Please correct answer and don't use hand rating For fiscal year 2019, compute interest bearing debt of Biogen. Interestbearing debt typically includes debt with an explicit interest expense like linesof credit, commercial paper, notes, bonds and capitalized leases.595563681495.8

Step 1: Understanding Interest-Bearing Debt:Interest-bearing debt includes all forms of debt that…

Answered: For fiscal year 2019, compute interest…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

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Gecko Investments has the following data regarding their debt investments as of December 31, 2021: Original Cost Amortized Cost Market Value Trading Bonds 95 96 97 Available for Sale Bonds 95 96 97 Held-to-Maturity Bonds 95 96 97 1. What is the total amount of gain or loss to be reported as part of other comprehensive income? Give both the amount and whether it is a gain or loss.
The following amortization and interest schedule reflects the issuance of 10-year bonds by Wildhorse Corporation on January 1, 2019, and the subsequent interest payments and charges. The company's year-end is December 31, and financial statements are prepared once yearly. Year 1/1/2019 2020 2019 $12,500 $13,305 12,500 13,401 13,510 13,631 13,767 13,919 2021 2024 2025 2022 12,500 2023 12,500 12,500 12,500 12,500 14,280 12,500 14,493 14,731 2026 Amortization Schedule 2027 Cash Interest 2028 12,500 12,500 14,089 Amount Unamortized $14,126 13,321 12,420 11,410 10,279 9,012 7,593 6,004 4,224 2,231 Carrying Value $ 110,874 111,679 112,580 113,590 114,721 115,988 117,407 118,996 120,776 122,769 125,000 Click here to view factor tables. a. Indicate whether the bonds were issued at a premium or a discount.
Refer to the information in RE13-5. Assume that on December 31, 2019, the investment in Smith Corporation bonds has a market value of 12,500. Prepare the year-end journal entry to record the unrealized gain or loss.
The last right top column should be the Carrying Amount of Bonds for this method.
Preparing a Debt Disclosure As of December 31, 2020, Dole Company’s long-term debt consisted of the following: $146,050—Unsecured note payable to bank due 2021. $517,500—Unsecured note payable to bank due 2023. $690,000—Unsecured note payable to bank due 2025. $103,500—Secured mortgage payable to bank due in equal installments 2021 through 2025. $184,000—Secured note payable to bank due in 2026. Prepare the required financial statement disclosure at December 31, 2020, indicating the amounts due in each of the next five years and thereafter. NotePayable Year 12021 Year 22022 Year 32023 Year 42024 Year 52025 Thereafter $146,050 Answer Answer Answer Answer Answer Answer 517,500 Answer Answer Answer Answer Answer Answer 690,000 Answer Answer Answer Answer Answer Answer 103,500 Answer Answer Answer Answer Answer Answer 184,000 Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer
Marigold Company in its first year of operations provides the following information related to one of its available-for-sale debt securities at December 31, 2020. Amortized cost $51,100 Fair value 42,200 Expected credit losses 12,600 A. What is the amount of credit loss that marigold should report on this available-for-sale security at december 31, 2020? Amount of the credit loss $ 8,900 B. Prepare the journal entry to record the credit loss, if any ( and other adjustments needed), at December 31, 2020? date account titles and explanations debit credit 12/31/20 8,900 8,900 Please note that the answer is NOT Debit Loss on available for sale debt securities and Credit avilable for sale debt securities. These are the account titles I can choose from... Accumulated Other…
In its Dec. 31, 2020 statement of financial position, how much current liabilities should be reported? (SEE ATTACHED FOR PROBLEM) CHOICES a. P 4,000,000b. P 3,640,000c. P 3,000,000d. P 1,500,000
Devin Company computes the following bond interest amortization table for bonds issued on January 1, 2021. Use the information on this table to answer the questions below. Interest Cash Payment Payment Interest Decrease in Вook Date Amount Discount Value Expense $441,068 $444,310 $447,683 $451,190 $454,838 $458,631 $462,577 $466,680 $470,947 $475,385 Discount $360,000 $360,000 $360,000 $360,000 $360,000 $360,000 $360,000 $360,000 $360,000 $360,000 $81,068 $84,310 $87,683 $91,190 $94,838 $98,631 $102,577 $106,680 $110,947 $115,385 $892,240 $807,929 $720,247 $629,056 $534,219 $435,587 $333,011 $226,331 $115,385 $0 $11,107,760 $11,192,071 $11,279,753 $11,370,944 $11,465,781 $11,564,413 $11,666,989 $11,773,669 $11,884,615 $12,000,000 June 30, 2021 Dec 31, 2021 June 30, 2022 Dec 31, 2022 June 30, 2023 Dec 31, 2023 June 30, 2024 Dec 31, 2024 June 30, 2025 Dec 31, 2025
Prepare a schedule of interest expense and bond amortization for 2025-2027. (Round answer to 2 decimal places, e.g. 38,548.25.) Date 1/1/25 $ 12/31/25 12/31/26 12/31/27 Cash Paid Schedule of Interest Expense and Bond Premium Amortization Effective-Interest Method $ Interest Expense $ Premium Amortized $ Carry Value of
Carla Company in its first year of operations provides the following information related to one of its available-for-sale debt securities at December 31, 2020. Amortized cost $50,300 Fair value 40,600 Expected credit losses 12,200 (a) What is the amount of the credit loss that Carla should report on this available-for-sale security at December 31, 2020? Amount of the credit loss $
At December 31, 2020, Stellar Corporation has the following account balances: Bonds payable, due January 1, 2029 Discount on bonds payable Interest payable $1,900,000 102,000 # 92,000 Show how the above accounts should be presented on the December 31, 2020, balance sheet, including the proper classifications. (Enter account name only and do not provide descriptive information.) Stellar Corporation Balance Sheet (Partial) $ tA
Where is debt callable by the creditor reported on the debtor's financial statements? a) Long term liability b) Current liability if the creditor intends to call the debt within the year , otherwise a long term liability. c) Current liability if it is probable that creditor will call the debt within the year, otherwise a long term liability. d) current liability

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For fiscal year 2019, compute interest bearing debt of Biogen. Interest bearing debt typically includes debt with an explicit interest expense like lines of credit, commercial paper, notes, bonds and capitalized leases. 5955 6368 1495.8