Sun City issues $47 million of bonds on January 1, 2021 that pay interest semiannually on June 30 and December 31. A portion of the bond amortization schedule appears below: Date Cash Paid Interest Expense Decrease in Carrying Value Carrying Value   01/01/2021       $51,324,372   06/30/2021 $2,350,000 $2,309,597 $40,403 51,283,969   12/31/2021 2,350,000 2,307,779 42,221 51,241,748   1. Were the bonds issued at face amount, a discount, or a premium? multiple choice Discount Premium Face amount 2. What is the original issue price of the bonds? Original price     3. What is the face amount of the bonds?       Face amount   4. What is the stated annual interest rate? (Hint: Be sure to provide the annual rate rather than the six-month rate.)     Stated annual interest rate   %   5. What is the market annual interest rate? (Hint: Be sure to provide the annual rate rather than the six-month rate.)       Market annual interest rate   % 6. What is the total cash paid for interest assuming the bonds mature in 20 years?     Interest paid

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A:

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Q: Q6

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A:

Q: emptation Vacations issues $58 million in bonds on January 1, 2021, that pay interest semiannually…

A: Face value of bond is the amount at which the interest is paid over the life of bond.

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A: Answer 1 Face value of the bond is $5,00,000 however same has been issued at discount. If coupon…

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A: Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

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A: Formula: Cash received on the issue of bonds= Face value of bond x Issue rate of bonds.

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A: Amortization schedule of loan: It can be defined as a table that shows the expense of interest,…

Q: On January 1, 2021, Splash City issues $500,000 of 9% bonds, due in 20 years, with interest payable…

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A: Number of half years=Number of years×2=20×2=40 half-years

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A: Bonds are issued to generate funds. When the contract rate of interest is more than the market rate…

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A: Part 1   Date  Particulars Amt(Dr)($) Amt(Cr)($)   Working    30-Jun Interest Expense A/c  Dr…

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Q: [The following information applies to the questions displayed below.] Hillside issues $4,000,000 of…

A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…