridan Inc. issued a dabenturz bond to Karamoutz Bank to finance new tachnology it developed. The dabenture was for $
issuad at face valuz, with a yaar tarm and interast payable at Sharidan's new tachnology proved not to be technically feasibla
and causad it to po into financial distress. The dabantura is due today, Decamber and Sharidan does not have tha funds to
rapey the debenture or the intarest. As a rasult, Karamoutz azraed to extend the debenture due date for five more years and reduce
the principal amount to $ in exchange for receiving common sharas of Sharidan, currantly trading at $ per shara.
Interast will still be payable at and will continue to be due annually on Dacamber of each year. The currant markat rata is
Sheridan praparas financial statements in accordance with IFRS.
click here to vizw the factor table PRESENT VALUE OF
click hers to vizw the factor table PRESENT VALUE OF AN ANNUITY OF
Using factor tables, a financial calculator, or Excel function PV prepare all the necessary journal antries on the books of
Sheridan from the time of restructuring the debenture through maturity. Round present value factor calculations to decimal places, eg
and final answer to decimal places eg Credit account titles are outomatically indented when the amount is entered. Do not
indent manually. If no entry is required, select No Entry" for the account titles and enter O for the amounts. List all debit entries before credit
entries.
Date
Account Titles and Explanation
Debit
Credit
To racord paymant of intarest
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