Bond premium amortization schedule
[DOC File]BEE GEE MOVIE - INITIAL ASSIGNMENT BOND HANDOUT
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, determine the bond selling price and prepare an amortization schedule using the “Effective Interest Amortization Method” as shown in Chp 10 & Appendix “F”. 1) Bee Gee Movie, Inc. plans to issue a $1 million bond offering on January 1, 2015 to finance an upcoming motion picture thriller entitled “Chasing the Accounting Dream”.
[DOCX File]Hahu Zone
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A bond arises from a contract known as a . bond indenture. A bond represents a promise to pay: (1) a sum of money at a designated maturity date, plus (2) periodic interest at a specified rate on the maturity amount (face value). Individual bonds are evidenced by a paper certificate and typically have a $1,000 face value.
[DOC File]Practice Problem 2
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Plymouth Corporation issued $200,000 of 9%, five-year bonds at 99 on January 1, 2000. Interest is paid semi-annually on January 1 and July 1. Plymouth Corporation uses the straight-line method of amortization. This assignment requires you to record transactions related to the issue of bonds and subsequent interest payments in the general journal.
[DOC File]P14-5 (Comprehensive Bond Problem) In each of the ...
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Sep 03, 2010 · Use the effective interest method for discount and premium amortization (construct amortization tables ... Interest Payable 8,333 Schedule of Bond Discount Amortization Effective Interest Method 10% Bonds Sold to Yield 12% Date Credit Cash Debit Interest Expense Credit Bond Discount Carrying Value of Bonds 3/1/01 $236,045 9/1/01 …
[DOC File]Financial Accounting Question Database Fall 2011
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151. The following partial amortization schedule is available for Courtney Company who sold $200,000, five-year, 10% bonds on January 1, 2010 for $208,000 and uses annual straight-line amortization. BOND AMORTIZATION SCHEDULE. Interest Periods. Interest. to be paid. Interest expense. Premium Amortization. Unamortized Premium. Bond Carrying ...
[DOC File]P14-3 Premium Amortization Schedule with Retirement …
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Jun 12, 2010 · P14-3 Premium Amortization Schedule with Retirement Before Maturity The Dorset Corporation issued $600,000 of 13% bonds on January 1, 2009 for $614, 752.24. They are due December 31, 2011,were issued to yield 12%, and pay interest semiannually on June 30 and December 31. The company uses the effective interest method. 1.
[DOC File]Exhibit 5-3: Acceptable Forms of Verification
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Interest from sale of real property (e.g., contract for deed, installment sales contract, etc.) Verification form completed by an accountant, attorney, real estate broker, the buyer, or a financial institution which has copies of the amortization schedule from which interest income for the next 12 months can be obtained.
[DOC File]f01.justanswer.com
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Presented below is an amortization schedule related to Spangler Company's 5-year, $100,000 bond with a 7% interest rate and a 5% yield, purchased on December 31, 2012, for $108,660. Date. Cash Received. Interest Revenue. Bond Premium Amortization. Carrying Amount of Bonds. 12/31/12 $108,660. 12/31/13. $7,000. $5,433. $1,567 107,093. 12/31/14 ...
[DOC File]10 LIABILITIES
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Accounting for a bond premium: an illustration. a. Bond premium: a reduction in the cost of borrowing. b Amortization of the premium . 3. Bond discount and premium in perspective. 4. The concept of present value. a The present value concept and bond prices. 5. Bond prices after issuance - see Case in Point (page . 45. 7) a. Volatility of short ...
[DOC File]CLASS PROBLEM D18-1: INVESTMENTS IN DEBT SECURITIES
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Brown Company’s fiscal year ends on December 31. Brown uses the effective interest method of amortization where appropriate. Required: 1. Verify that the bonds were purchased for $9,578.76 and that the amortization schedule below is accurate. Schedule of Interest Revenue and Bond Premium Amortization – Effective Interest Method
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