WIll rate positively if all done thank you!
[The following information applies to the questions displayed below.] On January 1 of this year, Olive Corporation issued bonds. Interest is payable once a year on December 31. The bonds mature at the end of four years. Olive uses the effective interest amortization method. The partially completed amortization schedule below pertains to the bonds: Cash Interest Amortization Date January 1, Year 1 End of Year 1 End of Year 2 End of Year 3 End of Year 4 $ 1,650 ? ? ? $ 1,527 ? ? 1,507 $ 123 ? 136 ? Balance $ 30,532 30,409 30,279 ? 30,000 10. value: 10.00 points Required information Required: 1. Complete the amortization schedule. (Enter all values as positive values. Round your final answers to nearest whole dollar amount.) Cash Interest Amortization Balance $ 30,532 $ 1,650 $ 1,527 $ 123 $ 30,409 Date January 1, Year 1 End of Year 1 End of Year 2 End of Year 3 End of Year 4 $ 30,279 $ 136 $ 1,507 $ 30,000 11. value: 10.00 points Required information 2. When the bonds mature at the end of Year 4, what amount of principal will Olive pay investors? Principal amount References eBook & Resources Worksheet Difficulty: 2 Medium Learning Objective: 10-05 Report bonds payable and interest expense for bond securities issued at a premium. Check my work 12. value: 10.00 points Required information 3. How much cash was received on the day the bonds were issued (sold)? Cash received 13. value: 10.00 points Required information 4. Were the bonds issued at a premium or a discount? If so, what was the amount of the premium or discount? References eBook & Resources Worksheet Difficulty: 2 Medium Learning Objective: 10-05 Report bonds payable and interest expense for bond securities issued at a premium Check my work 14. value: Required Information 10.00 points 5. How much cash will be disbursed for interest each period and in total over the life of the bonds? Cash disbursed per period Cash disbursed in total 15. value: 10.00 points Required information 6. What is the coupon rate? (Enter your answer as a percentage rounded to 1 decimal place (i.e. 0.123 should be entered as 12.3).) Coupon Rate : % References eBook & Resources Worksheet Difficulty: 2 Medium Learning Objective: 10-05 Report bonds payable and interest expense for bond securities issued at a premium Check my work 16. value: 10.00 points Required Information 7. What was the annual market rate of interest on the date the bonds were issued? (Enter your answer as a percentage rounded to 1 decimal place (i.e. 0.123 should be entered as 12.3).) Market rate of interest % 17. value: 10.00 points Required information 8. What amount of interest expense will be reported on the income statement for Year 2 and Year 3? (Round your final answers to nearest whole dollar amount.) Interest Expense Year 2 Year 3 References eBook & Resources Worksheet Difficulty: 2 Medium Learning Objective: 10-05 Report bonds payable and interest expense for bond securities issued at a premium Check my work 18. value: 10.00 points Required Information 9. What amount will be reported on the balance sheet at the end of Year 2 and Year 3? Bonds Payable Year 2 Year 3
