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##### You said you would accept \$20.00...why are you rej...

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You said you would accept \$20.00...why are you rejecting it again..Terry told me to resubmit it...I did..you rejected it again...here goes..one more time 14-2A On July 1, 2010, Brower Industries Inc. issued \$32,000,000 of 10-year, 12% bonds at an effective interest rate of 13%, receiving cash of \$30,237, 139. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Instructions 1. Journalize the entry to record the amount of cash proceeds from the sale of the bonds. 2. Journalize the entries to record the following: a. The first semiannual interest payment on December 31, 2010, and the amortization of the bond discount, using the straight-line method. (Round to the nearest dollar.) b. The interest payment on June 30, 2011, and the amortization of the bond discount, using the straight-line method. (Round to the nearest dollar.) 3. Determine the total interest expense for 2010. 4. Will the bond proceeds always be less than the face amount of the bonds when the contract rate is less than the market rate of interest? 5.(Appendix 1) Compute the price of \$30,237,139 received for the bonds by using the tables of present value in Appendix A at end of text. (Round to the nearest dollar.) 14-3A Maui Blends, Inc. produces and sells organically grown coffee. On July 1, 2010, Maui Blends, Inc. issued \$3,000,000 of 15-year, 12% bonds at an effective interest rate of 10%, receiving cash of \$3, 461,181. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Instructions 1. Journalize the entry to record the amount of cash proceeds from the sale of the bonds. 2. Journalize the entries to record the following: a. The first semiannual interest payment on December 31, 2010, and the amortization of the bond premium, using the straight-line method. (Round to the nearest dollar.) b. The interest payment on June 30, 2011, and the amortization of the bond premium, using the straight-line method. (Round to the nearest dollar.) 3. Determine the total interest expense for 2010. 4. Will the bond proceeds always be greater than the face amount of the bonds when the contract rate is greater than the market rate of interest? 5. (Appendix 1) Compute the price of \$ 3,461,181 received for the bonds by using the tables of present value in Appendix A at the end of the text. (Round to the nearest dollar.),Terry, spoke with you, and said to re-submit that you would accept the \$20.00....why are you now rejecting it? I am tired of re-submitting it...Please let me know you have accepted it and begin working on it please. Sharon Ragusa

Paper#12954 | Written in 18-Jul-2015

Price : \$25