Please answer with detailed calculations and good formatting and make sure the answer is 100% correct, else leave it for the other tutor to answer. Otherwise i will downvote the answer and report it for uprofessionalism for sure. Please don't use AI or Chat GPT also make sure there is no plagiari.sm. Requirements1.2.Use the PV function in Excel to calculate the issue price of the bonds.Prepare a bond amortization table for the first four semiannual interestperiods.3. Record the issuance of bonds payable on June 30, 2021; the payment ofinterest on December 31, 2021; and the payment of interest on June 30,2022.-X On June 30, 2021, the market interest rate is 5%. Champ Corporation issues $650,000 of 10%, 30-year bonds payable. The bonds pay interest on June 30 and December 31. The company amortizes bondpremium using the effective-interest method.Read the requirements.Requirement 1. Use the PV function in Excel to calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.)The issue price of the bonds is

The bond can be issued at a coupon rate greater than the market interest rate. The bonds have an…

On June 30, 2021, the market interest rate is 5%. Champ Corporation issues $650,000 of 10%, 30-year bonds payable. The bonds pay interest on June 30 and December 31. The company amortizes bond premium using the effective-interest method. Read the requirements. (...)

On June 30, 2021, the market interest rate is 5%. Champ Corporation issues $650,000 of 10%, 30-year bonds payable. The bonds pay interest on June 30 and December 31. The company amortizes bond premium using the effective-interest method. Read the requirements. (...)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 4EA: On January 1, 2018, Wawatosa Inc. issued 5-year bonds with a face value of $200,000 and a stated...

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Concept explainers

Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.

Question

Please answer with detailed calculations and good formatting and make sure the answer is 100% correct, else leave it for the other tutor to answer. Otherwise i will downvote the answer and report it for uprofessionalism for sure. Please don't use AI or Chat GPT also make sure there is no plagiari.sm.

Requirements
1.
2.
Use the PV function in Excel to calculate the issue price of the bonds.
Prepare a bond amortization table for the first four semiannual interest
periods.
3. Record the issuance of bonds payable on June 30, 2021; the payment of
interest on December 31, 2021; and the payment of interest on June 30,
2022.
-
X

On June 30, 2021, the market interest rate is 5%. Champ Corporation issues $650,000 of 10%, 30-year bonds payable. The bonds pay interest on June 30 and December 31. The company amortizes bond
premium using the effective-interest method.
Read the requirements.
Requirement 1. Use the PV function in Excel to calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.)
The issue price of the bonds is

Definition Definition Structural system an enterprise uses to collect, store, report, retrieve, and process financial data. Accounting information systems are used by business analysts, auditors, accountants, and consultants for accurate and efficient access to financial data.

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