On June 30, 2021, the market interest rate is 5%. Team Corporation issues $600,000 of 10%, 25-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 . 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 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. Print Done

On June 30, 2021, the market interest rate is 5%. Team Corporation issues $600,000 of 10%, 25-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 . 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 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. Print Done

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

On June 30

question attached in ss below

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On June 30, 2021, the market interest rate is 5%. Team Corporation issues $600,000 of 10%, 25-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
Requirements
1
2
3.
Use the PV function Excel to calculate the issue price of the bonds.
Prepare a bond amortization table for the first four semiannual interest
periods.
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.
Print
Done

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