CH 17 Solutions - EXERCISE 17-1 (a) 1 (b) 2 (c) 1 (d) 2 (e)...

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Unformatted text preview: EXERCISE 17-1 (a) 1 (b) 2 (c) 1 (d) 2 (e) 3 (f) 2 EXERCISE 17-3 (a) January 1, 2009 Held-to-Maturity Securities................................ 537,907.40 Cash.............................................................. 537,907.40 (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 1/1/09 $537,907.40 12/31/09 $60,000 $53,790.74 $6,209.26 531,698.14 12/31/10 60,000 53,169.81 6,830.19 524,867.95 12/31/11 60,000 52,486.80 7,513.20 517,354.75 12/31/12 60,000 51,735.48 8,264.52 509,090.23 12/31/13 60,000 50,909.77* * 9,090.23 500,000.00 *Rounded by 75. (c) December 31, 2009 Cash........................................................................ 60,000 Held-to-Maturity Securities.......................... 6,209.26 Interest Revenue........................................... 53,790.74 (d) December 31, 2010 Cash........................................................................ 60,000 Held-to-Maturity Securities.......................... 6,830.19 Interest Revenue........................................... 53,169.81EXERCISE 17-4 (a) January 1, 2009 Available-for-Sale Securities................................ 537,907.40 Cash...................................................................
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This note was uploaded on 10/24/2011 for the course ACCT 316 taught by Professor Debessay,a during the Spring '08 term at University of Delaware.

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CH 17 Solutions - EXERCISE 17-1 (a) 1 (b) 2 (c) 1 (d) 2 (e)...

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