Compute the selling price of a single

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Q1. On December 31, -2, $920,000 of 15% bonds were issued. The market interest rate at the time of issuance was 13%. The bonds pay interest on June 30 and December 31 and mature in 20 years. Compute the selling price of a single $1,000 bond on December 31, -2.

Q2. On March 1, -1, Henderson Company issued $630,000 of 3% bonds at 106. The bonds were dated December 31, -2, and pay interest on June 30 and December 31. Compute the cash received from the issuance of bonds.

Q3. On December 31, -1, Thomas Company issued $998,000 of 20-year, 3% bonds at par. The bonds pay interest on June 30 and December 31. Write a Journalize the entries required to issue the bonds on December 31, -1, and to pay interest on June 30, 0.

Q4. On December 31, -2, Galore Company issued $740,000 of 11% bonds. The market interest rate at the time of issuance was 10%. The bonds pay interest on June 30 and December 31 and mature in 8 years. Compute the selling price of the bonds on December 31, -2.

Reference no: EM132509769

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