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2023 Jan. 1 Purchased for $80,275 an 9.0%, $77,000 bond that matures in 11 years from Hanna Corporation when the market interest rate was 8.4%. There was a $50 transaction fee included in the above-noted payment amount. Interest is paid semiannually beginning June 30, 2023. The acquisition was made with intention to hold to maturity. June 30 Received interest on the Hanna bond. July 1 Paid $119,769 for a Trust Inc. bond with a par value of $122,000 and a six-years term. The bond pays interest quarterly beginning September 30, 2023, at the annual rate of 8.8% ; the market interest rate on the date of purchase was 9.2%. There was a $50 transaction fee included in the above-noted payment amount. Sept. 30 Received interest on the Trust bond. Dec. 31 Received interest on the Hanna and Trust bonds. 31 The fair values of the bonds on this date equalled the fair values. Required: 1. For each of the bond investments, prepare an amortization schedule showing only 2023 and 2024. (Round your intermediate and final answers to the nearest whole dollar amount. Enter all the amounts as positive values.)

2023 Jan. 1 Purchased for $80,275 an 9.0%, $77,000 bond that matures in 11 years from Hanna Corporation when the market interest rate was 8.4%. There was a $50 transaction fee included in the above-noted payment amount. Interest is paid semiannually beginning June 30, 2023. The acquisition was made with intention to hold to maturity. June 30 Received interest on the Hanna bond. July 1 Paid $119,769 for a Trust Inc. bond with a par value of $122,000 and a six-years term. The bond pays interest quarterly beginning September 30, 2023, at the annual rate of 8.8% ; the market interest rate on the date of purchase was 9.2%. There was a $50 transaction fee included in the above-noted payment amount. Sept. 30 Received interest on the Trust bond. Dec. 31 Received interest on the Hanna and Trust bonds. 31 The fair values of the bonds on this date equalled the fair values. Required: 1. For each of the bond investments, prepare an amortization schedule showing only 2023 and 2024. (Round your intermediate and final answers to the nearest whole dollar amount. Enter all the amounts as positive values.)

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 2E: Held-to-Maturity Securities and Amortization of a Discount On January 1, 2019, Kelly Corporation...
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ok ■ nt ] inces 2023 Jan. 1 Purchased for $80,275 an 9.0 %, $77,000 bond that matures in 11 years from Hanna Corporation when the market interest rate was 8.4%. There was a $50 transaction fee included in the above-noted payment amount. Interest is paid semiannually beginning June 30, 2023. The acquisition was made with intention to hold to maturity. June 30 Received interest on the Hanna bond. tien uss made with intention to hold to me July 1 Paid $119,769 for a Trust Inc. bond with a par value of $122,000 and a six-years term. The bond pays interest quarterly beginning September 30, 2023, at the annual rate of 8.8%; the market interest rate on the date of purchase was 9.2%. There was a $50 transaction fee included in the above-noted payment amount. Sept. 30 Received interest on the Trust bond. Dec. 31 Received interest on the Hanna and Trust bonds. 31 The fair values of the bonds on this date equalled the fair values. Required: 1. For each of the bond investments, prepare an amortization schedule showing only 2023 and 2024. (Round your intermediate and final answers to the nearest whole dollar amount. Enter all the amounts as positive values.) Partial Amortization Schedule - Hanna Bond: Period Interest Income Period Ending and inc.. Jan. 1/23 June 30/23 Dec. 31/23 June 30/24 Dec. 31/24 Cash Interest Received Premium Amort. Unamortized Premium Carrying Value
Transcribed Image Text:ok ■ nt ] inces 2023 Jan. 1 Purchased for $80,275 an 9.0 %, $77,000 bond that matures in 11 years from Hanna Corporation when the market interest rate was 8.4%. There was a $50 transaction fee included in the above-noted payment amount. Interest is paid semiannually beginning June 30, 2023. The acquisition was made with intention to hold to maturity. June 30 Received interest on the Hanna bond. tien uss made with intention to hold to me July 1 Paid $119,769 for a Trust Inc. bond with a par value of $122,000 and a six-years term. The bond pays interest quarterly beginning September 30, 2023, at the annual rate of 8.8%; the market interest rate on the date of purchase was 9.2%. There was a $50 transaction fee included in the above-noted payment amount. Sept. 30 Received interest on the Trust bond. Dec. 31 Received interest on the Hanna and Trust bonds. 31 The fair values of the bonds on this date equalled the fair values. Required: 1. For each of the bond investments, prepare an amortization schedule showing only 2023 and 2024. (Round your intermediate and final answers to the nearest whole dollar amount. Enter all the amounts as positive values.) Partial Amortization Schedule - Hanna Bond: Period Interest Income Period Ending and inc.. Jan. 1/23 June 30/23 Dec. 31/23 June 30/24 Dec. 31/24 Cash Interest Received Premium Amort. Unamortized Premium Carrying Value
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