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Question: brief exercise 145 part level submission on may 1 2017...

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Brief Exercise 14-5 (Part Level Submission) On May 1, 2017, Ayayai Corporation, a publicly listed corporation, issued $222,800 of five-year, 8% bonds, with interest payable semi-annually on November 1 and May 1. The bonds were issued to yield a market interest rate of 6%. Ayayai uses the effective interest method. Click here to view the factor table. Your answer is correct. Calculate the present value (issue price) of the bonds on May 1 using time value of money tables, a financial calculator, and computer spreadsheet functions. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answer to o decimal places, e.g. 1,251,24.) Present value of the bonds 241806 SHOW LIST OF ACCOUNTSSHOW ANSWER LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor
Your answer is partially correct. Try again. Prepare the journal entry to record the issue of the bonds on May 1. (Round answer to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry for the account titles and enter O for the amounts.) te Account Titles and Explanation Debit Credit May 1 Cash Bonds Payable
Practice Question 1 Your answer is incorrect. Try again. Long-term debt e consists of obligations that are payable within a year or one operating cycle, whichever is longer. O requires the use of long-term assets. O consists of obligations that are not payable within a year or the operating cycle, whichever is longer. O All of the options are correct.
Practice Question 3 Your answer is incorrect. Try again. Under the effective interest method, interest expense O always increases each period that the bonds are outstanding O always decreases each period that the bonds are outstanding. O is the same annual amount as straight-line interest expense. O is the same total amount as straight-line interest expense over the term of the bonds.
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