C20fxAВCG2021b)Annual Market Rate6.00%22Semiannual Interest Payment:$17,50023PV of Face Amount:24+ PV of Interest Payments:25Bond Selling Price:2627 2. Use the answer either "Premium" or "Discount" to the following items.2829 The bond in (a) sold at a:Discount30 The bond in (b) sold at a:Premium3132 3. Use the Excel PV function to verify the selling prices of the bonds.33a)Annual Market Rate9%34Bond Selling Price3536 b)Annual Market Rate6%37Bond Selling Price383940 C20fxAВCOn January 1, Ruiz Company issued bonds as follows:34Face Amount:$500,0005Number of Years:15Stated Interest Rate:7%7Interest payments per year28.9.Required:10 1) Calculate the bond selling price given the two market interest rates below.11Use formulas that reference data from this worksheet and from the appropriate future or present value tables (found by clicking the tabs at the bottor12 this worksheet).13Note: Rounding is not required.1415a)Annual Market Rate9%16Semiannual Interest Payment:$17,50017PV of Face Amount:18PV of Interest Payments:19Bond Selling Price:0.002021b)Annual Market Rate6.00%22Semiannual Interest Payment:$17,50023PV of Face Amount:24PV of Interest Payments:25Bond Selling Price:%3D26A Future Value of Annuity of $1A Present Value of Annuity of $1A Graded WorksheetII

On January 1, Ruiz Company issued bonds as follows: Face Amount: $500,000 Number of Years: 15 Stated Interest Rate: 7% Interest payments per year Required: 1) Calculate the bond selling price given the two market interest rates below. Use formulas that reference data from this worksheet and from the appropriate future or present value tables (found by clicking th this worksheet). Note: Rounding is not required. a) Annual Market Rate 9%

On January 1, Ruiz Company issued bonds as follows: Face Amount: $500,000 Number of Years: 15 Stated Interest Rate: 7% Interest payments per year Required: 1) Calculate the bond selling price given the two market interest rates below. Use formulas that reference data from this worksheet and from the appropriate future or present value tables (found by clicking th this worksheet). Note: Rounding is not required. a) Annual Market Rate 9%

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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Hartford Research issues bonds dated January 1 that pay interest semiannually on June 30 and December 31. The bonds have a $39,000 par value and an annual contract rate of 8%, and they mature in 10 years. (Table B.1, Table B.2, Table B.3, and Table B.4) Note: Use appropriate factor(s) from the tables provided. Round all table values to 4 decimal places, and use the rounded table values in calculations. Required: Consider each separate situation. 1. The market rate at the date of issuance is 6%. (a) Complete the below table to determine the bonds' issue price on January 1. (b) Prepare the journal entry to record their issuance. 2. The market rate at the date of issuance is 8%. (a) Complete the below table to determine the bonds' issue price on January 1. (b) Prepare the journal entry to record their issuance. 3. The market rate at the date of issuance is 10%. (a) Complete the below table to determine the bonds' issue price on January 1. (b) Prepare the journal entry to record their…
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