On January 1, 2017, Ellison Co. issued eight-year bonds with a fasevalue of S6,000,000 and a stated interest rate of6%, payablesemlannually on June 30 and December 31. The bonds were sold toyield 8%. Table values are:Present value of 1 for 8 periods at6%Present value of 1 for 8 periods at8%Use the following to answer question 12:.627.540Present value of 1 for 16 periods at3%Present value of 1 for 16 periods at4%Present value of annuity for 8periods at 6%Present value of annuity for 8periods at 8%Present value of annuity for 16periods at 3%Present value of annuity for 16periods at 4%.623.5346.2105.74712.56111.652hondsissued12. The present value of the interest isA) $2,068,920.B)$2,097,360.C) $2,235,600.D) $2,260,980.

On January 1, 2017, Ellison Co. issued eight-year bonds with a far value of S6,000,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to Use the following to answer question 12: yield 8%. Table values are: .627 Present value of 1 for 8 periods at 6% 540 Present value of 1 for 8 periods at 8% Present value of 1 for 16 periods at 3% Present value of 1 for 16 periods at 4% .623 .534 Present value of annuity for 8 periods at 6% Present value of annuity for 8 periods at 8% Present value of annuity for 16 periods at 3% Present value of annuity for 16 periods at 4% 6.210 5.747 12.561 11.652 12. The present value of the interest is A) $2,068,920. B) $2,097,360. C) $2,235,600. D) $2,260,980.

On January 1, 2017, Ellison Co. issued eight-year bonds with a far value of S6,000,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to Use the following to answer question 12: yield 8%. Table values are: .627 Present value of 1 for 8 periods at 6% 540 Present value of 1 for 8 periods at 8% Present value of 1 for 16 periods at 3% Present value of 1 for 16 periods at 4% .623 .534 Present value of annuity for 8 periods at 6% Present value of annuity for 8 periods at 8% Present value of annuity for 16 periods at 3% Present value of annuity for 16 periods at 4% 6.210 5.747 12.561 11.652 12. The present value of the interest is A) $2,068,920. B) $2,097,360. C) $2,235,600. D) $2,260,980.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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