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PLEASE SHOW WORK IF POSSIBLE... THANKS!! Exercise 14-20 At December 31, 2017, Monty Company has outstanding...
Exercise 14-20 At December 31, 2017, Sunland Company has outstanding three long-term debt issues. The first...
Exercise 14-20 At December 31, 2017, Sunland Company has outstanding three long-term debt issues. The first is a $2,120,000 note payable which matures June 30, 2020. The second is a $6,020,000 bond issue which matures September 30, 2021. The third is a $13,240,000 sinking fund debenture with annual sinking fund payments of $2,648,000 in each of the years 2019 through 2023. Prepare the required note disclosure for the long-term debt at December 31, 2017. Long-term Deb 2018 2019 2020 2022
Exercise 14-20 At December 31, 2017, Sunland Company has outstanding three long-term debt issues. The first...
Exercise 14-20 At December 31, 2017, Sunland Company has outstanding three long-term debt issues. The first is a $2,120,000 note payable which matures June 30, 2020. The second is a $6,020,000 bond issue which matures September 30, 2021. The third is a $13,240,000 sinking fund debenture with annual sinking fund payments of $2,648,000 in each of the years 2019 through 2023 Prepare the required note disclosure for the long-term debt at December 31, 2017
At December 31, 2020, Sheffield Company has outstanding three long-term debt issues. The first is a...
At December 31, 2020, Sheffield Company has outstanding three long-term debt issues. The first is a $2,020,000 note payable which matures June 30, 2023. The second is a $7,060,000 bond issue which matures September 30, 2024. The third is a $14,840,000 sinking fund debenture with annual sinking fund payments of $2,968,000 in each of the years 2022 through 2026. Prepare the required note disclosure for the long-term debt at December 31, 2020. Long-term Debt 2021 $ 2022 $ 2023 $...
Accounting At December 31, 2020, Tamarisk Company has outstanding three long-term debt issues. The first is...
Accounting
At December 31, 2020, Tamarisk Company has outstanding three long-term debt issues. The first is a $1,960,000 note payable which matures June 30, 2023. The second is a $6,760,000 bond issue which matures September 30, 2024. The third is a $13,530,000 sinking fund debenture with annual sinking fund payments of $2,706,000 in each of the years 2022 through 2026. Prepare the required note disclosure for the long-term debt at December 31, 2020. Long-term Debt 2021 $ 2022 $ 2023...
At December 31, 2020, Pharoah Company has outstanding three long-term debt issues. The first is a...
At December 31, 2020, Pharoah Company has outstanding three long-term debt issues. The first is a $2,370,000 note payable which matures June 30, 2023. The second is a $5,580,000 bond issue which matures September 30, 2024. The third is a $12,850,000 sinking fund debenture with annual sinking fund payments of $2,570,000 in each of the years 2022 through 2026. Prepare the required note disclosure for the long-term debt at December 31, 2020.
At December 31, 2020, Monty Corporation owes $525,300 on a note payable due February 15, 2021....
At December 31, 2020, Monty Corporation owes $525,300 on a note payable due February 15, 2021. If Monty had restructured the note on December 15, 2020, such that Monty has the contractual right to defer payment of $262,650 of the note until February 15, 2022, how much of the $525,300 should be reported as a current liability at December 31, 2020? The amount to be reported as a current liability at December 31, 2020 $ e Textbook and Media If...
please help and show work please Monty Furniture Company started construction of a combination office and...
please help and show work please
Monty Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $8,500,000 on January 1, 2020. Monty expected to complete the building by December 31, 2020. Monty has the following debt obligations outstanding during the construction period. Construction loan-10% interest, payable semiannually, issued December 31, 2019 Short-term loan-8% interest, payable monthly, and principal payable at maturity on May 30, 2021 Long-term loan-9% interest, payable...
On December 31, 2020, Grouper Company signed a $1.054,800 note to Monty Bank. The m ost...
On December 31, 2020, Grouper Company signed a $1.054,800 note to Monty Bank. The m ost interest rate at that time was 11%. The stated interest rate on the note was able w ally. The note matures in 5 years. Unfortunately, because of lower sales, Grouper's financial situation worsened on December 31, 2012, Monty Bank determined that it was probable that the company would pay back only $6.37.100 of the principala maturity. However, it was considered kely that interest would...
Classifying Debt On December 31, 2020, Millers Grocery Inc. had a 10 year, 7 note payable...
Classifying Debt On December 31, 2020, Millers Grocery Inc. had a 10 year, 7 note payable balance of $100,000. The note payable was originally issued on June 30, 2011. The company will issue its financial statements on March 15, 2021 How will the note payable in each of the following separate scenarios be classifed on the balance sheet of Millers Grocery on December 31, 20207 a. The company intends to pay off the note payable when it comes due b....
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...
Exercise 14-20 At December 31, 2017, Sunland Company has outstanding three long-term debt issues. The first is a $2,120,000 note payable which matures June 30, 2020. The second is a $6,020,000 bond issue which matures September 30, 2021. The third is a $13,240,000 sinking fund debenture with annual sinking fund payments of $2,648,000 in each of the years 2019 through 2023. Prepare the required note disclosure for the long-term debt at December 31, 2017. Long-term Deb 2018 2019 2020 2022
Exercise 14-20 At December 31, 2017, Sunland Company has outstanding three long-term debt issues. The first is a $2,120,000 note payable which matures June 30, 2020. The second is a $6,020,000 bond issue which matures September 30, 2021. The third is a $13,240,000 sinking fund debenture with annual sinking fund payments of $2,648,000 in each of the years 2019 through 2023 Prepare the required note disclosure for the long-term debt at December 31, 2017
At December 31, 2020, Sheffield Company has outstanding three long-term debt issues. The first is a $2,020,000 note payable which matures June 30, 2023. The second is a $7,060,000 bond issue which matures September 30, 2024. The third is a $14,840,000 sinking fund debenture with annual sinking fund payments of $2,968,000 in each of the years 2022 through 2026. Prepare the required note disclosure for the long-term debt at December 31, 2020. Long-term Debt 2021 $ 2022 $ 2023 $...
Accounting
At December 31, 2020, Tamarisk Company has outstanding three long-term debt issues. The first is a $1,960,000 note payable which matures June 30, 2023. The second is a $6,760,000 bond issue which matures September 30, 2024. The third is a $13,530,000 sinking fund debenture with annual sinking fund payments of $2,706,000 in each of the years 2022 through 2026. Prepare the required note disclosure for the long-term debt at December 31, 2020. Long-term Debt 2021 $ 2022 $ 2023...
At December 31, 2020, Monty Corporation owes $525,300 on a note payable due February 15, 2021. If Monty had restructured the note on December 15, 2020, such that Monty has the contractual right to defer payment of $262,650 of the note until February 15, 2022, how much of the $525,300 should be reported as a current liability at December 31, 2020? The amount to be reported as a current liability at December 31, 2020 $ e Textbook and Media If...
please help and show work please
Monty Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $8,500,000 on January 1, 2020. Monty expected to complete the building by December 31, 2020. Monty has the following debt obligations outstanding during the construction period. Construction loan-10% interest, payable semiannually, issued December 31, 2019 Short-term loan-8% interest, payable monthly, and principal payable at maturity on May 30, 2021 Long-term loan-9% interest, payable...
On December 31, 2020, Grouper Company signed a $1.054,800 note to Monty Bank. The m ost interest rate at that time was 11%. The stated interest rate on the note was able w ally. The note matures in 5 years. Unfortunately, because of lower sales, Grouper's financial situation worsened on December 31, 2012, Monty Bank determined that it was probable that the company would pay back only $6.37.100 of the principala maturity. However, it was considered kely that interest would...
Classifying Debt On December 31, 2020, Millers Grocery Inc. had a 10 year, 7 note payable balance of $100,000. The note payable was originally issued on June 30, 2011. The company will issue its financial statements on March 15, 2021 How will the note payable in each of the following separate scenarios be classifed on the balance sheet of Millers Grocery on December 31, 20207 a. The company intends to pay off the note payable when it comes due b....
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...
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