Silcon Company issued $800,000 of 6%, 10-year bonds on one of its semi-annual interest dates for $690,960 to yield an effective annual rate of 8%. The effective interest method of amortization is to be used. What amount of discount (to the nearest dollar) should be amortized for the first 6...

On March 1, 2009, five-year bonds are sold for $508,026 that have a face value of $500,000 n an interest rate of 10%. Interest is paid semi-annually on March 1 and September 1. Using the straight-line amortization method, prepare the borrower's journal entries on - March 1, 2009 - September 1,...

Recorded the payment of semiannual interest on the bonds issued in (c) and the amortization of the premium for six months. The amortization was determined using the straight-line method. The information from (c) is Issued $8,000,000 of 10-year, 7% bonds at 110, with interest payable...

On the first day of its fiscal year. Ellis co. issued $12000000 of five year, 10% bonds to finance its operations of producing and selling home improvements products. Interest is payable semiannually. The bonds were issued at an effective interest rate of 12%, resulting in Ellis company receiving...

cost of rental equipment is $486,902, accum. Amortization is $418,713, net book value for 2006 is $68,169 and 2005 is $74,018. Amortization of rental equipment for the year amounted to $22,205 (2005 - $14,379). I need to calculate the cost for year 2007, the accum. Amort. For 2007 and net book...