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25) Nieva Company had the following liabilities on December...
help me please ? thank you ? 23) The trial balance of Beatriz Company reflected the...
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23) The trial balance of Beatriz Company reflected the following liability account balances on December 31, 2018: Accounts payable 3,800,000 Accrued expense 400,000 Unearned interest income 100,000 Bonds payable 6,800,000 Premium on bonds payable 400,000 Deferred tax liability 800,000 Dividends payable 1,000,000 Income tax payable 1,800,000 Note payable, due January 31, 2019 1,200,000 Note payable, due March 15, 2020 2,000,000 Mortgage payable 1,500,000 Total amount of current liabilities in the statement of financial...
help me please ? thank you ? 20) Erik Killmonger Company reported the following liability account...
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20) Erik Killmonger Company reported the following liability account balances on December 31, 2017: Accounts payable 2,000,000 Bonds payable, due 2018 4,000,000 Discount on bonds payable 400,000 Deferred tax liability 500,000 Dividend payable due on February 15, 2019 1,000,000 Income tax payable 800,000 Note payable due January 15, 2019 1,200,000 The deferred tax liability is based on temporary differences stemming from different depreciation method for financial reporting and income tax purpose. What total...
help me please ? thank you ? 17) N'Jobu Company reported the following liability account balances...
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17) N'Jobu Company reported the following liability account balances on December 31, 2017: 6% note payable issued October 1, 2016, maturing October 1, 2018 500,000 8% note payable issued April 1, 2016, maturing April 1, 2018 800,000 The 2017 financial statements were issued on March 31, 2018. On March 1, 2018, the entire P800,000 balance of 8% note was refinanced by issuance of a long-term obligation payable lump sum. On December 31, 2017,...
help me please ? thank you ? 19) T'challa Company reported the following information on December...
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19) T'challa Company reported the following information on December 31, 2017: Accounts payable 800,000 Bonds payable, due 2018 3,000,000 Premium on bonds payable 150,000 Deferred tax liability 250,000 The deferred tax liability is not related to an asset for financial reporting purposes and is expected to reverse in 2018. What total amount should be reported as current liabilities on December 31, 2017? A 3,650,000 B. 4,200,000 C. 3,900,000 D. 3,950,000
At their last year end, December 31, 2019, the liabilities outstanding of ICAP Corp. included the...
At their last year end, December 31, 2019, the liabilities outstanding of ICAP Corp. included the following: 1. Cash dividends on common shares, $100,000, payable on January 15, 2020 2. Note payable to Lombard Bank, $850,000, due January 26, 2020 3. Serial bonds, $2,000,000, of which $500,000 matures during 2020 4. Note payable to UBI Banca, $200,000, due January 27, 2020 The following transactions occurred early in 2020: January 15: The cash dividends were paid. January 25: ICAP entered into...
Included and Levi Corporations liability account balances at December 31, 2006, where the following: - 14%...
Included and Levi Corporations liability account balances at December 31, 2006, where the following: - 14% notes payable issued October 1, 2019, maturing - September 30, 2021 P 1,250,000 - 16% note payable issued April 1, 2004, due on April 2021 2,000,000 On December 31, 2020, the company expects to refinance P 2,000,000 by the issuance of a long-term note payable in lump sum. The refinancing of the P 2,000,000 is at the discretion of the enterprise. Levi's December 31,...
3. At December 31, 2019 Telmark Companmy owed bonds payable of $1,750,000 due on May 15,...
3. At December 31, 2019 Telmark Companmy owed bonds payable of $1,750,000 due on May 15, 2020. On March 1, 2020, Telemark borrowed S2,000,000 due February 28, 2021 and used the proceeds to repay the bonds. The Financial statements for 2019 are issued March 15, 2020. How much will Telmark show for Current liabilities and for Total liabilities? Current liabilities Total liabilities $1,750,000 b. S250.000 $2,000,000 c. $1,750,000 $3,750,000 d. $1,750,000 $1,750,000 SO
help me please ? thank you ? 18) Shuri Company reported the following liability balance on...
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18) Shuri Company reported the following liability balance on December 31, 2017: 12% note payable issued on March 1, 2016, maturing on March 1, 2018 5,000,000 10% note payable issued on October 1, 2016, maturing October 1, 2018 3,000,000 The 2017 financial statements were issued on March 31, 2018. On January 31, 2018, the entire P5,000,000 balance of the 12% note payable was refinanced through issuance of a long-term obligation payable lump sum....
help me please ? thank you ? 16) Giants Company disclosed the following liability account balances...
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16) Giants Company disclosed the following liability account balances on December 31, 2017: Accounts payable 1,900,000 Bonds payable 3,400,000 Premium on bonds payable 200,000 Deferred tax liability 400,000 Dividends payable 500,000 Income tax payable 900,000 Note payable, due January 31, 2018 600,000 The deferred tax liability is based on temporary difference that will reverse in 2019. On December 31, 2017, what total amount should be reported as current liabilities? A. 7,100,000 B. 4,300,000...
Carla Inc. had the following long-term receivable account balances at December 31, 2019. Note receivable from...
Carla Inc. had the following long-term receivable account balances at December 31, 2019. Note receivable from sale of division $2,400,000 Note receivable from officer 495,100 Transactions during 2020 and other information relating to Carla's long-term receivables were as follows. 1. The $2,400,000 note receivable is dated May 1, 2019, bears interest at 10%, and represents the balance of the consideration received from the sale of Carla's electronics division to New York Company. Principal payments of $800,000 plus appropriate interest are...
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23) The trial balance of Beatriz Company reflected the following liability account balances on December 31, 2018: Accounts payable 3,800,000 Accrued expense 400,000 Unearned interest income 100,000 Bonds payable 6,800,000 Premium on bonds payable 400,000 Deferred tax liability 800,000 Dividends payable 1,000,000 Income tax payable 1,800,000 Note payable, due January 31, 2019 1,200,000 Note payable, due March 15, 2020 2,000,000 Mortgage payable 1,500,000 Total amount of current liabilities in the statement of financial...
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20) Erik Killmonger Company reported the following liability account balances on December 31, 2017: Accounts payable 2,000,000 Bonds payable, due 2018 4,000,000 Discount on bonds payable 400,000 Deferred tax liability 500,000 Dividend payable due on February 15, 2019 1,000,000 Income tax payable 800,000 Note payable due January 15, 2019 1,200,000 The deferred tax liability is based on temporary differences stemming from different depreciation method for financial reporting and income tax purpose. What total...
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17) N'Jobu Company reported the following liability account balances on December 31, 2017: 6% note payable issued October 1, 2016, maturing October 1, 2018 500,000 8% note payable issued April 1, 2016, maturing April 1, 2018 800,000 The 2017 financial statements were issued on March 31, 2018. On March 1, 2018, the entire P800,000 balance of 8% note was refinanced by issuance of a long-term obligation payable lump sum. On December 31, 2017,...
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19) T'challa Company reported the following information on December 31, 2017: Accounts payable 800,000 Bonds payable, due 2018 3,000,000 Premium on bonds payable 150,000 Deferred tax liability 250,000 The deferred tax liability is not related to an asset for financial reporting purposes and is expected to reverse in 2018. What total amount should be reported as current liabilities on December 31, 2017? A 3,650,000 B. 4,200,000 C. 3,900,000 D. 3,950,000
3. At December 31, 2019 Telmark Companmy owed bonds payable of $1,750,000 due on May 15, 2020. On March 1, 2020, Telemark borrowed S2,000,000 due February 28, 2021 and used the proceeds to repay the bonds. The Financial statements for 2019 are issued March 15, 2020. How much will Telmark show for Current liabilities and for Total liabilities? Current liabilities Total liabilities $1,750,000 b. S250.000 $2,000,000 c. $1,750,000 $3,750,000 d. $1,750,000 $1,750,000 SO
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18) Shuri Company reported the following liability balance on December 31, 2017: 12% note payable issued on March 1, 2016, maturing on March 1, 2018 5,000,000 10% note payable issued on October 1, 2016, maturing October 1, 2018 3,000,000 The 2017 financial statements were issued on March 31, 2018. On January 31, 2018, the entire P5,000,000 balance of the 12% note payable was refinanced through issuance of a long-term obligation payable lump sum....
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16) Giants Company disclosed the following liability account balances on December 31, 2017: Accounts payable 1,900,000 Bonds payable 3,400,000 Premium on bonds payable 200,000 Deferred tax liability 400,000 Dividends payable 500,000 Income tax payable 900,000 Note payable, due January 31, 2018 600,000 The deferred tax liability is based on temporary difference that will reverse in 2019. On December 31, 2017, what total amount should be reported as current liabilities? A. 7,100,000 B. 4,300,000...
Carla Inc. had the following long-term receivable account balances at December 31, 2019. Note receivable from sale of division $2,400,000 Note receivable from officer 495,100 Transactions during 2020 and other information relating to Carla's long-term receivables were as follows. 1. The $2,400,000 note receivable is dated May 1, 2019, bears interest at 10%, and represents the balance of the consideration received from the sale of Carla's electronics division to New York Company. Principal payments of $800,000 plus appropriate interest are...
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