Question

sheridan Company issued 8%, 8-year, $2,461,300 par value bonds that pay interest semiannually on October 1...

sheridan Company issued 8%, 8-year, $2,461,300 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1, 2017, and are issued on that date. The discount rate of interest for such bonds on April 1, 2017, is 12%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What cash proceeds did Sheridan receive from issuance of the bonds? (Round answer to 0 decimal places, e.g. 125.) Cash proceeds from issuance of the bonds are what?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Cash procceds from issuance of bonds are called as bond issue price.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Cullumber Company is about to issue $336,000 of 9-year bonds paying an 11% interest rate, with...
Cullumber Company is about to issue $336,000 of 9-year bonds paying an 11% interest rate, with interest payable annually. The discount rate for such securities is 10%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much can Cullumber expect to receive for the sale of these bonds? (Round answer to 0 decimal places, e.g. 2,575.) Cullumber can expect to receive $enter a dollar amount to be...
Sheridan Company receives a $80,000, 9-year note bearing interest of 10% (paid annually) from a customer...
Sheridan Company receives a $80,000, 9-year note bearing interest of 10% (paid annually) from a customer at a time when the discount rate is 11%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the present value of the note received by Sheridan? (Round answer to 2 decimal places, e.g. 25.25.) enter the present value of the note received in dollars rounded to 2 decimal places
Cali Hardware issued $400,000 of 8%, 20-year bonds. The bonds pay interest semiannually. The market interest...
Cali Hardware issued $400,000 of 8%, 20-year bonds. The bonds pay interest semiannually. The market interest rate at the time of issuance was 10%. Make the journal entry to record the transaction of the issuance of the bonds. Please show all your calculations (i.e., showing me clearly how you calculated the total and related pieces of the total, including the factor from the table). Also, please show your answers carried out to 2 decimal places.
Spiller Corp. plans to issue 12%, 5-year, $460,000 par value bonds payable that pay interest semiannually...
Spiller Corp. plans to issue 12%, 5-year, $460,000 par value bonds payable that pay interest semiannually on June 30 and December 31. The bonds are dated December 31, 2019, and are issued on that date. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places and final answers to nearest whole dollar.) If the market rate of interest for the bonds is...
Concord Railroad Co. is about to issue $330,000 of 8-year bonds paying an 9% interest rate,...
Concord Railroad Co. is about to issue $330,000 of 8-year bonds paying an 9% interest rate, with interest payable semiannually. The discount rate for such securities is 8%. Click below to view the factor tables. Table 1. Future Value of 1 Table 2. Future Value of an Annuity of 1 Table 3. Present Value of 1 Table 4. Present Value of an Annuity of 1 (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How...
vanhoe Company is about to issue $344,000 of 6-year bonds paying an 11% interest rate, with...
vanhoe Company is about to issue $344,000 of 6-year bonds paying an 11% interest rate, with interest payable annually. The discount rate for such securities is 10%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much can Ivanhoe expect to receive for the sale of these bonds? (Round answer to 0 decimal places, e.g. 2,575.) Ivanhoe can expect to receive $enter a dollar amount to be...
Sunland Company is about to issue $450,000 of 10-year bonds paying an 11% interest rate, with...
Sunland Company is about to issue $450,000 of 10-year bonds paying an 11% interest rate, with interest payable annually. The discount rate for such securities is 13%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) In this case, how much can Sunland expect to receive from the sale of these bonds? (Round answer to 0 decimal places, e.g. 2,575.)
Wildhorse Co. earns 9% on an investment that will return $530,000 9 years from now. Click...
Wildhorse Co. earns 9% on an investment that will return $530,000 9 years from now. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the amount Wildhorse should invest now to earn this rate of return? (Round answer to 2 decimal places, e.g. 5,275.25.) Wildhorse Co. should invest $enter an amount to be invested in dollars rounded to 2 decimal places Blossom Company earns 4% on...
Trader Joes issues $5,000,000 of 8%, 4-year bonds dated January 1, 2013, that pay interest semiannually...
Trader Joes issues $5,000,000 of 8%, 4-year bonds dated January 1, 2013, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of 5,030,00 Prepare the January 1, 2013, journal entry to record the issuance. For each semiannual period, compute the cash payment, the straight-line premium or discount amortization the bond interest expense Cash proceeds= Cash proceeds= Bonds interest expense= cash interest paid + bond discount Bonds interest expense= Bonds interest expense= Bonds...
Concord Corporation is about to issue $290,000 of 10-year bonds paying an 12% interest rate, with...
Concord Corporation is about to issue $290,000 of 10-year bonds paying an 12% interest rate, with interest payable annually. The discount rate for such securities is 10%. Click here to view the factor table 1. Table 2 Table 3 Table 4 How much can Concord expect to receive for the sale of these bonds? (For calculation purposes, use 5 decimal places as displayed in the factor table provided,e.g. 5.25471. Round answer to 0 decimal places, e.g. 2,525.)
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT