Please show work so I can understand better the FV, PV, FVA. Thank you! ...
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Please show work so I can understand better the FV, PV, FVA. Thank you!
Coney Island Entertainment issues $1,100,000 of 7% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Calculate the issue price of a bond and complete the first three rows of an amortization schedule when: Required: 1. The market interest rate is 7% and the bonds issue at face amount. (FV of $1, PV of $1. FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Round your answers to nearest whole dollar.) Issue price Date Cash Paid Interest Expense Change in Carrying Value Carrying Value 1/1/2021 6/30/2021 12/31/2021 2. The market interest rate is 8% and the bonds issue at a discount. (FV of $1, PV of $1. FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Round your answers to nearest whole dollar.) Issue price Date Cash Paid Change in Interest Expense Canding van Carrying Value Carrying Value 1/1/2021 6/30/2021 12/31/2021 3. The market interest rate is 6% and the bonds issue at a premium. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Round your answers to nearest whole dollar.) Issue price Date Cash Paid Interest Expense Change in Carrying Carrying Value Value 1/1/2021 6/30/2021 12/31/2021
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