TeamEx-4 - Acc 310F - Summer 2010 Class: 11:30 Team Member...

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Acc 310F - Summer 2010 Team Exercise #4 Class: 11:30 Team #: Team Member Name (please print): Team Member Signature: Your team's solution must be turned in on the answer sheet provided. Also, each team member must sign their individual sheet and turn it in with the team's solution to receive credit for the exercise. Please ***alphabetize *** these sheets (or lose 1 point) before they are stapled behind your answer sheet. Western Resources, Inc., sold $10 million of four-year, 10% debentures on July 1, 2007. The bonds sold to yield an effective rate of 9%. Interest is paid annually on June 30. Required 1. Determine the price of the bonds. 2. Prepare an amortization schedule for the bonds. Period Present Value at Beginning of Period Effective Interest Interest Payment Amortization of Principal Value at End of Period 1 2 3 4 3. Using the format presented in the chapter, record the entry to the accounting system that is necessary to recognize interest on the bonds at June 30, 2009 . ASSETS
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TeamEx-4 - Acc 310F - Summer 2010 Class: 11:30 Team Member...

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