Question
In: Accounting
Rodgers Corporation produces and sells football equipment. On July 1, Year 1, Rodgers Corporation issued $58,000,000...
Rodgers Corporation produces and sells football equipment. On July 1, Year 1, Rodgers Corporation issued $58,000,000 of 10-year, 10% bonds at a market (effective) interest rate of 9%, receiving cash of $61,772,146. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year.
Compute the price of $61,772,146 received for the bonds by using Table 1, Table 2, Table 3 and Table 4. Round to the nearest dollar. Your total may vary slightly from the price given due to rounding differences.
| Present value of the face amount | $ |
| Present value of the semiannual interest payments | |
| Price received for the bonds |
please explain and answer this question
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Rodgers Corporation produces and sells football equipment. On July 1, Year 1, Rodgers Corporation issued $80,000,000...
Rodgers Corporation produces and sells football equipment. On July
1, Year 1, Rodgers Corporation issued $80,000,000 of 10-year, 11%
bonds at a market (effective) interest rate of 9%, receiving cash
of $90,406,136. Interest on the bonds is payable seminannually on
Dec 31 and June 30. The fiscal year of the company is the calendar
year.
5. Compute the price of $90,406,136 received for the bonds by
using the table 1, table 2, table 3, table 4. Round to the nearest...
Rodgers Corporation produces and sells football equipment. On July 1, Year 1, Rodgers Corporation issued $66,400,000...
Rodgers Corporation
produces and sells football equipment. On July 1, Year 1, Rodgers
Corporation issued $66,400,000 of 10-year, 13% bonds at a market
(effective) interest rate of 11%, receiving cash of $74,335,112.
Interest on the bonds is payable semiannually on December 31 and
June 30. The fiscal year of the company is the calendar year.
Required:
For all journal
entries with a compound transaction, if an amount box does not
require an entry, leave it blank.
1.
Journalize the entry...
Rodgers Corporation produces and sells football equipment. On July 1, Year 1, Rodgers Corporation issued $65,000,000...
Rodgers Corporation produces and sells football equipment. On
July 1, Year 1, Rodgers Corporation issued $65,000,000 of 10-year,
12% bonds at a market (effective) interest rate of 10%, receiving
cash of $73,100,469. Interest on the bonds is payable semiannually
on December 31 and June 30. The fiscal year of the company is the
calendar year. Required: For all journal entries with a compound
transaction, if an amount box does not require an entry, leave it
blank.
1. Journalize the entry...
Rodgers Corporation produces and sells football equipment. On July 1, Year 1, Rodgers Corporation... Rodgers Corporation...
Rodgers Corporation produces and sells football equipment. On
July 1, Year 1, Rodgers Corporation... Rodgers Corporation produces
and sells football equipment. On July 1, Year 1, Rodgers
Corporation issued $65,000,000 of 10-year, 12% bonds at a market
(effective) interest rate of 10%, receiving cash of $73,100,469.
Interest on the bonds is payable semiannually on December 31 and
June 30. The fiscal year of the company is the calendar year.
5. Compute the price of $73,100,469 received for the bonds by...
Rodgers Corporation produces and sells football equipment. On July 1, 20Y1, Rodgers issued $27,500,000 of 10-year,...
Rodgers Corporation produces and sells football equipment. On
July 1, 20Y1, Rodgers issued $27,500,000 of 10-year, 13% bonds at a
market (effective) interest rate of 11%, receiving cash of
$30,786,379. Interest on the bonds is payable semiannually on
December 31 and June 30. The fiscal year of the company is the
calendar year.
Required:
For all journal entries, if an amount box does not require an
entry, leave it blank.
1. Journalize the entry to record the amount of
cash...
Bond Premium, Entries for Bonds Payable Transactions Rodgers Corporation produces and sells football equipment. On July...
Bond Premium, Entries for Bonds Payable Transactions
Rodgers Corporation produces and sells football equipment. On
July 1, Year 1, Rodgers Corporation issued $63,900,000 of 10-year,
11% bonds at a market (effective) interest rate of 10%, receiving
cash of $67,881,708. Interest on the bonds is payable semiannually
on December 31 and June 30.
make sure to do all parts I'll rate
The fiscal year of the company is the calendar year.
Required:
For all journal entries with a compound transaction, if...
Bond Premium, Entries for Bonds Payable Transactions Rodgers Corporation produces and sells football equipment. On July...
Bond Premium, Entries for Bonds Payable Transactions
Rodgers Corporation produces and sells football equipment. On
July 1, Year 1, Rodgers Corporation issued $65,600,000 of 10-year,
13% bonds at a market (effective) interest rate of 11%, receiving
cash of $73,439,508. Interest on the bonds is payable semiannually
on December 31 and June 30. The fiscal year of the company is the
calendar year.
Required:
For all journal entries with a compound transaction, if an
amount box does not require an entry,...
Bond Premium, Entries for Bonds Payable Transactions Rodgers Corporation produces and sells football equipment. On July...
Bond Premium, Entries for Bonds Payable Transactions
Rodgers Corporation produces and sells football equipment. On
July 1, Year 1, Rodgers Corporation issued $65,600,000 of 10-year,
13% bonds at a market (effective) interest rate of 11%, receiving
cash of $73,439,508. Interest on the bonds is payable semiannually
on December 31 and June 30. The fiscal year of the company is the
calendar year.
Required:
For all journal entries with a compound transaction, if an
amount box does not require an entry,...
Bond Premium, Entries for Bonds Payable Transactions Rodgers Corporation produces and sells football equipment. On July...
Bond Premium, Entries for Bonds Payable Transactions
Rodgers Corporation produces and sells football equipment. On
July 1, 20Y1, Rodgers issued $51,100,000 of 10-year, 13% bonds at a
market (effective) interest rate of 12%, receiving cash of
$54,030,319. Interest on the bonds is payable semiannually on
December 31 and June 30. The fiscal year of the company is the
calendar year.
Required:
For all journal entries, if an amount box does not require an
entry, leave it blank.
1. Journalize the...
Bond Premium, Entries for Bonds Payable Transactions Rodgers Corporation produces and sells football equipment. On July...
Bond Premium, Entries for Bonds Payable Transactions
Rodgers Corporation produces and sells football equipment. On
July 1, 20Y1, Rodgers issued $51,100,000 of 10-year, 13% bonds at a
market (effective) interest rate of 12%, receiving cash of
$54,030,319. Interest on the bonds is payable semiannually on
December 31 and June 30. The fiscal year of the company is the
calendar year.
Required:
For all journal entries, if an amount box does not require an
entry, leave it blank.
1. Journalize the...
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