Please do not give solution in image format ? And Fast Answering Please And Explain Proper Step by Step. Part 1On April 1, 2023, ET Inc. has available for issue $730,000 bonds due in four years. Interest at the rate of 3.0% is to be paid quarterlyCalculate the issue price if the market interest rate is: (Do not round intermediate calculations. Round the final answers to thenearest whole doller.)a.انفاb.Market InterestRate4%3%2%-Issue Price of theBonds Port 2On October 1, ET Inc. has available for issue a $291,000 bond due in eight years. Interest at the rate of 3.0% is to be paid semiannuallyCalculate the issue price if the market interest rate is: (Do not round intermediate calculations. Round the final answers to 2 decimalplaces)a.b.tMarket InterestRate2%3%3.75%Issue Price of theBonds

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Part 1 On April 1, 2023, ET Inc. has available for issue $730,000 bonds due in four years. Interest at the rate of 3.0% is to be paid quarterly Calculate the issue price if the market interest rate is: (Do not round intermediate calculations. Round the final answers to the nearest whole dollar) a. b. C. Market Interest Issue Price of the Bonds Rate 4% 3% 2%

Part 1 On April 1, 2023, ET Inc. has available for issue $730,000 bonds due in four years. Interest at the rate of 3.0% is to be paid quarterly Calculate the issue price if the market interest rate is: (Do not round intermediate calculations. Round the final answers to the nearest whole dollar) a. b. C. Market Interest Issue Price of the Bonds Rate 4% 3% 2%

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter10: Long-term Liabilities

Section: Chapter Questions

Problem 10.2E

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Wilbury Corporation issued 1 million of 13.5% bonds for 985,071.68. The bonds are dated and issued October 1, 2019, are due September 30, 2020, and pay interest semiannually on March 31 and September 30. Assume an effective yield rate of 14%. Required: 1. Prepare a bond interest expense and discount amortization schedule using the straight-line method. 2. Prepare a bond interest expense and discount amortization schedule using the effective interest method. 3. Prepare adjusting entries for the end of the fiscal year December 31, 2019, using the: a. straight-line method of amortization b. effective interest method of amortization 4. If income before interest and income taxes of 30% in 2020 is 500,000, compute net income under each alternative. 5. Assume the company retired the bonds on June 30, 2020, at 98 plus accrued interest. Prepare the journal entries to record the bond retirement using the: a. straight line method of amortization b. effective interest method of amortization 6. Compute the companys times interest earned (pretax operating income divided by interest expense) for 2020 under each alternative.
On July 1, a company sells 8-year $250,000 bonds with a stated interest rate of 6%. If interest payments are paid annually, each interest payment will be ________. A. $120,000 B. $60,000 C. $7,500 D. $15,000
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9.1 On Jan. 1, 2018, UMPI, Inc. issued $600,000, of 10% bonds, due in 5 years. The bonds pay interest semi-annually on July 1 and January 1. The bonds effective yield 8%. UMPI uses the effective-interest method (see PV Tables next page). Prepare UMPI’s journal entries for a thru c. The January 1 issuance The July 1 interest payment The December 31 adjusting journal entry Prepare a full Bond Amortization Schedule
st ve this K Kendrick Corporation issued $660,000 of 7%, 10-year bonds payable on March 31, 2019. The market interest rate at the date of issuance was 9%, and the bonds pay interest semiannually Kendrick Corporation's year-end is March 31 Read the requirements. 1. Using the PV function in Excel", calculate the issue price of the bonds. (Round your answer to the nearest whole dollar) The issue price of the bonds is 5 Demodocs ex Requirements 1. Using the PV function in Excel, calculate the issue price of the bonds. 2. Prepare an effective-interest amortization table for the bonds through the first three interest payments. Round amounts to the nearest dollar. 3. Record Kendrick Corporation's issuance of the bonds on March 31, 2019, and payment of the first semiannual interest amount and amortization of the bond i discount on September 30, 2019 Explanations are not required. X k answer correct: 3 (1)
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Problem 5:On January 1, 2021, BLITZEN Company issued 10% bonds dated January 1, 2021, with a face amount of ₱8,000,000. The bonds mature on December 31, 2026. For bonds of similar risk and maturity, the market yield is 14%. Interest is paid semi-annually on June 30 and December 31. (Use at most, 4 decimal places for PV factors) J. Prepare the journal entries for 2021K. What is the price of the bonds on January 1, 2021?
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