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1、BondsandLong TermNotes 9 Bonds AtBondIssuanceDate CompanyIssuingBonds InvestorBuyingBonds RecordingBondsatIssuance OnJanuary1 2011 MasterwearIndustriesissued 700 000of12 bonds Interestof 42 000ispayablesemiannuallyonJune30andDecember31 Thebondsmatureinthreeyears Theentirebondissuewassoldinaprivatepl
2、acementtoUnitedIntergroup Inc atfaceamount AtIssuance January1 Masterwear Issuer Cash700 000Bondspayable700 000 United Investor Investmentinbonds faceamount 700 000Cash700 000 DeterminingtheSellingPrice DeterminingtheSellingPrice OnJanuary1 2011 MasterwearIndustriesissued 700 000of12 bonds datedJanu
3、ary1 InterestispayablesemiannuallyonJune30andDecember31 Thebondsmatureinthreeyears Themarketyieldforbondsofsimilarriskandmaturityis14 TheentirebondissuewaspurchasedbyUnitedIntergroup Becauseinterestispaidsemiannually thepresentvaluecalculationsuse a thesemiannualstatedrate 6 b thesemiannualmarketrat
4、e 7 and c 6 3x2 semi annualperiods Presentvalueofanordinaryannuityof 1 n 6 i 7 presentvalueof 1 n 6 i 7 BondsIssuedataDiscount Masterwear Issuer Cash666 633Discountonbondspayable33 367Bondspayable700 000 United Investor Investmentinbonds700 000Discountonbondinvestment33 367Cash666 633 DeterminingInt
5、erest EffectiveInterestMethod Interesteachperiodisrecordedastheeffectivemarketrateofinterestmultipliedbytheoutstandingbalanceofthedebt duringtheinterestperiod Interestisrecordedasexpensetotheissuerandrevenuetotheinvestor Forthefirstsix monthinterestperiodtheamountiscalculatedasfollows 666 633 14 2 4
6、6 664OutstandingBalanceEffectiveRateEffectiveInterest RecordingInterestExpense Theeffectiveinterestiscalculatedeachperiodasthemarketratetimestheamountofthedebtoutstandingduringtheinterestperiod AttheFirstInterestDate June30 Masterwear Issuer Interestexpense46 664Discountonbondspayable4 664Cash42 000
7、 United Investor Cash42 000Discountonbondinvestment4 664Investmentrevenue46 664 700 000 12 2 42 000 666 633 14 2 46 664 46 664 42 000 4 664 BondAmortizationSchedule Hereisabondamortizationscheduleshowingthecashinterest effectiveinterest discountamortization andthecarryingvalueofthebonds 666 633 4 66
8、4 671 297 BondIssuedatPremium OnJanuary1 2011 MasterwearIndustriesissued 700 000of12 bonds datedJanuary1 InterestispayablesemiannuallyonJune30andDecember31 Thebondsmatureinthreeyears Themarketyieldforbondsofsimilarriskandmaturityis10 TheentirebondissuewaspurchasedbyUnitedIntergroup Presentvalueofano
9、rdinaryannuityof 1 n 6 i 6 presentvalueof 1 n 6 i 5 PremiumAmortizationSchedule Hereisabondamortizationscheduleshowingthecashinterest effectiveinterest premiumamortization andthecarryingvalueofthebonds 735 533 5 223 730 310 735 533 5 36 777 BondsSoldataPremium Masterwear Issuer Cash735 533Premiumonb
10、ondspayable35 533Bondspayable700 000 United Investor Investmentinbonds700 000Premiumonbondinvestment35 533Cash735 533 Interestexpenseandinterestrevenuewillberecognizedinamannerconsistentwithbondsissuedatadiscount PremiumandDiscountAmortizationCompared 1 1 11 12 31 13 700 000 735 533 666 633 PremiumA
11、mortization DiscountAmortization WhenFinancialStatementsArePreparedBetweenInterestDates OnMar1 2011 MasterwearIndustriesissued 700 000of12 bonds InterestispayablesemiannuallyonAug31andFeb28 Thebondsmatureinthreeyears Themarketyieldforbondsofsimilarriskandmaturityis14 Theentirebondissuewaspurchasedby
12、UnitedIntergroupatacostof 666 633 700 000 12 2 42 000 666 633 14 2 46 664 Semi annualStatedInterest Aug31 2011EffectiveInterest WhenFinancialStatementsArePreparedBetweenInterestDates beforethesecondinterestdateofFeb28 sowemustaccrueinterestfor4monthsfromAug31toDec31 Year endaccrualofinterestexpensea
13、ndinterestincome Masterwear Issuer Interestexpense31 327Discountonbondspayable3 327Interestpayable28 000 United Investor Interestreceivable28 000Discountonbondinvestment3 327Investmentrevenue31 327 42 000 4 6 28 000 671 297 7 4 6 31 327 31 327 28 000 3 327 WhenFinancialStatementsArePreparedBetweenIn
14、terestDates OnFeb28 thenextinterestpaymentdate thefollowingentrieswouldberecorded Masterwear Issuer Interestexpense23 496Interestpayable21 000Discountonbondspayable2 496Cash42 000 United Investor Cash42 000Discountonbondinvestment2 496Interestreceivable21 000Investmentrevenue23 496 Long TermNotes Ba
15、nk PromissoryNote NotePayable Company Borrower Property goods orservices Theliability long termnotepayable isreportedatitspresentvalue similartotheaccountingforbondspayable Long TermNotes OnJanuary1 2011 SkillGraphics Inc borrowed 700 000cashfromFirstBankandissueda3 year 700 000promissorynote Intere
16、stof 42 000waspayablesemiannuallyonJune30andDecember31 January1 AtIssuance Cash700 000long termNotepayable700 000 Long TermNotes AtEachoftheSixInterestDates AtMaturity Interestexpense42 000Cash42 000 long termNotespayable700 000Cash700 000 InstallmentNotes分期付款 Tocomputecashpaymentusepresentvaluetables Eachpaymentincludesbothaninterestamountandaprincipalamount Interestexpenseorrevenue Effectiveinterestrate OutstandingbalanceofdebtInterestexpenseorrevenuePrincipalreduction Cashamount Interestcompo
