On July 1, 2021, Vaughn Satellites Corporation issued $1.800.000 of 10-year, 9% bonds to yield a market interest rate of 8% The bonds pay semi-annual interest on July 1 and January 1. Vaughn has a December 31 year end and records adjusting entries annually Vaughn received $1.922.319 when issuing the bonds Click here to view the factor table Prepare an amortization table through January 1.2023 (three interest periods) for this bond issue. (Round all amounts to the nearest dollar, es 5,275) VAUGHN SATELLITES CORPORATION Bond Premium Amortization Semi-annual interest periods Interest to be paid July 1/21 Jan 1/22 July 1/22 Jan 1/23 Interest Expense to be Recorded Premium Amortization Unamortized Premium Bond Carrying Amount
On July 1, 2021, Vaughn Satellites Corporation issued $1.800.000 of 10-year, 9% bonds to yield a market interest rate of 8% The bonds pay semi-annual interest on July 1 and January 1. Vaughn has a December 31 year end and records adjusting entries annually Vaughn received $1.922.319 when issuing the bonds Click here to view the factor table Prepare an amortization table through January 1.2023 (three interest periods) for this bond issue. (Round all amounts to the nearest dollar, es 5,275) VAUGHN SATELLITES CORPORATION Bond Premium Amortization Semi-annual interest periods Interest to be paid July 1/21 Jan 1/22 July 1/22 Jan 1/23 Interest Expense to be Recorded Premium Amortization Unamortized Premium Bond Carrying Amount
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On July 1, 2021, Vaughn Satellites Corporation issued $1.800.000 of 10-year. 9% bonds to yield a market interest rate of 8% The bonds pay semi-annual interest on July 1 and January 1. Vaughn
has a December 31 year end and records adjusting entries annually Vaughn received $1.922.319 when issuing the bonds
Click here to view the factor table
(a)
Prepare an amortization table through January 1, 2023 (three interest periods) for this bond issue (Round all amounts to the nearest dollar, es 5,275)
VAUGHN SATELLITES CORPORATION
Bond Premium Amortization
Semi-annual interest periods Interest to be paid
July 1/21
Jan 1/22
July 1/22
Jan 1/23
Interest Expense to be
Recorded
Premium Amortization
Unamortized
Premium
$
Bond Carrying
Amount
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