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### Opt_Prob_Solutions_chap_10_Solutions

Course: HA 230, Fall 2006
School: Cornell
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Word Count: 111

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10 Chapter Optional Problem Solutions P106. Req. 1 Computations: Interest: \$700,000 x 8% Present value \$ 700,000 x 0.6209 \$ 56,000 x 3.7908 Issue Price =\$ = = 56,000 434,630 212,285 \$646,915 Req. 2 2006 Interest expense...................................... \$66,617 * 2007 \$66,617 * *\$700,000 - \$646,915 = \$53,085 5 years = \$10,617 + \$56,000 = \$66,617 Req. 3 Cash...

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10 Chapter Optional Problem Solutions P106. Req. 1 Computations: Interest: \$700,000 x 8% Present value \$ 700,000 x 0.6209 \$ 56,000 x 3.7908 Issue Price =\$ = = 56,000 434,630 212,285 \$646,915 Req. 2 2006 Interest expense...................................... \$66,617 * 2007 \$66,617 * *\$700,000 - \$646,915 = \$53,085 5 years = \$10,617 + \$56,000 = \$66,617 Req. 3 Cash paid................................................. 2006 \$56,000 2007 \$56,000 Req. 4 2006 Bonds payable......................................... \$657,532* *\$646,915 + \$10,617 = \$657,532 **\$657,532+ \$10,617 = \$668,149 2007 \$668,149** P107. Req. 1 Computations: Interest: \$1,000,000 x 10% Present value \$ 1,000,000 x 0.5674 \$ 100,000 x 3.6048 =\$ = = 100,000 567,400 360,480 \$927,880 Req. 2 2006 Interest expense...................................... \$927,880 \$111,346* x 12% = \$111,346 **[\$927,880+ (\$111,346- \$100,000)] x 12% = \$112,707 Req. 3 2006 Cash paid................................................. \$100,000 2007 \$100,000 2007 \$112,707** Req. 4 2006 Bonds payable......................................... \$939,226* *\$927,880 + \$11,346 = \$939,226 **\$939,226 + \$12,707 = \$951,933 2007 \$951,933** AP102. (000s): At At At At End End End End of 2006 of 2007 of 2008 of 2009 Case A: Sold at Par Interest expense on the income statement Net liability on balance sheet Case B: Sold at a discount Interest expense on the income statement Net liability on balance sheet Case C: Sold at a premium Interest expense on the income statement Net liability on balance sheet 10 100 12 92 8 108 10 100 12 94 8 106 10 100 12 96 8 104 10 100 12 98 8 102
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