Bringham Company issues bonds with a par value of \$540,000. The bonds mature in 6 years and pay 9% annual interest in semiannual payments. The annual...
View the step-by-step solution to:

Question

# Can you please help with this problem please?

Bringham Company issues bonds with a par value of \$540,000. The bonds mature in 6 years and pay 9% annual interest in
semiannual payments. The annual market rate for the bonds is 12%. (Table B.1, Table B.2, Table B.3, and Table B.4) (Use appropriate
factor(s) from the tables provided.)
1. Compute the price of the bonds as of their issue date.
2. Prepare the journal entry to record the bonds' issuance.
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Compute the price of the bonds as of their issue date. (Round all table values to 4 decimal places, and use the rounded table
values in calculations. Round intermediate calculations to the nearest dollar amount.)
Table Values are Based on:
n=
i =
Cash Flow
Table Value
Amount
Present Value
Par (maturity) value
Interest (annuity)
Price of bonds
\$
&lt; Required 1
Required 2 &gt;

### Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

### -

Educational Resources
• ### -

Study Documents

Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

Browse Documents
• ### -

Question & Answers

Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

Ask a Question