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Citywide Company issues bonds with a par value of $85,000. The bonds mature in seven years and pay 10% annual interest in semiannual payments. The annual market rate for the bonds is 8%.
Question 1. Compute the price of the bonds as of their issue date.
Question 2. Prepare the journal entry to record the bonds' issuance.
On January 1, 2015, Water World issues $24.0 million of 5% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. If the market rate is 4%, calculate the issue price. If the market rate is 5%, calculate the i..
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On January 2, 2009, Banno Corporation issued $1,400,000 of 10% bonds at 96 due December 31, 2018. Legal and other costs of $24,500 were incurred in connection with the issue. Interest on the bonds is payable annually each December 31. Loss on redempt..
Services for the initial fee will be performed in 2011. What amount of net unearned franchise fees would Potter report at December 31, 2010?
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