Current liabilities: Accounts payable Other current liabilities Deferred revenue Commercial paper Term debt Total current liabilities Non-current liabilities: Term debt Other non-current liabilities Total non-current liabilities Total liabilities Commitments and contingencies Shareholders' equity: Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized; 4,443,236 and 4,754,986 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income/(loss) Total shareholders' equity LIABILITIES AND SHAREHOLDERS' EQUITY: Total liabilities and shareholders' equity 46,236 37,720 5,522 5,980 10,260 105,718 91,807 50,503 142,310 248,028 45,174 45,898 (584) 90,488 338,516 S $ 55,888 33,327 5,966 11,964 8,784 115,929 93,735 48,914 142,649 258,578 40,201 70,400 (3,454) 107,147 365,725

Current liabilities: Accounts payable Other current liabilities Deferred revenue Commercial paper Term debt Total current liabilities Non-current liabilities: Term debt Other non-current liabilities Total non-current liabilities Total liabilities Commitments and contingencies Shareholders' equity: Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized; 4,443,236 and 4,754,986 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income/(loss) Total shareholders' equity LIABILITIES AND SHAREHOLDERS' EQUITY: Total liabilities and shareholders' equity 46,236 37,720 5,522 5,980 10,260 105,718 91,807 50,503 142,310 248,028 45,174 45,898 (584) 90,488 338,516 S $ 55,888 33,327 5,966 11,964 8,784 115,929 93,735 48,914 142,649 258,578 40,201 70,400 (3,454) 107,147 365,725

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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Similar questions

What type of account is Discount on Bonds Payable? What is its normal balance? Is it added to or subtracted from the Bonds Payable account to determine the carrying amount?
Define installment Notes.
How is the interest earned on the principal amount calculated at the end of each interest period?
If the carrying amount of bonds redeemed is more than the redemption price, the difference is recorded as a a. discount. b. premium. c. gain. loss. O d.
List four examples of interest-bearing liability accounts commonlyfound in balance sheets. What characteristics do these liabilities have in common? Howdo they differ?
The carrying value of Bonds Payable equalsa. Bonds Payable plus Discount on Bonds Payable.b. Bonds Payable minus Discount on Bonds Payable.c. Bonds Payable minus Premium on Bonds Payable.d. Bonds Payable plus Accrued Interest.
Apr. 1 Purchased for cash $338,000 of Vasquez City 3% bonds at 100 plus accrued interest of $2,535. June 30 Received first semiannual interest payment. July 31 Sold $158,400 of the bonds at 95 plus accrued interest of $396. Aug. 1 Received face value of remaining bonds at their maturity. Required: Journalize the entries to record the above selected bond investment transactions for Beacon Trust. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
Describe the Valuation of Installment Notes.
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Assuming the bonds are issued at a discount, explain how each column in an amortization schedule is determined. When bonds are issued at a premium, how does the amortization schedule differ?
Describe the accounting for bonds payable, including bonds issued at face amount, bonds issued at a discount , nd bonds issued at a premium ?