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i Data Table $ . $ Note Payable (long-term) Bonds Payable (due 2022) Interest Payable (due...
Sandhill Co. sold $3,190,000, 8%, 10-year bonds on January 1, 2022. The bonds were dated January...
Sandhill Co. sold $3,190,000,
8%, 10-year bonds on January 1, 2022. The bonds were dated January
1, 2022, and pay interest on January 1. The company uses
straight-line amortization on bond premiums and discounts.
Financial statements are prepared annually.
List of Accounts Problem 10-09A Accounts Payable Accounts Receivable Accumulated Depreciation Equipment Accrued Pension Liability Bonds Payable Buildings Cash Common Stock Cost of Goods Sold Current Portion of Long-Term Debt Depreciation Expense Discount on Bonds Payable Dividends Equipment Federal Income Taxes...
Kimmel, Accounting, 6e nt s 96,000 Long-term liabilities Bonds payable (5%, due January 1, 2027) SS,040,000...
Kimmel, Accounting, 6e nt s 96,000 Long-term liabilities Bonds payable (5%, due January 1, 2027) SS,040,000 Less: Discount on bonds payable 50,400 4,989,600 interest a payable annually on an ary į The bonds are callable on any annual interest date. indigo uses straight lie amortization for any bond premium or discount. From December 31, 2016, te bonds wa be outstanding for an additional 10 years (120 months). (a) Journalize the payment of bond interest on January 1, 2017 (b) Prepare...
Blossom Company issued $450,000, 6%, 30 year bonds on January 1, 2022, at 102. Interest is...
Blossom Company issued $450,000, 6%, 30 year bonds on January 1, 2022, at 102. Interest is payable annually on January 1, Blossom uses straight-line amortization for bond premium discount Prepare the journal entries to record the following events. (Credit account des are automatically inde hemount is entered. Do not indent manually) (a) The issuance of the bonds. (b) The accrual of interest and the premium amortization on December 31, 2022. Id The payment of interest on January 1, 2023. (d)...
($ in millions) $198 Long-Term Liabilities 9.6% convertible bonds, callable at 101 beginning in 2022, due...
($ in millions) $198 Long-Term Liabilities 9.6% convertible bonds, callable at 101 beginning in 2022, due 2025 (net of unamortized discount of $2) [note 8] 10.4% registered bonds callable at 104 beginning in 2031, due 2035 (net of unamortized discount of $1) [note 8] Shareholders' Equity Equity-stock warrants Note 8: Bonds (in part) The 9.6% bonds were issued in 2008 at 97.5 to yield 10%. Interest is paid semiannually on June 30 and December 31. Each $1,000 bond is convertible...
Western Electranics completed these selected transactions during March 2018: i Click the icon to view the...
Western Electranics completed these selected transactions during March 2018: i Click the icon to view the transactions.) Requirement 1. Report these items on Western Electronics' balance sheet at March 31, 2018. Select the balance sheet accounts, then calculate each accounts' balance and the total current liabil ities amount at March 31, 2018, (For the FICA tax, be sure I amounts to the nearest whole dollar. If a box is not used in the table leave the box empty; do not...
millions) Long-Term Liabilities 11.01 convertible bonds, callable at 104 beginning in 2022, due 2025 (net of...
millions) Long-Term Liabilities 11.01 convertible bonds, callable at 104 beginning in 2022, due 2025 (net of a rtised discount of $9) (notes) 11.11 registered bonds callable at 107 beginning in 2031, due 2035 (net of unmortized discount of $2) (note 81 Shareholders' Equity Equity-stock warrants 92 Note 8: Bonds (in part) The 11.0% bonds were issued in 2008 at 96.0 to yield 10%. Interest is paid semiannually on June 30 and December 31. Each $1,000 bond is convertible into 50...
At December 31, 2018, Smole Corporation's adjusted trial balance shows the following balances: (Click the icon...
At December 31, 2018, Smole Corporation's adjusted trial balance shows the following balances: (Click the icon to view more information.) EEB (Click the icon to view the balances.) Requirement 1. Prepare the current liability section of Smole Corporation's balance sheet at December 31, 2018. (If applicable, combine the Notes Payable on one line of the statement.) Data Table Smole Corporation Balance Sheet (partial) December 31, 2018 Accrued Warranty Payable $65,000 Account Amount 7% Notes Payable, due April 30, 2019 165,000...
Notes payable (due in 5 years) Accounts payable Bonds payable (due in 10 years) Machinery $...
Notes payable (due in 5 years) Accounts payable Bonds payable (due in 10 years) Machinery $ 5,000 1,500 12,000 6,500 Discount on bonds payable Wages payable Interest payable (due in 2 weeks) Sales tax payable $1,400 700 350 300 Prepare the liabilities section of its classified balance sheet. (Negative amount(s) should be indicated by a minus sign.) WOOHOO CO. Liabilities Section of Balance Sheet December 31 Liabilities Current liabilities Total current liabilities Long-term liabilities Total long-term liabilities Total liabilities Exercise...
Refer to the following list of liability balances at December 31, 2019. Accounts Payable $13,000 Employee...
Refer to the following list of liability balances at December 31, 2019. Accounts Payable $13,000 Employee Health Insurance Payable 1,150 Employee Income Tax Payable 1,200 Estimated Warranty Payable (Due 2020) 1,500 Long-Term Notes Payable (Due 2022) 41,000 FICA-OASDI Taxes Payable 1,160 Sales Tax Payable 770 Mortgage Payable (Due 2023) 8,000 Bonds Payable (Due 2024) 59,000 Current Portion of Long - Term Notes Payable 5,500 What is the total amount of long-term liabilities? A. $100,000 OB. $108,000 OC. $41,000 OD. $49,000...
Problem 10-09A (Part 2) Oriole Company sold $3,250,000, 9%, 10-year bonds on January 1, 2022. The...
Problem 10-09A (Part 2)
Oriole Company sold $3,250,000, 9%, 10-year bonds on January 1,
2022. The bonds were dated January 1, 2022, and pay interest on
January 1. The company uses straight-line amortization on bond
premiums and discounts. Financial statements are prepared
annually.
Prepare the journal entries to record interest expense for 2022
under both of the bond issuances assuming they sold at: (1) 101 and
(2) 95. (Credit account titles are automatically
indented when amount is entered. Do not...
Sandhill Co. sold $3,190,000,
8%, 10-year bonds on January 1, 2022. The bonds were dated January
1, 2022, and pay interest on January 1. The company uses
straight-line amortization on bond premiums and discounts.
Financial statements are prepared annually.
List of Accounts Problem 10-09A Accounts Payable Accounts Receivable Accumulated Depreciation Equipment Accrued Pension Liability Bonds Payable Buildings Cash Common Stock Cost of Goods Sold Current Portion of Long-Term Debt Depreciation Expense Discount on Bonds Payable Dividends Equipment Federal Income Taxes...
Kimmel, Accounting, 6e nt s 96,000 Long-term liabilities Bonds payable (5%, due January 1, 2027) SS,040,000 Less: Discount on bonds payable 50,400 4,989,600 interest a payable annually on an ary į The bonds are callable on any annual interest date. indigo uses straight lie amortization for any bond premium or discount. From December 31, 2016, te bonds wa be outstanding for an additional 10 years (120 months). (a) Journalize the payment of bond interest on January 1, 2017 (b) Prepare...
Blossom Company issued $450,000, 6%, 30 year bonds on January 1, 2022, at 102. Interest is payable annually on January 1, Blossom uses straight-line amortization for bond premium discount Prepare the journal entries to record the following events. (Credit account des are automatically inde hemount is entered. Do not indent manually) (a) The issuance of the bonds. (b) The accrual of interest and the premium amortization on December 31, 2022. Id The payment of interest on January 1, 2023. (d)...
($ in millions) $198 Long-Term Liabilities 9.6% convertible bonds, callable at 101 beginning in 2022, due 2025 (net of unamortized discount of $2) [note 8] 10.4% registered bonds callable at 104 beginning in 2031, due 2035 (net of unamortized discount of $1) [note 8] Shareholders' Equity Equity-stock warrants Note 8: Bonds (in part) The 9.6% bonds were issued in 2008 at 97.5 to yield 10%. Interest is paid semiannually on June 30 and December 31. Each $1,000 bond is convertible...
Western Electranics completed these selected transactions during March 2018: i Click the icon to view the transactions.) Requirement 1. Report these items on Western Electronics' balance sheet at March 31, 2018. Select the balance sheet accounts, then calculate each accounts' balance and the total current liabil ities amount at March 31, 2018, (For the FICA tax, be sure I amounts to the nearest whole dollar. If a box is not used in the table leave the box empty; do not...
millions) Long-Term Liabilities 11.01 convertible bonds, callable at 104 beginning in 2022, due 2025 (net of a rtised discount of $9) (notes) 11.11 registered bonds callable at 107 beginning in 2031, due 2035 (net of unmortized discount of $2) (note 81 Shareholders' Equity Equity-stock warrants 92 Note 8: Bonds (in part) The 11.0% bonds were issued in 2008 at 96.0 to yield 10%. Interest is paid semiannually on June 30 and December 31. Each $1,000 bond is convertible into 50...
At December 31, 2018, Smole Corporation's adjusted trial balance shows the following balances: (Click the icon to view more information.) EEB (Click the icon to view the balances.) Requirement 1. Prepare the current liability section of Smole Corporation's balance sheet at December 31, 2018. (If applicable, combine the Notes Payable on one line of the statement.) Data Table Smole Corporation Balance Sheet (partial) December 31, 2018 Accrued Warranty Payable $65,000 Account Amount 7% Notes Payable, due April 30, 2019 165,000...
Notes payable (due in 5 years) Accounts payable Bonds payable (due in 10 years) Machinery $ 5,000 1,500 12,000 6,500 Discount on bonds payable Wages payable Interest payable (due in 2 weeks) Sales tax payable $1,400 700 350 300 Prepare the liabilities section of its classified balance sheet. (Negative amount(s) should be indicated by a minus sign.) WOOHOO CO. Liabilities Section of Balance Sheet December 31 Liabilities Current liabilities Total current liabilities Long-term liabilities Total long-term liabilities Total liabilities Exercise...
Refer to the following list of liability balances at December 31, 2019. Accounts Payable $13,000 Employee Health Insurance Payable 1,150 Employee Income Tax Payable 1,200 Estimated Warranty Payable (Due 2020) 1,500 Long-Term Notes Payable (Due 2022) 41,000 FICA-OASDI Taxes Payable 1,160 Sales Tax Payable 770 Mortgage Payable (Due 2023) 8,000 Bonds Payable (Due 2024) 59,000 Current Portion of Long - Term Notes Payable 5,500 What is the total amount of long-term liabilities? A. $100,000 OB. $108,000 OC. $41,000 OD. $49,000...
Problem 10-09A (Part 2)
Oriole Company sold $3,250,000, 9%, 10-year bonds on January 1,
2022. The bonds were dated January 1, 2022, and pay interest on
January 1. The company uses straight-line amortization on bond
premiums and discounts. Financial statements are prepared
annually.
Prepare the journal entries to record interest expense for 2022
under both of the bond issuances assuming they sold at: (1) 101 and
(2) 95. (Credit account titles are automatically
indented when amount is entered. Do not...
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