Surf's Up Is a manufacturer of surfing supplies and training equipment. On January 1, 2021. Surt's Up Issues 6%, 10-year bonds with a face amount of $66,000 for $66,000 to finance its new warehouse. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid annually on December 31. Required: 1. & 2. Record the bond issue and first interest payment on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list A partial amortization schedule for Sugar Ray's BBQ follows (1) (2) (3) (4) Cash Increase Paid in for Interest Carrying Carrying Period Interest Expense Value Value Issue date $58,467 1 $2,240 $2,339 $ 99 58,566 2,240 2,343 103 58,669 Required: 1. & 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $64,000. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Required information [The following information applies to the questions displayed below.) On January 1, 2021. Wild Rapids Water Park Issues $39.9 million of 7% bonds to finance expansion. The bonds are due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Required: 1-a. If the market rate is 6%, calculate the issue price. (EV of $1. PV of Su. EVA of $1. and PVA of $.1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Enter your answers in dollars not in millions. Round "Market interest rate" to 1 decimal place, Round your final answers to the nearest whole dollar) Amount 39,900,000 $ Bond Characteristics Face amount interest payment Periods to maturity Market interest rate Issue price Required information (The following Information applies to the questions displayed below.) On January 1, 2021, Wild Rapids Water Park issues $39.9 million of 7% bonds to finance expansion. The bonds are due in 10 years, with interest payable semiannually on June 30 and December 31 each year, 2-a. If the market rate is 7%, calculate the issue price. (EV of $1. PV of $1. EVA of $1. and PVA OL$1) (Use appropriate factoris) from the tables provided. Do not round interest rate factors. Enter your answers in dollars not in millions. Round Market interest rate" to 1 decimal place. Round your final answers to the nearest whole dollar.) Amount 39 900,000 $ Bond Characteristics Face amount Interest payment Periods to maturity Market interest rate Issue price Required information [The following information applies to the questions displayed below.) On January 1, 2021. Wild Rapids Water Park Issues $39.9 million of 7% bonds to finance expansion. The bonds are due in 10 years, with interest payable semiannually on June 30 and December 31 each year. 3-a. If the market rate is 8%, calculate the issue price. (FV of $1, PV of $1. EVA of $1. and PVA of S1) (Use appropriate factoris) from the tables provided. Do not round interest rate factors. Enter your answers in dollars not in millions. Round Market interest rate" to 1 decimal place. Round your final answers to the nearest whole dollar) Amount 30,000,000 $ Bond Characteristics Face amount Interest payment Periods to maturity Market interest rate Issue price
