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Sandhill Technologies Ltd. issued bonds with a face value of $64,000,000 that mature in 15 years. The bonds carry a 6.0% interest rate and are sold at 104.02 to yield 5.60%. The bonds pay interest semi-annually. (a) Your answer is correct. Complete the first four payments of the bond amortization schedule below: (Round answers to O decimal places, e.g. 125.) Interest Expense Amortization of Bond Premium Balance of Bond Premium Carrying Value of Bonds $2,572,800 $66,572,800 +A 1864038 1862471 1860861 +A 55962 2516838 66516838 57529 2459309 66459309 59139 2400170 66400170 1859205 60795 2339375 66339375

Sandhill Technologies Ltd. issued bonds with a face value of $64,000,000 that mature in 15 years. The bonds carry a 6.0% interest rate and are sold at 104.02 to yield 5.60%. The bonds pay interest semi-annually. (a) Your answer is correct. Complete the first four payments of the bond amortization schedule below: (Round answers to O decimal places, e.g. 125.) Interest Expense Amortization of Bond Premium Balance of Bond Premium Carrying Value of Bonds $2,572,800 $66,572,800 +A 1864038 1862471 1860861 +A 55962 2516838 66516838 57529 2459309 66459309 59139 2400170 66400170 1859205 60795 2339375 66339375

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sandhill Technologies Ltd. issued bonds with a face value of $64,000,000 that mature in 15 years. The bonds carry a 6.0% interest rate and are sold at 104.02 to yield 5.60%. The bonds pay interest semi-annually. (a) Your answer is correct. Complete the first four payments of the bond amortization schedule below: (Round answers to O decimal places, e.g. 125.) Interest Expense Amortization of Bond Premium Balance of Bond Premium Carrying Value of Bonds $2,572,800 $66,572,800 +A 1864038 1862471 1860861 +A 55962 2516838 66516838 57529 2459309 66459309 59139 2400170 66400170 1859205 60795 2339375 66339375
Transcribed Image Text:Sandhill Technologies Ltd. issued bonds with a face value of $64,000,000 that mature in 15 years. The bonds carry a 6.0% interest rate and are sold at 104.02 to yield 5.60%. The bonds pay interest semi-annually. (a) Your answer is correct. Complete the first four payments of the bond amortization schedule below: (Round answers to O decimal places, e.g. 125.) Interest Expense Amortization of Bond Premium Balance of Bond Premium Carrying Value of Bonds $2,572,800 $66,572,800 +A 1864038 1862471 1860861 +A 55962 2516838 66516838 57529 2459309 66459309 59139 2400170 66400170 1859205 60795 2339375 66339375
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