Give answer within 45 min I will give you immediately upvote.....it's very urgent... Show the proper balance sheet presentation for the liability for bonds payable on the December 31, 2021, balance sheet. (Roundanswers to 0 decimal places, e.g. 38,548.)Ivanhoe CompanyBalance SheetDecember 31, 2021 Current Attempt in ProgressOn June 30, 2020, Ivanhoe Company issued S4,420,000 face value of 15%, 20-year bonds at $5,417,560, a yleld of 12%. Ivanhoe usesthe effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December31.

The bonds are issued at premium when market rate is lower than the coupon rate of bonds payable.

On June 30, 2020, Ivanhoe Company issued $4,420,000 face value of 15%, 20-year bonds at $5,417,560, a yield of 12%. Ivanhoe uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31.

On June 30, 2020, Ivanhoe Company issued $4,420,000 face value of 15%, 20-year bonds at $5,417,560, a yield of 12%. Ivanhoe uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31.

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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7:27 f t < Session[1].docx - Word ✓ Qo 138 - 21 Paragraph O References Mailings Review View Help BLUEBEAM One day you're going to miss my boring texts ## TO Accessibility: Investigate Search Costs to date Estimated costs to complete Progress billings during the year Cash collected during the year hoher webb ng Normal ||| No Spacing Styles Acrobat 2021 $ 980,000 3,020,000 1,000,000 648,000 Go to website O Heading 1 √ Calculate the amount will be reported for accounts receivable on the statement of financial position at December 31, 2022. 3. Accounts Receivable on the Statement of Financial Position at December 31, 2022 for Newton Corp.: Accounts Receivable is calculated as the cumulative billings to date minus the cumulative cash collected: Accounts Receivable at December 31, 2022 = Cumulative Billings- Cumulative Cash Collected Accounts Receivable at December 31, 2022 = ($1,000,000+ $1,000,000) - ($648,000+ $1,280,000) = $2,000,000 - $1,928,000 = $72,000 Therefore, the amount reported…
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