Exercise 9-20 (Algo) Record the early retirement of bonds issued at a premium (LO9-6) [The following information applies to the questions displayed below.] On January 1, 2024, White Water issues $400,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 7% and the bonds issued at $436,784. Exercise 9-20 (Algo) Part 1 Required: 1. Using an amortization schedule, show that the bonds have a carrying value of $432,116 on December 31, 2026. (Round your fina answers to the nearest whole dollar.) Date Cash Paid Interest Expense Change in Carrying Value Carrying Value 01/01/2024 06/30/2024 12/31/2024 06/30/2025 12/31/2025 06/30/2026 12/31/2026
Exercise 9-20 (Algo) Record the early retirement of bonds issued at a premium (LO9-6) [The following information applies to the questions displayed below.] On January 1, 2024, White Water issues $400,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 7% and the bonds issued at $436,784. Exercise 9-20 (Algo) Part 1 Required: 1. Using an amortization schedule, show that the bonds have a carrying value of $432,116 on December 31, 2026. (Round your fina answers to the nearest whole dollar.) Date Cash Paid Interest Expense Change in Carrying Value Carrying Value 01/01/2024 06/30/2024 12/31/2024 06/30/2025 12/31/2025 06/30/2026 12/31/2026
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 1RE
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