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(Solved) why was the discovery of the human bones important?


The following partial amortization table was developed for a 5.4%, $800,000 5-year bond that pays interest each 30 September and 31 March. The table uses an effective interest rate of 5%. The bond was issued on 1 August 20X1.

 

 

Amortization Schedule, Effective-Interest Method:

  Interest Period Cash Interest Interest Expense Premium Amortization Balance Unamortized Premium Carrying Amount of Bonds
  Opening       $14,003 $814,003
  1 (30 Sept. 20X1) $21,600 $20,350 $1,250   12,753   812,753
  2   21,600   20,319   1,281   11,472   811,472
  3   21,600   20,287   1,313   10,159   810,159
  4   21,600   20,254   1,346     8,813   808,813
  5   21,600   20,220   1,380     7,433   807,433
  6   21,600   20,186   1,414     6,019   806,019
  7   21,600   20,150   1,450     4,569   804,569

 

 

Required:

1-a.

Calculate the issuance proceeds of the bond

1-b. Calculate the issuance proceeds of the accrued interest.

 

 


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Oct 15, 2019

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