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IRINA_888 [86]
2 years ago
12

Legacy issues $660,000 of 5.5%, four-year bonds dated January 1, 2018, that pay interest semiannually on June 30 and December 31

. They are issued at $648,412, and their market rate is 6% at the issue date.
Required:
Determine the total bond interest expense to be recognized over the bonds' life.
Business
1 answer:
dusya [7]2 years ago
6 0

Answer:

Legacy

The total bond interest expense to be recognized over the bond's life is:

= $189,172.82

Explanation:

a) Data and Calculations:

Face value of 5.5% bonds issued = $660,000

Proceeds from the bonds issue =       648,412

Bonds discounts =                                $11,588

Interest payment = semiannually at 2.75% (5.5%/2)

Market interest rate = 6%

Effective semiannual interest rate = 3% (6%/2)

N (# of periods)  8

I/Y (Interest per year)  3

PV (Present Value)  648412

PMT (Periodic Payment)  18150

Results

FV = $982,784.82

Sum of all periodic payments = $145,200.00

Total Interest = $189,172.82

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Define equilibrium price, demand schedule, and supply schedule. Then, briefly explain how demand and supply schedules are used t
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What Is a Demand Schedule?
In economics, a demand schedule is a table that shows the quantity demanded of a good or service at different price levels. A demand schedule can be graphed as a continuous demand curve on a chart where the Y-axis represents price and the X-axis represents quantity.

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Price (per gallon) Quantity Demanded (millions of gallons)
$1.00 800
$1.20 700
$1.40 600
$1.60 550
$1.80 500
$2.00 460
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Table 1. Price and Quantity Demanded of Gasoline


Supply schedule

again using the market for gasoline as an example. Like demand, supply can be illustrated using a table or a graph. A supply schedule is a table, like Table 2, that shows the quantity supplied at a range of different prices. Again, price is measured in dollars per gallon of gasoline and quantity supplied is measured in millions of gallons.

Price (per gallon) Quantity Supplied (millions of gallons)
$1.00 500
$1.20 550
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$1.00 800 500
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2 years ago
Culinary Enterprises manufactures cookware sets and sells the sets to department stores. Culinary expects to sell 2 comma 600 co
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Answer:

The Total Budgeted Sales of May is $944,000

Explanation:

Budgeted sales are those sales which a business estimated in a particular period of time. While budgeting the future value company calculated the sales cost and other expenses to minimize the uncertainty and prepare for the future.

As per given data

In May

Budgeted sales Volume = 3,200 cookwares

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Budgeted Sale value = Budgeted Volume x Budgeted Sales price = 3,200 cookwares x $295 = $944,000

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