accounting project 495170

ACCT 2200 Part I?On January 1, 2011, a company sells a 3-year bond with a face value of $48,000 and a stated interest rate of 8%. Because the market interest rate is 6%, the company receives $50,566 for the bond. The company uses the effective interest method of amortization. Fill in Table A. Fill in Table B assuming the market interest rate is 10%, and the company received only $45,613 for the bond and the company uses the effective-interest method.?? Table A?? Period?ended?Cash?paid?Interest?expense?Amortized?premium?Bonds?payable?Premium on?bonds payable?Carrying?value??01/01/11????????12/31/11????????12/31/12????????12/31/13?????????? Table B?? Period?ended?Cash?paid?Interest?expense?Amortized?discount?Bonds?payable?Discount on?bonds payable?Carrying?value??01/01/11????????12/31/11????????12/31/12????????12/31/13???????????Part II?On January 1, 2010, ABC issues $40 million of 8% bonds, due in 15 years, with interest payable semi-annually on June 30 and December 31 each year. Requirement 1:??If the market rate is 7%, will the bonds issue at face amount, a discount, or a premium? Calculate the issue price.??Requirement 2:??If the market rate is 8%, will the bonds issue at face amount, a discount, or a premium? Calculate the issue price. ??Requirement 3:??If the market rate is 9%, will the bonds issue at face amount, a discount, or a premium? Calculate the issue price.???Part III??April 1, 2009—XYZ Corp. today announced that its Board of Directors has declared a cash dividend of $1.18 per share on its 505,500 outstanding preferred shares. The dividend will be paid on May 31, 2009, to preferred shareholders of record at the close of business on May 26, 2009. The Board of Directors also announced a 100% common stock dividend will occur on May 31, 2009, on its 1,010,000 outstanding $0.01 par common stock for stockholders of record on May 26, 2009.??Requirement 1:??Prepare any journal entries that XYZ Corp. should make as the result of information in the preceding…