Homework Answers
Add Answer to:
There are 5 questions.
On March 1, 2018, Barker Services issued a 4 % long-term notes...
Please help solve and explain why. On March 1, 2018, Lewis Services issued a 5% long-term...
Please help solve and explain why.
On March 1, 2018, Lewis Services issued a 5% long-term notes payable for $25,000. It is payable over a 5-year term in $5,000 principal installments on March 1 of each year, beginning March 1, 2019. Which of the following entries needs to be made on March 1, 2018? 25,000 25,000 O A. Long - Term Notes Payable Accounts Payable O B. Long - Term Notes Payable Cash 5,000 5,000 25,000 25,000 OC. Cash Long...
Kalan süre: 62:50 Soru 5 On July 1, 2013, Avery Services issued a long-term note payable...
Kalan süre: 62:50 Soru 5 On July 1, 2013, Avery Services issued a long-term note payable for $10,000. It is payable over a 5-year term in $2.000 installments on July 1 of each succeeding year. When the note was issued, the principal amount was recorded in Long-term notes payable and a second entry was made to reclassify the current portion How will this information be shown on the balance sheet dated December 31, 20137 Yanitiniz: O $10,000 shown as current...
Discussion questions for "Chapter 1 1) On July 1, 2013, Avery Services issued a 4% long-term...
Discussion questions for "Chapter 1 1) On July 1, 2013, Avery Services issued a 4% long-term note payable for $10,000. It is payable over a 5-year term in $2,000 principal installments on July 1 of each year. Which of the following entries needs to be made at July 1, 2013 to reclassify the current portion of the note? A) Long-term notes payable 2,000 Cash 2,000 B) Current portion of long-term notes payable 2,000 Long-term notes payable 2,000 C) Long-term notes...
Presented below are four independent situations. (a) on March 1, 2018, Swifty Co, issued at 102...
Presented below are four independent situations. (a) on March 1, 2018, Swifty Co, issued at 102 plus accrued interest $4,140,000, 8% bonds. The bonds are dated January 1, 2018, and pay interest semiannually on July 1 and January 1. In addition, Swifty Co. incurred $29,000 of bond issuance costs. Compute the net amount of cash received by Swifty Co, as a result of the issuance of these bonds. (Round present value factor calculations to 5 decimal places, e.. 1.25124 and...
On January 1, 2018, Reese Incorporated issued bonds with a face value of $300,000, a stated...
On January 1, 2018, Reese Incorporated issued bonds with a face value of $300,000, a stated rate of interest of 8 percent, and a five-year term to maturity. Interest is payable in cash on December 31 of each year. The effective rate of interest was 7 percent at the time the bonds were issued. The bonds sold for $312,300. Reese used the effective interest rate method to amortize bond premium. Required Prepare an amortization table. What item(s) in the table...
On March 1, 2018, Bowan Corporation issued 6% bonds dated January 1, 2018 with a par...
On March 1, 2018, Bowan Corporation issued 6% bonds dated January 1, 2018 with a par value of $800,000. The bonds were sold for the present value of the bonds on March 1, 2018 plus two-month accrued interest. The bonds mature on December 31, 2023. Interest is paid semiannually on Jun 30 and December 31. Bowan's fiscal year ends on December 31 each year. The effective interest rate is 8%. Required: a. Determine the present value the bonds on March...
Problem 16-12 Integrating problem-bonds, leases, taxes (LO16-1, 16-5, 16-8] The long-term liabilitles section of CPS Transportation's...
Problem 16-12 Integrating problem-bonds, leases, taxes (LO16-1, 16-5, 16-8] The long-term liabilitles section of CPS Transportation's December 31, 2017, balance sheet Included the following: (FV of $1, PV of $1, FVA of $1, PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) a. A lease liability with 15 remaining lease payments of $22,000 each, due annually on January 1: $ 188, 309 Lease liability Less: current portion 6,935 $ 181,374 The Incremental...
On January 1, 2017, Concord Corporation issued eight year bonds with a face value of $6070000...
On January 1, 2017, Concord Corporation issued eight year bonds with a face value of $6070000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are: 0.627 0.540 0.623 0.534 6.210 Present value of 1 for 8 periods at 6% Present value of 1 for 8 periods at 8% Present value of 1 for 16 periods at 3% Present value of 1 for 16 periods...
please write the joirnal entries with the debit and credit. 1. On July 1, 2013. Avery Services issued a 4% long-term...
please write the joirnal entries with the debit and
credit.
1. On July 1, 2013. Avery Services issued a 4% long-term note payable for S10,000. It is payable over a 5-year term in $2,000 principal installments on July 1 of each year. Each yearly installment will include both principal repayment of $2,000 and interest payment for the preceding one-year period. Please provide the journal entry needed on July 1, 2014 when the first installment payment is made. (4 points) 2....
Diaz Company issued $84,000 face value of bonds on January 1, 2018. The bonds had a...
Diaz Company issued $84,000 face value of bonds on January 1, 2018. The bonds had a 8 percent stated rate of interest and a ten-year term. Interest is paid in cash annually, beginning December 31, 2018. The bonds were issued at 98. The straight-line method is used for amortization. Required Use a financial statements model like the one shown below to demonstrate how (1) the January 1, 2018, bond issue and (2) the December 31, 2018, recognition of interest expense,...
Please help solve and explain why.
On March 1, 2018, Lewis Services issued a 5% long-term notes payable for $25,000. It is payable over a 5-year term in $5,000 principal installments on March 1 of each year, beginning March 1, 2019. Which of the following entries needs to be made on March 1, 2018? 25,000 25,000 O A. Long - Term Notes Payable Accounts Payable O B. Long - Term Notes Payable Cash 5,000 5,000 25,000 25,000 OC. Cash Long...
Kalan süre: 62:50 Soru 5 On July 1, 2013, Avery Services issued a long-term note payable for $10,000. It is payable over a 5-year term in $2.000 installments on July 1 of each succeeding year. When the note was issued, the principal amount was recorded in Long-term notes payable and a second entry was made to reclassify the current portion How will this information be shown on the balance sheet dated December 31, 20137 Yanitiniz: O $10,000 shown as current...
Discussion questions for "Chapter 1 1) On July 1, 2013, Avery Services issued a 4% long-term note payable for $10,000. It is payable over a 5-year term in $2,000 principal installments on July 1 of each year. Which of the following entries needs to be made at July 1, 2013 to reclassify the current portion of the note? A) Long-term notes payable 2,000 Cash 2,000 B) Current portion of long-term notes payable 2,000 Long-term notes payable 2,000 C) Long-term notes...
Presented below are four independent situations. (a) on March 1, 2018, Swifty Co, issued at 102 plus accrued interest $4,140,000, 8% bonds. The bonds are dated January 1, 2018, and pay interest semiannually on July 1 and January 1. In addition, Swifty Co. incurred $29,000 of bond issuance costs. Compute the net amount of cash received by Swifty Co, as a result of the issuance of these bonds. (Round present value factor calculations to 5 decimal places, e.. 1.25124 and...
Problem 16-12 Integrating problem-bonds, leases, taxes (LO16-1, 16-5, 16-8] The long-term liabilitles section of CPS Transportation's December 31, 2017, balance sheet Included the following: (FV of $1, PV of $1, FVA of $1, PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) a. A lease liability with 15 remaining lease payments of $22,000 each, due annually on January 1: $ 188, 309 Lease liability Less: current portion 6,935 $ 181,374 The Incremental...
On January 1, 2017, Concord Corporation issued eight year bonds with a face value of $6070000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are: 0.627 0.540 0.623 0.534 6.210 Present value of 1 for 8 periods at 6% Present value of 1 for 8 periods at 8% Present value of 1 for 16 periods at 3% Present value of 1 for 16 periods...
please write the joirnal entries with the debit and
credit.
1. On July 1, 2013. Avery Services issued a 4% long-term note payable for S10,000. It is payable over a 5-year term in $2,000 principal installments on July 1 of each year. Each yearly installment will include both principal repayment of $2,000 and interest payment for the preceding one-year period. Please provide the journal entry needed on July 1, 2014 when the first installment payment is made. (4 points) 2....
Most questions answered within 3 hours.
-
For Dijkstra’s shortest path algorithm:
a. Give the Big-O time for Dijkstra’s shortest path algorithm
and...
asked 3 minutes ago -
Phosphorus violates the 'octet rule' in biological molecules,
forming more covalent bonds than expected based on...
asked 6 minutes ago -
A 1.3 eV electron has a 10-4 probability of tunneling
through a 2.4 eV potential barrier....
asked 25 minutes ago -
What is the one ingredient that is common to being successful
with all stakeholders?
profit
trust...
asked 24 minutes ago -
Write an assembly language 32 bit program that reads in lines of
text by a .txt...
asked 26 minutes ago -
what is the density ( in g/L) of hydrogen gas at 29 degrees C and a...
asked 35 minutes ago -
5-6. You are considering three investment alternatives for some
spare cash: Old Reliable Corporation stock (A1),...
asked 27 minutes ago -
Problem 16-02
Receivables Investment
Medwig Corporation has a DSO of 45 days. The company averages
$7,250...
asked 42 minutes ago -
Mr. Brown hired Lowe's Maintenance Services Limited to repair
and paint the exterior wall of his...
asked 42 minutes ago -
When might an index slow down the overall performance of the
database? Choose the best answer....
asked 47 minutes ago -
Due to a recession, expected inflation this year is only 2.25%.
However, the inflation rate in...
asked 49 minutes ago -
Write four functions: (IN PYTHON 3)
1) bound(l) - given a list of integers l, compute...
asked 51 minutes ago