Need some help witht his one, what are the ancwers? thanks (aditional info in th

Question

Need some help witht his one, what are the ancwers? thanks (aditional info in the first picture)

Portal X CSecure https://edugen.wileyplus.com/ed Kimmel, Financial Accounting, 8e CALCULATOR PRINTER VERSION BACK NEXT ?Question 12 Question 1 On January 1, 2017, Swifty Corporation issued $1,810,000 face value, 696, 10-year bonds at $1,682,873. This price resulted in an effective-interest rate of 7% on the bonds. Swifty uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest January 1 Question 1z Your answer is correct. Prepare the journal entry to record the issuance of the bonds on January 1, 2017. (Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 1,682,873 Discount on Bonds Payable 127127 Question 31 Question 2 Bonds Payable 1,810,000 LINK TO TEXT LINK TO TEXT Attempts: 1 of 3 used ? (b) Prepare an amortization table through December 31, 2019 (three interest periods) for this bond issue. (Round answers to 0 decimal places, e.g. 125.) 805 PM O Type here to search

Explanation / Answer

Amortization table :

Year Interest to be paid Interest expense to be recorded Discount amortization Unamortized discount Bond carrying value Issue date 1682873 1 1810000*6%=108600 1682873*7% = 117801 9201 117926 1692074 2 108600 1692074*7% = 118445 9845 108081 1701919 3 108600 1701919*7% = 119134 10534 97547 1712453

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