In each separate situation, show how bonds payable is reported in the long-term liabilities section of the December 31 balance sheet (Amounts to be deducted should be entered with a minus sign.) 1. Bonds payable with a par value of $10,000 and a premium on bonds payable of $240. 2. Bonds payable with a par value of $30,000 and a discount on bonds payable of $500. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Bonds payable with a par value of $30,000 and a discount on bonds payable of $500. Liabilities Section of Balance Sheet December 31 Long-term liabilities

In each separate situation, show how bonds payable is reported in the long-term liabilities section of the December 31 balance sheet (Amounts to be deducted should be entered with a minus sign.) 1. Bonds payable with a par value of $10,000 and a premium on bonds payable of $240. 2. Bonds payable with a par value of $30,000 and a discount on bonds payable of $500. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Bonds payable with a par value of $30,000 and a discount on bonds payable of $500. Liabilities Section of Balance Sheet December 31 Long-term liabilities

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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The notes to the Giving Ltd. financial statements reported the following data on December 31, Year 1 (end of the fiscal year): (Click the icon to view the financial statement data.) Givingamortizes bond discounts using the effective-interest method and pays all interest amounts at December 31. Read the requirements. Requirement 1. Assume the market interest rate is 5% on January 1 of year 1, the date the bonds are issued. (Round your answers to the nearest whole dollar.) a. Using the PV function in Excel, what is the issue price of the bonds? The issue price of the bonds is Get more help Data table Note 6. Indebtedness Bonds payable, 1% due on December 31, Year 8 Less: Discount $ 4,500,000 ? ? Notes payable, 6%, payable in $50,000 annual installments starting in Year 5 Print Done $ 300,000 ×
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I was needing help with the following accounting problem.
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