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Alex_Xolod
1 month ago
8

On June 1, Greendale Corp. issued $700,000, five-year bonds at 8%, with interest payable annually on May 31. The bonds sold for

$728,700 when the market rate of interest was 7%. Greendale uses the effective interest method for amortizing premiums on bonds payable. What is the balance of the premiums on bonds payable account immediately following the first interest payment?
Business
1 answer:
Mariulka [3.4K]1 month ago
5 0

Respuesta:

$23,709

Explicación:

Datos proporcionados en la pregunta:

Monto del bono emitido = $700,000

Duración = 5 años

Tasa de interés = 8%

Monto de venta del bono = $728,700

Tasa de interés de mercado = 7%

Ahora,

Intereses pagados = Monto del bono emitido × Tasa de interés

= $700,000 × 0.08

= $56,000

Gasto por intereses = Monto del bono vendido × Tasa de interés de mercado

= $728,700 × 0.07

= $51,009

Prima no amortizada = Monto de venta del bono - Monto del bono emitido

= $728,700 - $700,000

= $28,700

Monto amortizado = Intereses pagados - Gasto por intereses

= $56,000 - $51,009

= $4,991

Balance de la cuenta de primas sobre bonos a pagar inmediatamente después del primer pago de intereses

= prima no amortizada - Monto amortizado

= $28,700 - $4,991

= $23,709

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