Accounting Questions

Anonymous
timer Asked: Mar 4th, 2018
account_balance_wallet $35

Question description

I need answers to the questions attached. There are screenshots to the questions and of the tables for references. There are various journals that need to be filled out. I have plugged in some numbers for a few of them, but I'm not sure if they're correct or not. If necessary, please feel free to delete those numbers and put in correct ones. It looks like a lot, but it's not. I just had to take a screenshot for each little thing. I really would appreciate the help.

Tutor Answer

Missmourine
School: New York University

Attached.

Introduction to Fhancial

C

Connect

Secure https://newconnect.mheducation.com/tbow/connect.htrn•

10 Homework

O

C)

x

ACL X?

Reader

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On January 2017,

Wayne

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Exercise 10-3A Computing bond interest and price; recording bond issuance LO C2
s.ss
Bringham Company issues bonds With a par value Of $630,000 on their stated issue date. The bonds mature in 7 years and pay points
annual interest
in semiannual payments. On the issue date, the annual market rate for the bonds is 10%.
ECONOMICS and
(Use appropriate factor(s) from the tables
provided.)
1. What is the amount of each semiannual interest payment for these bonds?
2. HOW many semiannual interest payments Will be made on these bonds over their life?
3. use the interest rates given to select whether the bonds are issued at par, at a discount, or at a premium.
4. Compute the price of the bonds as of their issue date.
S. Prepare the journal entry to record the bonds' issuance.

hot

Complete this question by entering your answers in the tabs below.

Req 1 to 3

Req 4

Screen Shot_
2018-0328.13 PM

Req 5

Compute the price of the bonds as of their issue date. (Round all table values to 4 decimal places, and use the rounded table values in
calculations. Round intermediate calculations to the nearest dollar amount.)

Table Value
Par (maturity) value

0.5051

Interest (annuity)
price of bonds

98986

630.000

318.213

s 25.200
567.658

It03
< Prey

1'

to

ACL X

8 of 18

Connect

Next >

x

1.2017.

Wayne

C O Secure https:,'/newconnect.mheducation.com/tbow/connect.htrn'

RANDOM CD

Ch 10 Homework O
my
MOWS COLLEGE STUFF

Exercise 10-3A Computing bond interest and price; recording bond issuance LO C2
s.ss

Bringham Company issues bonds With a par value Of $630,000 on their stated issue date. The bonds mature in 7 years and pay annual interest in semiannual
payments. On the issue date, the annual market rate for the bonds is 10%.
-ECONOMICS and
(Use appropriate factor(s) from the tables
provided.)
1. What is the amount of each semiannual interest payment for these bonds?
2. HOW many semiannual interest payments Will be made on these bonds over their life?
3. use the interest rates given to select whether the bonds are issued at par, at a discount, or at a premium.
4. Compute the price of the bonds as of their issue date.
S. Prepare the journal entry to record the bonds' issuance.

hot

Complete this question by entering your answers in the tabs below.

Req 1 to 3

Req 4

Screen Shot.
2018-0328.13 PM

Req 5

Prepare the journal entry to record the bonds' issuance. (Round Intermediate calculations to the nearest dollar amount.)

V'"

list

entry

<

of

Next

Introduction to Fhancial

C

Connect

Secure https://newconnect.mheducation.com/tbow/connect.htrn•

10 Homework

O
Cash

567.658

Discount on bonds payable

62,342

Bonds payable

630,000

Prey
C)

x

ACL X?

8 18

>

Reader

Wayne

O
RANDOM CD

Ch
aleck my
MOWS COL...

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