IT Corporation December 31, 2018 balance sheet contained the following items in the long-term liabilities section: 10% registered bonds, callable in 2019, due in 2023, secured by machinery 3,000,000 11% bonds, convertible into common stock beginning in 2018, due in 2025, secured by realty 5,000,000 12% collateral trust bonds (P50,000 maturing annually) 7,000,000 What are the total amounts of IT’s secured bonds? Group of answer choices 12,000,000 15,000,000 8,000,000 10,000,000
IT Corporation December 31, 2018 balance sheet contained the following items in the long-term liabilities section: 10% registered bonds, callable in 2019, due in 2023, secured by machinery 3,000,000 11% bonds, convertible into common stock beginning in 2018, due in 2025, secured by realty 5,000,000 12% collateral trust bonds (P50,000 maturing annually) 7,000,000 What are the total amounts of IT’s secured bonds? Group of answer choices 12,000,000 15,000,000 8,000,000 10,000,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
Problem 16E
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Question
IT Corporation December 31, 2018
10% registered bonds, callable in 2019, due in 2023, secured by machinery |
3,000,000 |
11% bonds, convertible into common stock beginning in 2018, due in 2025, secured by realty |
5,000,000 |
12% collateral trust bonds (P50,000 maturing annually) |
7,000,000 |
What are the total amounts of IT’s secured bonds?
Group of answer choices
12,000,000
15,000,000
8,000,000
10,000,000
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