(Static) Computing Equal Periodic Debt Payments, and Completing a Schedule

P9-3 (Static) Computing Equal Periodic Debt Payments, and Completing a Schedule LO9-2 Alimentex Inc. develops, manufactures, and markets a wide range of fruit and vegetable juices and drinks as well as specialty food products, such as fondue broths and sauces, soups, gravies, pestos, and sauces for pasta and pizza. Use Table 8C.1, table 8C.2. (Round time value factor to 4 decimal places.) The company's long-term debt includes the following obligations: Required: 1. Assume that the equipment related to the first obligation was acquired on January 1,2020 and that the first payment of $262,212 was made on December 31,2020 . Verify that the carrying amount reported by the company as of December 31,2022 represents the present value of the remaining annual payments. (Note. Tables 8C.1 and 8C.2 do not include the 5.5 percent interest rate. Use Microsoft Excel or a calculator to compute the present value of future payments.) (Enter your answer in dollars not in thousands of dollars rounded to the nearest whole dollar.) 2. How much interest will the company pay as part of the five remaining instalments on the 5.5 percent obligation? (Hint You may find it helpful to prepare a schedule similar to Exhibit 9.3, option 3.) (Enter your answer in dollars not in thousands of dollars rounded to the nearest whole dollar.) 3. Prepare the journal entry to record payment of the instalment on December 31,2023 . (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in dollars not in thousands of dollars rounded to the nearest whole dollar.) 4. Assume that the obligation under the lease was signed on July 1,2021 and that the first semi-annual instaiment was made on December 30, 2021. Verify that the carrying amount reported by the company as of December 31, 2022 represents the present value of the remaining semi-annual payments. Use a calculator or Microsoft Excel to compute the present value of future payments. (Enter your answer in dollars not in thousands of dollars rounded to the nearest whole dollar.) Present Volue of $1pp=(1i)p \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline eriods & 1.5% & 1.75% & 2% & 2.25%6 & 2.5% & 2.75% & 3% & 3.25% & 3.5% \\ \hline 1 & 0.9852 & 0.9828 & 0.9804 & 0.9780 & 0.9756 & 0.9732 & 0.9709 & 0.9685 & 0.9662 \\ \hline 2 & 0.9707 & 9659 & 0.9612 & & & & & & 0.9335 \\ \hline 3 & 09563 & 9493 & 23 & & 86 & & & & \\ \hline 4 & 22 & 9330 & 8 & 88 & 50 & & & & \\ \hlines & 9283 & $169 & 9057 & 47 & 6839 & 32 & 26 & & 20 \\ \hline 6 & & & & 8750 & & & & & $135 \\ \hline 7 & 0.9010 & $8$6 & os & & & & & & \\ \hline 8 & & & & & & & & & \\ \hline 9 & 8746 & 4 & is & & 97 & 94 & & & \\ \hline 10 & 0.8617 & 07 & 03 & 25 & 812 & 24 & 41 & & 9 \\ \hline 11 & 0.8439 & 63 & & & 621 & & & & \\ \hline 12 & 0.8364 & & & & & & & & \\ \hline 13 & & & & & & & & & \\ \hline 14 & 0 & & & & & & & & \\ \hline 15 & & & & & & & & & \\ \hline 16 & 0 & 576 & 84 & 65 & 36 & 9 & & & \\ \hline 17 & & & & & & & & & \\ \hline 18 & & & & & & & & & \\ \hline 19 & & & & & & & & & \\ \hline 20 & 0 & 68 & 30 & 88 & 03 & & & & \\ \hline 30 & & 0.5942 & & & & & & & \\ \hline 40 & & & & & & & & & \\ \hline 50 & & & & & & & & & \\ \hline eriou & & & & & & 79% & & & \\ \hline 1 & 9639 & 8615 & 59 & 4 & 4 & 0.9346 & & & 0.909 \\ \hline 2 & 19290 & & & & & & & & \\ \hline 3 & & & & & & & & & \\ \hline 4 & & & & & & & & & \\ \hline 5 & & & & & & & & & \\ \hline 6 & & & & & & & & & \\ \hline 7 & 728 & 99 & & & & & & & \\ \hline 8 & 449 & 0. & 32 & & 74 & 20 & 03 & & 65 \\ \hline 9 & & & & & & & & & \\ \hline 10 & 0.6920 & & & & & & & & \\ \hline 11 & & & & & & & & & \\ \hline 12 & & & & & & & & & \\ \hline 13 & 0.6197 & 0.6006 & 0.5643 & 93 & 0.46 & 80 & 7 & 82 & 7 \\ \hline 14 & & & & & & & & & \\ \hline 15 & & & & & & & & & \\ \hline 16 & & 0.5339 & & & & & & & \\ \hline 17. & 0.5349 & 0.5134 & 0.4732 & 0.4363 & 0.3714 & 0.3166 & 0.2703 & 0.3311 & 0.078 \\ \hline 18 & 0.5155 & 0.4936 & 0.4528 & 0.4155 & 0.3503 & 0.2959 & 0.2502 & 120 & 1799 \\ \hline 19 & 0.4909 & 0.4746 & 0.4333 & 0.595? & 0,3305 & 0.2705 & 0.2317 & 43 & 0.1635 \\ \hline 20 & 0.4789 & 0.4564 & & & 0.3118 & 0.2584 & 0,2145 & & \\ \hline 30 & & 0.3083 & & & & 0.1314 & & 0.0754 & 0.0573 \\ \hline 40 & 0.2293 & 0.2083 & 0.1719 & & 0.0972 & 0.0668 & 0.0460 & 0.0318 & 0.0221 \\ \hline 50 & 0.1587 & 0.1407 & 0.1107 & 0.0872 & 0.0543 & 0.0339 & 0.0213 & 0.0134 & 0.0055 \\ \hline \end{tabular}