On January 1, 2024, Sandhill issued $5,300,000 , 8 % bonds. Interest is payable semi-annually on June 30 and December 31. The bonds mature on January 1, 2034. The bonds are sold to yield 12%. Click here to view factor table. (a) Your answer is correct. Calculate the issue price of the bonds. (Round factor values calculations to 5 decimal places, eg. 2.55555 and final answer to O decimal places, eg. 25,000) Issue price of bond $ 4084188
On January 1, 2024, Sandhill issued $5,300,000 , 8 % bonds. Interest is payable semi-annually on June 30 and December 31. The bonds mature on January 1, 2034. The bonds are sold to yield 12%. Click here to view factor table. (a) Your answer is correct. Calculate the issue price of the bonds. (Round factor values calculations to 5 decimal places, eg. 2.55555 and final answer to O decimal places, eg. 25,000) Issue price of bond $ 4084188
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please help me.
Thankyou.
Transcribed Image Text:Calculate the issue price of the bonds. (Round factor values calculations to 5 decimal places, eg. 2.55555 and final answer to O decimal
places, eg. 25,000)
Issue price of bond
(b)
$
eTextbook and Media
$
Your answer is partially correct.
4084188
Prepare the amortization table for the first year assuming the effective interest method is used to calculate interest. (Round
answers to O decimal places, e.g. 25,000.)
Cash Interest
Interest Expense
Discount Amortized
Attempts: 1 of 3 used
Carrying Value of Bonds
$
4084188
Transcribed Image Text:On January 1, 2024, Sandhill issued $5,300,000, 8% bonds. Interest is payable semi-annually on June 30 and December 31. The bonds
mature on January 1, 2034. The bonds are sold to yield 12%.
Click here to view factor table.
(a)
Your answer is correct.
Calculate the issue price of the bonds. (Round factor values calculations to 5 decimal places, e.g. 2.55555 and final answer to 0 decimal
places, e.g. 25,000.)
Issue price of bond $
eTextbook and Media
4084188
Attempts: 1 of 3 used
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