On january 1 2010 ellison co issued 8-year bonds with a, Financial Accounting

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On january 1 2010 ellison co issued 8-year bonds with a

On January 1, 2010, Ellison Co. issued 8-year bonds with a face value of $1,000,000 and a stated interest rate of 6%, payable semi annually on June 30 and December 31. The bonds were sold to yield 8%. Table values are as follows:

Present value of one for eight periods at 6% .627

Present value of one for eight periods at 8% .540

Present value of one for 16 periods at 3% .623

Present value of one for 16 periods at 4% .534

Present value of annuity for eight periods at 6% 6.210

Present value of annuity for eight periods at 8% 5.747

Present value of annuity for 16 periods at 3% 12.561

Present value of annuity for 16 periods at 4% 11.652

The present value of the principal is

$534,000.

$540,000.

$623,000.

$627,000.

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Financial Accounting: On january 1 2010 ellison co issued 8-year bonds with a

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Financial Accounting: On january 1 2010 ellison co issued 8-year bonds with a

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