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step by step with details (excel cart ) please copmare the solution with cell contents of the exercise. thank you 49. BOND AMORTIZATION SCHEDULE Atlas
step by step with details (excel cart ) please copmare the solution with cell contents of the exercise. thank you 49. BOND AMORTIZATION SCHEDULE Atlas Airlines, Inc., issued $600,000 of an 8 3/8% (0.08375), five-year bonds payable when the market interest rate was 9 1/2% (0.095). Atlas pays interest annually at year end. The issue price of the bonds was $574,082. Create a spreadsheet model to prepare a schedule to amortize the discount on these bonds. Use the effective-interest method of amortization. Round to the nearest dollar, and format your answer as follows. A B C DE F 11 Output Area: 12 Bond 13 Interest Interest Discount Discount Carrying 14 Date Payment Expense Amortization Balance Amount 15 1-1-1 $ $574,082 16 12-31-x1 $ $ $ $ 17 12-31-X2 18 12-31-x3 19 12-31-24 20 12-31-x5 Use the following formulas: Interest payment (B16): Interest expense (C16): =600000*.08375 F15*.095 Discount amortization (D16): =C16-B16 Discount balance (E15): 600000-F15 Bond carrying amount (F16): =F15+D16
step by step with details (excel cart ) please copmare the solution with cell contents of the exercise. thank you
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