the next one i dunno how to type since its a chart

- prepare a schedule showing the amount of discount to be amortized each year for the life of the bond assuming the effective interest method of amortization

 

ok next question since i dont remember the teacher going over half of this

 

I need to get my sleep schedule back in order

 

ok i couldnt skip it... cuz i started thinking it might be on the final

 

ohh another night owl

try reading my accounting it knocked cammie out cold

 

ok so what i did to get the amortization chart info was this ( talking to my self )




(bond payable) 10,000-9241.64 (cash paid) = 758.36 (bond discount )

that goes on the chart some how



the bond discount rate for i guess amortization is


9241.64 x .10= 924.16

10000 x .08 = 800

discount rate amortization = 124.16

 

so you subtract 758.36-124.16=634.2

and from that we use the bond payable of

(10,000-634.2)*.10=936.57-800 = 136.58 ( bond discount for year 2002)

ok now this is making sense but how the hell am i gonna remember it


edit .10%

 

this is confusing i dont know how the hell the book got 800 for cash....

 

blah ok next question this ones taking too long

 

duhh

10,000 X .08 = 800