Bond Premium, Entries for Bonds Payable Transactions Rodgers Corporation produces and sells football equipment. On July

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Bond Premium, Entries for Bonds Payable Transactions Rodgers Corporation produces and sells football equipment. On July

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Bond Premium Entries For Bonds Payable Transactions Rodgers Corporation Produces And Sells Football Equipment On July 1
Bond Premium Entries For Bonds Payable Transactions Rodgers Corporation Produces And Sells Football Equipment On July 1 (26.63 KiB) Viewed 87 times
Bond Premium Entries For Bonds Payable Transactions Rodgers Corporation Produces And Sells Football Equipment On July 2
Bond Premium Entries For Bonds Payable Transactions Rodgers Corporation Produces And Sells Football Equipment On July 2 (23.07 KiB) Viewed 87 times
Bond Premium Entries For Bonds Payable Transactions Rodgers Corporation Produces And Sells Football Equipment On July 3
Bond Premium Entries For Bonds Payable Transactions Rodgers Corporation Produces And Sells Football Equipment On July 3 (25.86 KiB) Viewed 87 times
Bond Premium, Entries for Bonds Payable Transactions Rodgers Corporation produces and sells football equipment. On July 1, 20Y1, Rodgers issued $48,300,000 of 10-year, 14% bonds at a market (effective) interest rate of 13%, receiving cash of $50,961,122. Interest on the bonds is payable semiannually on December 31 and June 30, The fiscal year of the company is the calendar year , Required: For all yournal entries. It an amount box does not require an entry, leave it blank. 1. Journalize the entry to record the amount of cash proceeds from the Issuance of the bonds on July 1, 2071 50,91,122 Premis Bonds Biale bonsai 21,123 4x Jon Chewy Bonos Doble is wlways recorded at face value. Any difference in issue price is reflected in a premium or discount account 2. Journalize the entries to record the following The first manual interest payment on December 31, 2011, ond Use amortization of the bond premium in the straight line method found to the dewest dollar 331242X be 27 X .
1381.000 Do The straight-line method of amortization provides equal amounts of amortization over the life of the bond The interest payment on June 30, 2012, and the amortization of the bond premium, using the straight-line method. Round to the nearest dollar 30 The string method of amortization provides al amounts of amortisation over the life of the bond 3. Determine the rest expens for 201. Round to the nearest dolar 4 Will the band proceeds wys beter than the amount of the bonds when the contractes tran theaters
3. Determine the total interest expense for 2011. Round to the nearest dollar 4. Will the bond proceeds always be greater than the face amount of the bonds when the contract rate is greater than the market rate of Interest? 5. Compute the price of $50,961, 122 received for the bonds by using the present value tables in Appendix A. Round your PV values to s decimal places and the final answers to the nearest dollar. Your total may vary slightly from the price given due to rounding differences. Present vakje of the face amount Present value of the semi-annual interest payments Price received for the bonds Calculate the present value of the amount of the bondel using the the present Value of $1 table Calculate the present al cine semiautot payments by using the Present Value of an Annuity or stable
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