ACC304Week_6Chapter_13HW

ACC304Week_6Chapter_13HW - EXERCISE 13-1(10-15 minutes a 1...

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a. 1 b. 2 c. 1 d. 2 e. 2 f. 3 *EXERCISE 13-16 (15-20 minutes) (a) January 1, 2003 Held-to-Maturity Securities. ......................... 322,744.44 Cash. ....................................................... 322,744.44 (b) Schedule of Interest Revenue and Bond Premium Amortization Effective Interest Method 12% Bonds Sold to Yield 10% Date Cash Received Interest Revenue Premium Amortized Carrying Amount of Bonds 1/1/03 $322,744.44 12/31/03 $36,000 $32,274.44 $3,725.56 319,018.88 12/31/04 36,000 31,901.89 4,098.11 314,920.77 12/31/05 36,000 31,492.08 4,507.92 310,412.85 12/31/06 36,000 31,041.29 4,958.71 305,454.14 12/31/07 36,000 30,545.86 * 5,454.14* 300,000.00 *Rounded by 45¢. (c) December 31, 2003 Cash. ............................................................... 36,000 Held-to-Maturity Securities. .................. 3,725.56 Interest Revenue. ................................... 32,274.44 (d) December 31, 2004 Cash. ............................................................... 36,000 Held-to-Maturity Securities. .................. 4,098.11
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This note was uploaded on 02/11/2010 for the course ACC304 acc304 taught by Professor Unknown during the Winter '09 term at Strayer.

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ACC304Week_6Chapter_13HW - EXERCISE 13-1(10-15 minutes a 1...

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