Homework Answers
| Long term liabilities | ||
| Bonds payable | 175,500 | |
| Add : premium on bonds payable | 26,000 | |
| 201,500 | ||
| Lease liability | 85,500 | |
| Total longterm liabilities | 287,000 |
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The adjusted trial balance for Pharoah Farm Corporation at the end of the current year contained...
Exercise 15-11 The adjusted trial balance for Sunland Farm Corporation at the end of the current...
Exercise 15-11 The adjusted trial balance for Sunland Farm Corporation at the end of the current year contained the following accounts. Interest Payable Lease Liability Bonds Payable, due 2025 Premium on Bonds Payable $8,500 85,700 175,700 30,000 Prepare the long-term liabilities section of the balance sheet. (Enter account name only and do not provide descripti Sunland Farm Corporation Balance Sheet (Partial)
E10-16 The adjusted trial balance for Karr Farm Corporation at the end of the current year...
E10-16 The adjusted trial balance for Karr Farm Corporation at the end of the current year contained the following accounts. Interest Payable a $ 9,000 Bonds Payable, due 2019 1 80,000 Premium on Bonds Payable 32,000 Instructions Prepare the long-term liabilities section of the balance sheet.
The adjusted trial balance for Berk Corporation at December 31, 2019 contained the following accounts: Short-term...
The adjusted trial balance for Berk Corporation at December 31, 2019 contained the following accounts: Short-term Investments, at fair value ............ Investments in stock of 20-50% owned companies, at equity...... Bonds payable, 10% due 2025 ......... Interest payable............. Discount on bonds payable. .................. Lease liability Mortgage notes payable, 9%, due 2030...... Accounts payable..... $ 150,000 180,000 1,000,000 50,000 20,000 50,000 200,000 90,000 Instructions: Prepare the "partial" Balance Sheet of the Berk Corporation in "good" form. Be sure to classify the...
Current Attempt in Progress Novak Corporation's adjusted trial balance contained the following liability accounts at December...
Current Attempt in Progress Novak Corporation's adjusted trial balance contained the following liability accounts at December 31, 2020: Bonds Payable (due in 3 years) $101,320, Accounts Payable 572,600, Notes Payable (due in 90 days) $27.270, Salaries and Wages Payable $5,850, and Income Taxes Payable $8,340. on- Prepare the current liabilities section of the balance sheet. NOVAK CORPORATION Balance Sheet (Partial) port 981 | Axw GP9 ? DU
Novak Corporation's adjusted trial balance contained the following liability accounts at December 31, 2020: Bonds Payable...
Novak Corporation's adjusted trial balance contained the following liability accounts at December 31, 2020: Bonds Payable (due in 3 years) $101.320. Accounts Payable $72,600, Notes Payable (due in 90 days) $27,270, Salaries and Wages Payable $5,850, and Income Taxes Payable $8,340. Prepare the current liabilities section of the balance sheet. NOVAK CORPORATION Balance Sheet (Partial)
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Reporting and Interpreting Bond Disclosures The adjusted trial balance for the Hass Corporation at the end of 2015 contains the following accounts: $30,000 Bond Interest Payable 550,000 9% Bonds Payable due 2017 600,000 10% Bonds Payable due 2016 21,000 Discount on 9% Bonds Payable 3,000 Premium on 8% Bonds Payable 180,000 Zero-Coupon Bonds Payable due 2018 110,000 8% Bonds Payable due 2020 Prepare the long-term liabilities section of the balance sheet. Indicate the proper balance sheet classification for accounts listed...
Current Attempt in Progress The adjusted trial balance for Vaughn Manufacturing at the end of the...
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View Policies Current Attempt in Progress Cullumber Corporationis adjusted trial balance contained the following accounts at December 31, 2020: Retained Earnings $120.900, Common Stock $759.600, Bonds Payable $103.200, Pald-in Capital in Excess of Par-Common Stock $204,800, Goodwill $57,700. Accumulated Other Comprehensive Loss $158.900, and Noncontrolling Interest $38,200. Prepare the stockholders' equity section of the balance sheet. CULLUMBER CORPORATION Balance Sheet (Partial) On
The adjusted trial balance for Lifesaver Corp. at the end of the current year, 2017, contained...
The adjusted trial balance for Lifesaver Corp. at the end of the current year, 2017, contained the following accounts. 5-year Bonds Payable 8% $2,500,000 Interest Payable 50,000 Notes Payable (3 mo.) 40,000 Notes Payable (5 yr.) 165,000 Mortgage Payable ($15,000 due currently) 200,000 Salaries and Wages Payable 18,000 Taxes Payable (due 3/15 of 2018) 25,000 The total non-current liabilities reported on the statement of financial position are Group of answer choices A....
Exercise 15-10 a-b Cullumber Company borrowed $302,000 on January 1, 2020, by issuing a $302,000, 10%...
Exercise 15-10 a-b Cullumber Company borrowed $302,000 on January 1, 2020, by issuing a $302,000, 10% mortgage note payable. The terms call for annual installment payments of $43,000 on December 31. Prepare the journal entries to record the mortgage loan and the first two installment payments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Account Titles and Explanation Debit Credit Indicate the amount of...
Exercise 15-11 The adjusted trial balance for Sunland Farm Corporation at the end of the current year contained the following accounts. Interest Payable Lease Liability Bonds Payable, due 2025 Premium on Bonds Payable $8,500 85,700 175,700 30,000 Prepare the long-term liabilities section of the balance sheet. (Enter account name only and do not provide descripti Sunland Farm Corporation Balance Sheet (Partial)
E10-16 The adjusted trial balance for Karr Farm Corporation at the end of the current year contained the following accounts. Interest Payable a $ 9,000 Bonds Payable, due 2019 1 80,000 Premium on Bonds Payable 32,000 Instructions Prepare the long-term liabilities section of the balance sheet.
The adjusted trial balance for Berk Corporation at December 31, 2019 contained the following accounts: Short-term Investments, at fair value ............ Investments in stock of 20-50% owned companies, at equity...... Bonds payable, 10% due 2025 ......... Interest payable............. Discount on bonds payable. .................. Lease liability Mortgage notes payable, 9%, due 2030...... Accounts payable..... $ 150,000 180,000 1,000,000 50,000 20,000 50,000 200,000 90,000 Instructions: Prepare the "partial" Balance Sheet of the Berk Corporation in "good" form. Be sure to classify the...
Current Attempt in Progress Novak Corporation's adjusted trial balance contained the following liability accounts at December 31, 2020: Bonds Payable (due in 3 years) $101,320, Accounts Payable 572,600, Notes Payable (due in 90 days) $27.270, Salaries and Wages Payable $5,850, and Income Taxes Payable $8,340. on- Prepare the current liabilities section of the balance sheet. NOVAK CORPORATION Balance Sheet (Partial) port 981 | Axw GP9 ? DU
Novak Corporation's adjusted trial balance contained the following liability accounts at December 31, 2020: Bonds Payable (due in 3 years) $101.320. Accounts Payable $72,600, Notes Payable (due in 90 days) $27,270, Salaries and Wages Payable $5,850, and Income Taxes Payable $8,340. Prepare the current liabilities section of the balance sheet. NOVAK CORPORATION Balance Sheet (Partial)
Current Attempt in Progress The adjusted trial balance for Vaughn Manufacturing at the end of the current year, 2021, contained the following accounts. 5-year Bonds Payable 8% Interest Payable Premium on Bonds Payable Notes Payable (3 months.) Notes Payable (5 yr.) Mortgage Payable ($15000 due currently) Salaries and wages Payable Income Taxes Payable (due 3/15 of 2022) $3000000 48000 99000 42000 165000 198000 20000 23000 The total long-term liabilities reported on the balance sheet are O $3363000. O $3348000 $3447000....
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Exercise 15-10 a-b Cullumber Company borrowed $302,000 on January 1, 2020, by issuing a $302,000, 10% mortgage note payable. The terms call for annual installment payments of $43,000 on December 31. Prepare the journal entries to record the mortgage loan and the first two installment payments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Account Titles and Explanation Debit Credit Indicate the amount of...
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