Computing and Journalizing Bond Premiums and Discounts
The team and I already have the answers for both of these problems in question. We have agreed to the answers and are happy with them. I would like a professional to run through the problems and give "correct answers" so I may double check the teams work. If this is possible and can be done, I thank you. My main concern is with my problems P11-6A, (b) and (c), problem P11-7A (3). Traditionally the OTA's will work out the whole problem and post it anyway for review.
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The answers to all but the last set of questions appear in the ...
Solution Summary
This solution, in Excel 2007, demonstrates the computation of a bond premium or discount, the journal entries to record the issuance of the bond at a discount or premium, the preparation of an amortization schedule, and the preparation of journal entries to record the amortization.