! Required information [The following information applies to the questions displayed below.] Cron Corporation is planning to issue bonds with a face value of $770,000 and a coupon rate of 13 percent. The bonds mature in five years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Cron uses the effective-interest amortization method. Assume an annual market rate of interest of 12 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) Note: Use appropriate factor(s) from the tables provided. 4. What is the book value of the bonds on June 30 and December 31 of this year? Note: Round your final answers to nearest whole dollar amount. Bonds payable June 30 December 31
! Required information [The following information applies to the questions displayed below.] Cron Corporation is planning to issue bonds with a face value of $770,000 and a coupon rate of 13 percent. The bonds mature in five years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Cron uses the effective-interest amortization method. Assume an annual market rate of interest of 12 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) Note: Use appropriate factor(s) from the tables provided. 4. What is the book value of the bonds on June 30 and December 31 of this year? Note: Round your final answers to nearest whole dollar amount. Bonds payable June 30 December 31
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Required information
[The following information applies to the questions displayed below.]
Cron Corporation is planning to issue bonds with a face value of $770,000 and a coupon rate of 13 percent. The bonds
mature in five years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January
1 of this year. Cron uses the effective-interest amortization method. Assume an annual market rate of interest of 12 percent.
(FV of $1, PV of $1, FVA of $1, and PVA of $1)
Note: Use appropriate factor(s) from the tables provided.
4. What is the book value of the bonds on June 30 and December 31 of this year?
Note: Round your final answers to nearest whole dollar amount.
Bonds payable
June 30
December 31](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5ae5fcc9-82dd-4c5b-82b0-f327d8378e61%2F61f3cc06-c8a9-4845-95aa-afde0c7efcc1%2Fslw5p7m_processed.png&w=3840&q=75)
Transcribed Image Text:!
Required information
[The following information applies to the questions displayed below.]
Cron Corporation is planning to issue bonds with a face value of $770,000 and a coupon rate of 13 percent. The bonds
mature in five years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January
1 of this year. Cron uses the effective-interest amortization method. Assume an annual market rate of interest of 12 percent.
(FV of $1, PV of $1, FVA of $1, and PVA of $1)
Note: Use appropriate factor(s) from the tables provided.
4. What is the book value of the bonds on June 30 and December 31 of this year?
Note: Round your final answers to nearest whole dollar amount.
Bonds payable
June 30
December 31
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