question archive  Exercise 10-9 (Algo) Straight-Line: Amortization of bond premium LO P3 Quatro Co

 Exercise 10-9 (Algo) Straight-Line: Amortization of bond premium LO P3 Quatro Co

Subject:AccountingPrice: Bought3

 Exercise 10-9 (Algo) Straight-Line: Amortization of bond premium LO P3 Quatro Co. issues bonds dated January 1, 2020, with a par value of $820,000. The bonds annual contract rate is 10%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of Issuance is 8%, and the bonds are sold for $862,972 1. What is the amount of the premium on these bonds at issuance? 2. How much total bond interest expense will be recognized over the life of these bonds? 3. Prepare a straight-line amortization table for these bonds. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required What is the amount of the premium on these bonds at issuance? Premium Required 1 Required 2 Required 3 How much total bond interest expense will be recognized over the life of these bonds? Total Bond Interest Expense Over Life of Bonds: Amount repaid payments of Par value at maturity Total repaid Less amount borrowed Total bond interest expense Required 1 Required 2 Required 3 Prepare a straight-line amortization table for these bonds. (Round your intermediate calculati amount.) Carrying Value Semiannual Interest Unamortized Period-End Premium 01/01/2020 06/30/2020 12/31/2020 06/30/2021 12/31/2021 06/30/2022 12/31/2022

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