On March 1, 2019, Ford Co. issued $1,000,000, 12% bonds at aprice to yield 10%. The bonds pay interest semi-annually onSeptember 1 and March 1. Bond issue costs of $30,000 were incurredand expensed by Ford Co. The bonds mature on March 1, 2025. Thecompany has a September 30 year-end date.
Show the income statement and balance sheet presentation for therelated bond accounts at September 30, 2019 for Ford Co.
Issue price of the bonds
n = 12 6 years x 2 i/y= 5 PMT = - 1,000,000 x 12% x 6/12 60,000 -FV = 1,000,000 - PV= $1,088,633
May I have the full step by step calculation for theAmortization schedule?
