Use the PV function in Excel to calculate the issue price of the bonds Prepare a bond amortization table for the first four semiannual interest periods Record the issuance of bonds payable on June 30, 2021; the payment of interest on December 31, 2021, and the payment of interest on June 30, 2022
Use the PV function in Excel to calculate the issue price of the bonds Prepare a bond amortization table for the first four semiannual interest periods Record the issuance of bonds payable on June 30, 2021; the payment of interest on December 31, 2021, and the payment of interest on June 30, 2022
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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
Transcribed Image Text:On June 30, 2021, the market interest rate is 8%. Team Corporation issues $700,000 of 11%, 30-year bonds payable. The bonds pay interest on June 30 and December 31. The
company amortizes bond premium using the effective-interest method
Read the requirements
Requirement 1. Use
The issue price of th
Requirement 2. Pre
Enter the issue date
Semiannual
Interest Period
Jun 30, 2021
Requirements
1. Use the PV function in Excel to calculate the issue price of the bonds
2. Prepare a bond amortization table for the first four semiannual interest
periods
3.
Record the issuance of bonds payable on June 30, 2021; the payment of
interest on December 31, 2021, and the payment of interest on June 30,
2022
Print
Done
- X
ole dollar)
nswers to the nearest whole dollar)
Next
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