On October 1, 2023, Ross Wind Energy Inc. issued a $1,590,000, 11.5%, seven-year bond. Interest is to be paid annually each October 1. Assume a November 30 year-end. (Use TABLE 14A.1 and TABLE 14A.2.). (Use appropriate factor(s) from the tables provided.)
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- On October 1, 2020, Ross Wind Energy Inc. issued a $1,610,000, 7.0%, seven-year bond. Interest is to be paid annually each October 1. Assume a November 30 year-end. (Use TABLE 14A.1 and TABLE 14A.2.). (Use appropriate factor(s) from the tables provided.) Required: a. Calculate the issue price of the bond assuming a market interest rate of 6% on the date of the bond issue. (Do not round intermediate calculations. Round the final answer to the nearest whole dollar.) Issue price of the bond b. Using the effective interest method, prepare an amortization schedule. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar. Enter all the amounts as positive values.) Dorind Cash Period Dromium Unamortized CarringOn September 30, 2024, the Techno Corporation issued 8% stated rate bonds with a face amount of $200 million. The bonds mature on September 30, 2044 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30. Required: Determine the price of the bonds on September 30, 2024. Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount, not in millions. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Time values are based on: n= i= Cash Flow Interest Principal Price of bonds S S Amount 40 5% 8,000,000 200,000,000 Present ValueOn September 30, 2024, the Techno Corporation issued 8% stated rate bonds with a face amount of $500 million. The bonds mature on September 30, 2044 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30. Required: Determine the price of the bonds on September 30, 2024. Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount, not in millions. (FV of $1. PV of $1, FVA of $1, PVA of $1. FVAD of $1 and PVAD of $1) Time values are based on: Cash Flow Interest Principal Price of bonds Amount Present Value
- Queen Energy Inc. issued bonds on January 1, 2023, that pay interest semiannually on June 30 and December 31. The par value of the bonds is $200,000, the annual contract rate is 12%, and the bonds mature in 10 years. (Use TABLE 14A.1 and TABLE 14A.2.) (Use appropriate factor(s) from the tables provided.) Required: a. For each of these three situations, determine the issue price of the bonds. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) b. For each of these three situations, prepare the journal entry that would record the issuance, assuming the market interest rate at the date of issuance was (1) 10%, (2) 12%, (3) 14%. (Use PV tables in determining the issue price of the bonds. Do not round intermediate calculations. Round the final answers to the nearest whole dollar.)On June 1, 2023, JetCom Inventors Inc. issued a $560,000 8%, three-year bond. Interest is to be paid semiannually beginning December 1, 2023. Required: a. Calculate the issue price of the bond assuming a market interest rate of 9%. (Do not round intermediate calculations. Round the final answer to the nearest whole dollar.) Issue price of the bondOn January 1, 2020, XYZ Co. issued 8-year bonds with a face value of $1,500,000 and a stated (nominal) interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 4%. : Instructions (a) Calculate the selling price of the bonds payable. HINT: You will need to look up the appropriate discount values in the present value tables (b) Prepare the interest amortization table for 2020 only, assuming that amortization is recorded on interest payment dates.
- On June 30, 2021, Singleton Computers issued 6% stated rate bonds with a face amount of $200 million. The bonds mature on June 30, 2036 (15 years). The market rate of interest for similar bond issues was 5% (2.5% semiannualrate). Interest is paid semiannually (3%) on June 30 and December 31, beginning on December 31, 2021.Required:1. Determine the price of the bonds on June 30, 2021.2. Calculate the interest expense Singleton reports in 2021 for these bonds.f. Now assume the date is October 25, 2019. Assume further that a 12%,10-year bond was issued on July 1, 2019, pays interest semiannually (onJanuary 1 and July 1), and sells for $1,100. Use your spreadsheet to findthe bond’s yield.On January 1, 2020, Blindo Corp. issued ten - year, 12% bonds with a face value of $ 500,000, with interest payable semi-annually on June 30 and December 31. At the time, the market rate was 10%. Required: a) Find PMT and Use your calculator to calculate the issue price of the bonds. Round the answer to the nearest dollar. b) Independent of your solution to part a), assume that the issue price was $ 562, 000. Prepare the amortization table for 2020. Round values to the nearest dollar.
- On June 1, 2023, Shebandowan Investors Inc. issued a $4,900,000, 7%, three-year bond. Interest is to be paid semiannually beginning December 1, 2023. Assume that the market rate of interest is 8%. Use TABLE 14A.1 and TABLE 14A.2. (Use appropriate factor(s) from the tables provided.)Required:Part 1Record the following entries: (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.)a. Issuance of the bonds on June 1, 2023b. Payment of interest on December 1, 2023c. Adjusting entry to accrue bond interest and discount amortization on January 31, 2024d. Payment of interest on June 1, 2024Assume Shebandowan Investors Inc. has a January 31 year-end. Part 2Show how the bonds will appear on the balance sheet under non-current liabilities at January 31, 2025. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.)Waterway Ltd. issued a $1,062,000, 10-year bond dated January 1, 2023. The bond was sold to yield 12% effective interest. The bond paid 10% interest on January 1 and July 1 each year. The company's year-end was December 31, and Waterway followed IFRS. Using 1.factor Tables 2. a financial calculator, or 3. Excel function PV, calculate the amount received for the bond, and any discount or premium on the bond. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1 (Round present value factor calculations to 5 decimal places, eg. 1.25124 and final answers to 0 decimal places eg. 58,971.) Proceeds from sale of bond on bond Date $ $ Prepare the journal entries for above transactions. (Round answers to O decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.…Metlock Ltd. issued a $791,000, 10-year bond dated January 1, 2023. The bond was sold to yield 12% effective interest. The bond paid 10% interest on January 1 and July 1 each year. The company's year-end was December 31, and Metlock followed IFRS. Using 1. factor Tables 2. a financial calculator, or 3. Excel function PV, calculate the amount received for the bond, and any discount or premium on the bond. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ORDINARY ANNUITY OF 1. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places e.g. 58,971.) Proceeds from sale of bond Discount on bond Prepare the journal entries for above transactions. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the…