The following is taken from the Skysong, Inc. balance sheet.
Interest is payable annually on January 1. The bonds are callable on any annual interest date. Skysong uses straight-line amortization for any bond premium or discount. From December 31, 2019, the bonds will be outstanding for an additional 10 years (120 months).
can you help me answer the last part of the
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The following is taken from the Skysong, Inc. balance sheet. Interest is payable annually on January...
Problem 15-07A a-d The following is taken from the Blossom Company balance sheet. Blossom Company Balance Sheet (partial) December 31, 2020 Current Liabilities Interest payable (for 12 months from January 1 to December 31) Long-term Liabilities Bonds payable, 9% due January 1, 2028 Add: Premium on bonds payable $305,100 $3,390,000 194,000 $3,584,000 Interest is payable annually on January 1. The bonds are callable on any annual interest date. Blossom uses straight-line amortization for any bond premium or discount. From December...
Problem 15-8A (Part Level Submission) The following is taken from the Colaw Company balance sheet. COLAW COMPANY Balance Sheet (partial) December 31, 2017 Current Liabilities Interest payable (for 12 months from January 1 to December 31) Long-term Liabilities Bonds payable, 6% due January 1, 2028 Add: Premium on bonds payable $185,400 $3,090,000 249,000 $3,339,000 Interest is payable annually on January 1. The bonds are callable on any annual interest date. Colaw uses straight-line amortization for any bond premium or discount....
If you can give me explanations that would be helpful,
thanks.
The following is taken from the Sandhill Company balance sheet. Sandhill Company Balance Sheet (partial) December 31, 2020 Current Liabilities Interest payable (for 12 months from January 1 to December 31) Long-term Liabilities Bonds payable, 9% due January 1, 2028 Add: Premium on bonds payable $271,800 $3,020,000 212,000 $3,232,000 Interest is payable annually on January 1. The bonds are callable on any annual interest date. Sandhill uses straight-line amortization...
The following section is taken from Sheridan Corp.'s balance sheet at December 31, 2019 Current liabilities $ 134,550 Interest payable Long-term liabilities Bonds payable, 9%, due January 1, 2024 1,495,000 Bond interest is payable annually on January 1. The bonds are callable on any interest date. Your answer is correct. Journalize the payment of the bond interest on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles andExplanation Debit...
Problem 15-07A a-d The following is taken from the Ivanhoe Company balance sheet. BACK Frida Ivanhoe Company Balance Sheet (partial) December 31, 2020 Current Liabilities Interest payable (for 12 months from January 1 to December 31) Long-term Liabilities Bonds payable, 6% due January 1, 2028 Add: Premium on bonds payable $157,800 $2,630,000 Tube 249,000 $2,879,000 Interest is payable annually on January 1. The bonds are calable on any annual interest date. Ivanhoe uses straight-line amortization for any bond premium or...
The following information is taken from Ayayai Corp's balance sheet at December 31, 2016. Current liabilities Interest payable $ 86,000 Long-term liabilities Bonds payable (4%, due January 1, 2027) $2,640,000 Less: Discount on bonds payable 26,400 2,613,600 Interest is payable annually on January 1. The bonds are callable on any annual interest date. Ayayai uses straight-line amortization for any bond premium or discount. From December 31, 2016, the bonds will be outstanding for an additional 10 years (120 months). (a)...
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Exercise 15-7 The following section is taken from Ohlman Corp.'s balance sheet at December 31, 2016 Current liabilitles Interest payable 94,500 Long-term liabilities Bonds payable, 6%, due January 1, 2021 1,575,000 Bond interest is payable annually on January 1. The bonds are callable on any interest date Journalize the payment of the bond interest on January 1, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit...
LCULATOR PRINTER VERSION BACK NERET Problem 15-07A a-d The following is taken from the Pharoah Company balance sheet. Pharoah Company Balance Sheet (partial) December 31, 2020 Current Liabilities Interest payable (for 12 months from January 1 to December 31) Long-term Uabilities Bonds payable, 7% due January 1, 2028 $2,900,000 Add: Premium on bonds payable 189.000 $203,000 $3,089,000 Interest is payable annually on January 1. The bonds are callable on any annual interest date. Pharoah uses straight-line amortization for any bond...
CALCULATOR PRINTER VERSION BACK Exercise 15-07- The following section is taken from Sheridan Corp.'s balance sheet at December 31, 2019. Current abilities Interest payable $ 162,000 Kong-term liabilities Bonds payable, 9%, due January 1, 2024 1,800,000 Bond Interest is payable annually on January 1. The bonds are callable on any interest date. Journalize the payment of the bond Interest on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles...
Exercise 10-13 The following section is taken from Ohlman Corp.'s balance sheet at December 31, 2014. $ 73,170 Current liabilities Interest payable Long-term liabilities Bonds payable, 9%, due January 1, 2019 1,626,000 Bond interest is payable semiannually on January 1 and July 1. The bonds are callable on any interest date. Your answer is correct. Journalize the payment of the bond interest on January 1, 2015. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)...