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ACC201 module 8 homework

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Question;Problem 10-1A Computing bond price and recording issuance LO P1Hartford Research issues bonds dated January 1, 2013, that pay interest semiannually on June 30 and December 31. The bonds have a \$32,000 par value and an annual contract rate of 12%, and they mature in 10 years.(Table B.1,Table B.2,Table B.3, andTable B.4)(Use appropriate factor(s) from the tables provided. Round all table values to 4 decimal places, and use the rounded table values in calculations.)Required:Consider each of the following three separate situations.1.The market rate at the date of issuance is 10%.(a)Complete the below table to determine the bonds' issue price on January 1, 2013.(b)Prepare the journal entry to record their issuance.2.The market rate at the date of issuance is 12%.(a)Complete the below table to determine the bonds' issue price on January 1, 2013.b)Prepare the journal entry to record their issuance.3.The market rate at the date of issuance is 14%.(a)Complete the below table to determine the bonds' issue price on January 1, 2013.(b)Prepare the journal entry to record their issuance.

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