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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339 Exercise 16
Calculating and recording bonds when stated rate and market rate are different
On January 1, 2012, Trikel, Corp., issued $600,000 of 8.375%, five-year bonds payable when the market interest rate was 10%. Trikel pays interest annually at year-end. The issue price of the bonds was $563,040.
Requirement
1. Create a spreadsheet model to measure interest and bond discount amortization based on the following table:
On January 1, 2012, Trikel, Corp., issued $600,000 of 8.375%, five-year bonds payable when the market interest rate was 10%. Trikel pays interest annually at year-end. The issue price of the bonds was $563,040.
Requirement
1. Create a spreadsheet model to measure interest and bond discount amortization based on the following table:
Explanation
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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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