subject
Business, 12.03.2020 17:02 clarawulf9477

Young Co. issues $800,000 of 10% bonds dated January 1, Year 1. Interest is payable semiannually on June 30 and December 31. The bonds mature in 5 years. The current market rate for similar bonds is 8%. The entire issue is sold on the date of issue. The following values are given: Present Value of Ordinary Annuity Present Value of $1 N Present Value of Present Value Ordinary Annuity of $1 N=10; i=0.04 8.11090 0.67556N=10; i=0.05 7.72173 0.61391(i) What amount of proceeds on the sale of bonds should Young report?

A) $799,997

B) $815,564

C) $849,317

D) $864,884

(ii) Prepare the journal entry to issue the bonds

(iii) Prepare the journal entry to record bond interest paid for year 2 using the effective interest method.

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 21:30
Afreezer manufacturer might purchase sheets of steel, wiring, shelving, and so forth, as part of its final product. this is an example of what sub-classification of business market?
Answers: 1
question
Business, 22.06.2019 09:30
What is the relationship among market segmentation, target markts, and consumer profiles?
Answers: 2
question
Business, 22.06.2019 20:20
Trade will take place: a. if the maximum that a consumer is willing and able to pay is less than the minimum price the producer is willing and able to accept for a good. b. if the maximum that a consumer is willing and able to pay is greater than the minimum price the producer is willing and able to accept for a good. c. only if the maximum that a consumer is willing and able to pay is equal to the minimum price the producer is willing and able to accept for a good. d. none of the above.
Answers: 3
question
Business, 23.06.2019 02:30
On december 1, 2017, bigham corporation pays a dividend of $4.00 on each share of its common stock. vanessa and gena, two unrelated shareholders, each own 5,000 shares of the stock. vanessa has owned her stock for two years while gena purchased her stock on november 3, 2017. how does each shareholder treat the $20,000 dividend from bigham
Answers: 3
You know the right answer?
Young Co. issues $800,000 of 10% bonds dated January 1, Year 1. Interest is payable semiannually on...
Questions
question
Physics, 02.06.2021 02:10
question
History, 02.06.2021 02:10
question
Physics, 02.06.2021 02:10
Questions on the website: 13722367