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i need accounting help for free
I need help on how to even start on this problem, I'm so lost!
Southlake Corporation issued $900,000 of 8% bonds on March 1, 19X1. The bonds pay interest on March 1 and September 1 and mature in 10 years. Assume the independent cases that follow. • Case A—The bonds are issued at 100. • Case B—The bonds are issued at 96. • Case C—The bonds are issued at 105. Southlake uses the straight-line method of amortization. For each case answer the following a. Cash inflow on the issuance date b. Total cash outflow through maturity c. Total borrowing cost over the life of the bond issue d. Interest expense for the year ended December 31, 19X1 a. Amortization for the year ended December 31, 19X1 b. Unamortized premium as of December 31, 19X1 c. Unamortized discount as of December 31, 19X1 d. Bond carrying value as of December 31, 19X1 |
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