Order ID:89JHGSJE83839 | Style:APA/MLA/Harvard/Chicago | Pages:5-10 |
Instructions:
Effective Annual Interest Essay Assignment
BU Curriculum Corporation issued $800,000 of 9% bonds on September 1, 2021, due on September 1, 2026. The interest is to be paid twice a year on March 1 and September 1. The bonds were sold to yield 12% effective annual interest. BU Curriculum Corporation closes its books annually on December 31.
(a) Complete an amortization schedule for the above bond (for all periods) in a similar format as below using Excel. There should only be formulas in your table – NO hardcoded numbers. You can round to the nearest dollar or penny. Use the effective-interest method.
Date | Credit
Cash |
Debit
Interest Expense |
Credit
Bond Discount |
Carrying Amount of Bonds |
Sep. 1, 2021 | Use the NPV or PV formula in Excel; see posted bond excel sheet in the classroom | |||
Mar. 1, 2022 |
(b) Prepare the journal entries for the following:
(c) Compute the interest expense to be reported on the income statement for the year ended December 31, 2021 and December 31, 2022.
(d) This workbook is for your director who may want to print your tables. Therefore, part of your design is to make sure your tables are on one page. You can have multiple pages that print, but your amortization table should not be split onto multiple tables. You can use multiple sheets or place all the requirements on one sheet.
(e) Complete a second amortization schedule for the above bond (for all periods) using the straight-line amortization method (entries are not required).
RUBRIC |
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Excellent Quality 95-100%
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Introduction
45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Literature Support 91-84 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met. |
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Average Score 50-85% |
40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided. |
83-76 points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration. |
52-49 points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met. |
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Poor Quality 0-45% |
37-1 points The background and/or significance are missing. No search history information is provided. |
75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration. |
48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met |
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Effective Annual Interest Essay Assignment |
Effective Annual Interest Essay Assignment