Book value of debtBank overdraftsBorrowings539723556Amnt due to related paties $4800213.0& Leasse Mability.Trade and other payablerS Trade6 fited Current Liabilities.11864424 679548871Required. Which of these form part ofdebtofbook value

The objective of the question is to identify which items from the given list form part of the book…

Answered: Book value of debt Bank overdrafts…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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(5 points) Which of the following is true of the straight-line method for amortizing premiums and discounts on long-term debt? (LE 3) O The method can be used by any company for any debt. O The journal entries are the same for every payment. O The method is preferred by FASB. O The premium or discount amortized away is the plug figure in the journal entry. EE
Amortizing the discount on bonds payablea. increases the recorded amount of interest expense.b. reduces the semiannual cash payment for interest.c. reduces the carrying value of the bond liability.d. is necessary only if the bonds were issued at more than face value
Collateralized Debt Obligations (CDO’s) are pools of__ a) all tranches of MBS b) the mezzanine and equity tranches of MBS c) senior tranches of MBS d) AAA tranches of MBS
Discount Cash Premium Interest payable Par Interest expense Discount on bond payable Yes Bonds payable No Loss on redemption Gain on redemptin Cash Interest payable Interest receivable Notes payable Gain on restructuring Loss on restructuring Discount on Note payable Premium on Note payable Bad debt expense Allowance for bad debts
Part A Define a secured debt. Give two examples of secured debt. 15px Space used (includes formatting): 0 / 15000 Part B What is a bad debt? Give two examples.
Period Cash Paid Interest Expense Interest in Carrying Value Carrying Value Issue Date $85,940 1 $4,100 $ 3,438 $662 85,278 2 4,100 3,411 689 84,589 1. & 2. Record the bond issue assuming the face value of bonds payable is $79,000 and first interest payment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Record the bond issue. Event General Journal Debit Credit 1 Record the first interest payment. Event General Journal Debit Credit 2
E10.7 (LO 2) (Analyze instalment payment schedule.) The following instalment payment schedule is for a long-term bank loan payable: Interest Period Issue date 1 2 3 4 5 Instructions Cash Payment $23,097.48 23,097.48 23,097.48 23,097.48 23,097.48 Interest Expense $5,000.00 4,095.13 3,145.01 2,147.38 1,099.88 Reduction of Principal $18,097.48 19,002.35 19,952.47 20,950.10 21,997.60 Principal Balance $100,000.00 81,902.52 62,900.17 42,947.70 21,997.60 0 a. Assuming payments are made annually, what is the interest rate on the bank loan? b. Prepare the journal entry to record the first instalment payment. c. What are the current and non-current portions of the bank loan after the payment at the end of period 2?
Consider the following balance sheet for Northern Highland Credit Union (NHCU) before answering parts (i) through (v). Assets ($ million) $ Liabilities ($ million) $ Cash 30 Overnight interbank borrowing (7.00%) 160 T-notes 2 month (7.05%) 60 2-year CD (5%) 20 T-notes 3 months (7.25%) 80 7 year fixed rate Subordinated debt (8.55%) 150 T-notes two-year (7.50%) 60 Equity 25 T-notes 10-year (8.96%) 100 Corporate bonds (>5 years to maturity) 25 Total assets 355 Total liabilities and Equity 355 What is the repricing (funding) gap over the 0-to-6 months maturity bucket?
B4.
Reporting Issuance and Retirement of Long-Term Debt On the basis of the details of the following bonds payable and related discount accounts, indicate the items to be reported in the Financing Activities section of the statement of cash flows, assuming no gain or loss on retiring the bonds: ACCOUNT Bonds Payable ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 300,000 2 Retire bonds 60,000 240,000 June 30 Issue bonds 180,000 420,000 ACCOUNT Discount on Bonds Payable ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 13,500 2 Retire bonds 4,800 8,700 June 30 Issue bonds 12,100 20,800 Dec. 31 Amortize discount 1,040 19,760 Item Section of Statement of Cash Flows Added or Deducted Amount Retire bonds $fill in the blank 3 Issue bonds $fill in the blank 6…
________ bonds are characterized by interest payments that are required only when earnings are available from which to make such payment Floating rate Revenue Junk Mortgage
Match the items

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Book value of debt Bank overdrafts Borrowings 53972 3556 Amnt due to related paties $4800 21 3. 0 & Leasse Mability. Trade and other payabler S Trade 6 fited Current Liabilities. 11864 424 679 548871 Required. Which of these form part of debt of book value