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Tome Insert Draw Page Layout Formulas Data Review View O Tell me e Share X - A A Σ E Insert v Calibri (Body) • 11 2 Wrap Text v General 7- * Delete v BIU H $- % > 8 48 Paste E Merge & Center v Conditional Format Formatting as Table Styles Cll Sort & Filter Find & Select Ideas Format v 9Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Check f 6 :x v fx M Bond Par Ameunt 20,000,000 00 LEVEL DEBT Term in Years 20 Debt Service Annualy (P 1,000,000 00 Principa (P) Debt Service(P (D Year Coupon Interest 0 Tax Base with 2 ncr Operating Property Taes Tetal Taes Debt Service Propeorty Ta Rate Cument Ta ase s00,000,000,000 15.3432344 4656.17654 20.000.00000 500.000.000 00 Operating Prop. Ta Rate per $100 valuation 040 1,000,000 00 1,000.000.00 200,000 00 204.000 00 661,46447 0.1N 33853553 1200,000 00 1.204.000.00 02000 02000 662.655 10 032% 33734490 S10.000.000.00 0.1961 0209

Tome Insert Draw Page Layout Formulas Data Review View O Tell me e Share X - A A Σ E Insert v Calibri (Body) • 11 2 Wrap Text v General 7- * Delete v BIU H $- % > 8 48 Paste E Merge & Center v Conditional Format Formatting as Table Styles Cll Sort & Filter Find & Select Ideas Format v 9Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Check f 6 :x v fx M Bond Par Ameunt 20,000,000 00 LEVEL DEBT Term in Years 20 Debt Service Annualy (P 1,000,000 00 Principa (P) Debt Service(P (D Year Coupon Interest 0 Tax Base with 2 ncr Operating Property Taes Tetal Taes Debt Service Propeorty Ta Rate Cument Ta ase s00,000,000,000 15.3432344 4656.17654 20.000.00000 500.000.000 00 Operating Prop. Ta Rate per $100 valuation 040 1,000,000 00 1,000.000.00 200,000 00 204.000 00 661,46447 0.1N 33853553 1200,000 00 1.204.000.00 02000 02000 662.655 10 032% 33734490 S10.000.000.00 0.1961 0209

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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  1. Is it valid to claim in public statements that this bond issue will “pay for itself?”

Adams Excel Exercise 4.xls - Compatibility Mode – Saved to my Mac c AutoSave OFF Home Insert Draw Page Layout Formulas Data Review View O Tell me 2 Share O Comments v A A Σ I Insert v Calibri (Body) 11 ab Wrap Text v General Ex Delete v A v v $ • % 9 Conditional Format Formatting as Table Styles Paste A 00 .00 Cell Sort & Filter Find & Select BIUV E Merge & Center v Ideas Sensitivity H Format v O Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Check for Updates N6 fx A D E G H K M N 1 2 2 Bond Par Amount: 20,000,000.00 LEVEL DEBT 4 Term in Years: 20 5 6 Debt Service Annually (P +1): 1,000,000.00 Year Principal (P) Coupon Interest () Debt Service (P+) Tax Base with 2% Incr. Operating Property Taxes Total Taxes Debt Service Propeorty Tax Rate 7 (DS) 8 Current Tax Base: 500,000,000,000 15,343,823.44 4,656,176.56 20,000,000.00 9 10 Operating Prop. Tax Rate: 11 per $100 valuation 1,200,000.00 1,204,000.00 338,535.53 500,000,000.00 510,000,000.00 0.40 661,464.47 0.18% 1,000,000.00 200,000.00 0.2000 0.2000 662,655.10 664,775.60 2 0.32% 337,344.90 1,000,000.00 204,000.00 0.1961 0.2039 12 3 0.56% 335,224.40 1,000,000.00 520,200,000.00 208,080.00 1,208,080.00 0.1922 0.2078 668.498.34 1,000,000.0o 530,604,000.00 1,212,241.60 0.1885 13 4 0.84% 331,501.66 212,241.60 0.2115 14 5 674,113.73 1.14% 325,886.27 1,000,000.00 541,216,080.00 216,486.43 1,216,486.43 0.1848 0.2152 15 6 681,798.62 1.42% 318,201.38 1.000.000.00 552,040,401.60 220,816.16 1,220,816.16 0.1811 0.2189 Level Debt 691,480.16 1,225,232.48 1,229,737.13 1,234,331.88 1,239,018.51 1,243,798.88 16 7 1.65% 308,519.84 1,000,000.00 563,081,209.63 225,232.48 0.1776 0.2224 17 1,200,000.00 702,889.59 1.93% 297,110.41 1,000,000.00 574,342,833.82 229,737.13 0.1741 0.2259 18 716,455.36 2.14% 283,544.64 1,000,000.00 585,829,690.50 234,331 88 0.1707 0.2293 19 1,000,000.00 10 731,78750 2.28% 268,212.50 1,000,000.00 597,546,284.31 239,01851 0.1674 0.2326 251,527.74 609,497,210.00 20 11 748,472.26 2.42% 1,000,000.00 243,798.88 0.1641 0.2359 800,00000 21 12 766,585.28 2.56% 233,414.72 1,000,000.00 621,687,154.20 248,674.86 1,248,674.86 0.1609 0.2391 600,00000 1,253,648.36 1,258,72133 786,209.87 213,790.13 634,120,897.28 253,648.36 22 13 2.70% 1,000,000.00 0.1577 0.2423 23 14 807,43753 2.82% 192,562.47 1,000,000.00 646,803,315.23 258,721.33 0.1546 0.2454 400,00000 830,207.27 659,739,381.53 672,934,169.16 24 15 2.94% 169,792.73 1,000,000.00 263,895.75 1,263,895.75 0.1516 0.2484 200,00000 25 16 854,615.37 3.05% 145,384.63 1,000,000.00 269,173.67 1,269,173.67 0.1486 0.2514 26 17 880,681.13 3.14% 119,318.87 1.000,000.00 686,392,852.55 274,557.14 1.274.557.14 0.1457 0.2543 0.00 27 1 2 3 4 5 6789 10 11 12 13 14 15 16 17 18 19 20 18 908,334.52 3.20% 91,665.48 1,000,000.00 700,120,709.60 280,048.28 1,280,048.28 0.1428 0.2572 1,285,649 25 1.291.362. 23 28 19 937,401.23 3.26% 62,598.77 1,000,000.00 714.123.123.79 285,649.25 0.1400 0.2600 Seriesi - Series2 29 20 967,960.51 331% 32,039.49 1,000,000.00 728,405,586.26 291,362.23 0.1373 0.2627 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 Level Decreasing + + 86%
Transcribed Image Text:Adams Excel Exercise 4.xls - Compatibility Mode – Saved to my Mac c AutoSave OFF Home Insert Draw Page Layout Formulas Data Review View O Tell me 2 Share O Comments v A A Σ I Insert v Calibri (Body) 11 ab Wrap Text v General Ex Delete v A v v $ • % 9 Conditional Format Formatting as Table Styles Paste A 00 .00 Cell Sort & Filter Find & Select BIUV E Merge & Center v Ideas Sensitivity H Format v O Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Check for Updates N6 fx A D E G H K M N 1 2 2 Bond Par Amount: 20,000,000.00 LEVEL DEBT 4 Term in Years: 20 5 6 Debt Service Annually (P +1): 1,000,000.00 Year Principal (P) Coupon Interest () Debt Service (P+) Tax Base with 2% Incr. Operating Property Taxes Total Taxes Debt Service Propeorty Tax Rate 7 (DS) 8 Current Tax Base: 500,000,000,000 15,343,823.44 4,656,176.56 20,000,000.00 9 10 Operating Prop. Tax Rate: 11 per $100 valuation 1,200,000.00 1,204,000.00 338,535.53 500,000,000.00 510,000,000.00 0.40 661,464.47 0.18% 1,000,000.00 200,000.00 0.2000 0.2000 662,655.10 664,775.60 2 0.32% 337,344.90 1,000,000.00 204,000.00 0.1961 0.2039 12 3 0.56% 335,224.40 1,000,000.00 520,200,000.00 208,080.00 1,208,080.00 0.1922 0.2078 668.498.34 1,000,000.0o 530,604,000.00 1,212,241.60 0.1885 13 4 0.84% 331,501.66 212,241.60 0.2115 14 5 674,113.73 1.14% 325,886.27 1,000,000.00 541,216,080.00 216,486.43 1,216,486.43 0.1848 0.2152 15 6 681,798.62 1.42% 318,201.38 1.000.000.00 552,040,401.60 220,816.16 1,220,816.16 0.1811 0.2189 Level Debt 691,480.16 1,225,232.48 1,229,737.13 1,234,331.88 1,239,018.51 1,243,798.88 16 7 1.65% 308,519.84 1,000,000.00 563,081,209.63 225,232.48 0.1776 0.2224 17 1,200,000.00 702,889.59 1.93% 297,110.41 1,000,000.00 574,342,833.82 229,737.13 0.1741 0.2259 18 716,455.36 2.14% 283,544.64 1,000,000.00 585,829,690.50 234,331 88 0.1707 0.2293 19 1,000,000.00 10 731,78750 2.28% 268,212.50 1,000,000.00 597,546,284.31 239,01851 0.1674 0.2326 251,527.74 609,497,210.00 20 11 748,472.26 2.42% 1,000,000.00 243,798.88 0.1641 0.2359 800,00000 21 12 766,585.28 2.56% 233,414.72 1,000,000.00 621,687,154.20 248,674.86 1,248,674.86 0.1609 0.2391 600,00000 1,253,648.36 1,258,72133 786,209.87 213,790.13 634,120,897.28 253,648.36 22 13 2.70% 1,000,000.00 0.1577 0.2423 23 14 807,43753 2.82% 192,562.47 1,000,000.00 646,803,315.23 258,721.33 0.1546 0.2454 400,00000 830,207.27 659,739,381.53 672,934,169.16 24 15 2.94% 169,792.73 1,000,000.00 263,895.75 1,263,895.75 0.1516 0.2484 200,00000 25 16 854,615.37 3.05% 145,384.63 1,000,000.00 269,173.67 1,269,173.67 0.1486 0.2514 26 17 880,681.13 3.14% 119,318.87 1.000,000.00 686,392,852.55 274,557.14 1.274.557.14 0.1457 0.2543 0.00 27 1 2 3 4 5 6789 10 11 12 13 14 15 16 17 18 19 20 18 908,334.52 3.20% 91,665.48 1,000,000.00 700,120,709.60 280,048.28 1,280,048.28 0.1428 0.2572 1,285,649 25 1.291.362. 23 28 19 937,401.23 3.26% 62,598.77 1,000,000.00 714.123.123.79 285,649.25 0.1400 0.2600 Seriesi - Series2 29 20 967,960.51 331% 32,039.49 1,000,000.00 728,405,586.26 291,362.23 0.1373 0.2627 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 Level Decreasing + + 86%
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