Presented here are long term liability itema for Marin inc. at December 31, 2017.Bands payable (due 2021)Notes payable (du 201)s870,00070,000Discourt on bonds payable30,000Prepare the long-tem liabikies section of the balance sheet for Marin inc.MARIN INC.Ratance Sheet (Partt)

Balance sheet is a statement of the assets, liabilities and capital of a business at a particular…

Answered: Preented here are lang tmabity tema for…

Preented here are lang tmabity tema for Maint December 31, 207. Bonds pavabie (e 2021) Sar0.000 Nutes paatle 20 79,000 Dit onbond ple Prpare the longtem labikies setion of ow balance het forMarin

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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If $1,000,000 of 10% bonds are issued at 98, the amount of cash received from the sale is: O a. $987,500. Ob. $980,000. c. $1,000,000. Od. $975,000.
PB5. LO 13.3Dixon Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1, 2018 and received $480,000. Interest is payable annually. The discount is amortized using the straight-line method. Prepare journal entries for the following transactions. July 1, 2018: entry to record issuing the bonds June 30, 2019: entry to record payment of interest to bondholders June 30, 2019: entry to record amortization of discount June 30, 2020: entry to record payment of interest to bondholders June 30, 2020: entry to record amortization of discount
*P15.8A YLO 6) On January 1, 2020, Lock Corporation issued $1,800,000 face value, 5%, 10-year bonds st$1,667,518. This price resulted in an effective-interest rate of 6% on the bonds. Lock uses the effective- interest method to amortize bond premium or discount. The bonds pay annual interest January 1. Pre issE ane us Instructions (Round all computations to the nearest dollar.) a. Prepare the journal entry to record the issuance of the bonds on January 1, 2020. b. Prepare an amortization table through December 31, 2022 (three interest periods) for this bond issue. c. Prepare the journal entry to record the accrual of interest and the amortization of the discount on December 31, 2020. d. Prepare the journal entry to record the payment of interest on January 1, 2021. e. Prepare the journal entry to record the accrual of interest and the amortization of the discount on December 31, 2021.
A $7,000; 9% bond is sold at 93. When the bond is issuede the Cash account will be incerased by : A. $7,490. B. $7,140. C. $6,510. D. $7,000.
A comapny has issued a $162, 000, 3 year, zero interest bond dated January 1, 2023. The market interest rate for similar bonds was 11%. Assume the company used the effective interest method of amortization. Prepare a schedule of bond discount/premium amortization. (Round answers to 0 decimal places, e. g. 5, 275. Do not leave any answer field blank. Enter 0 for amounts.)
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On June 30, 2021 the market interest rate is 10% winner corporation issues $850,000 of 11% 30 year bonds payable the bonds pay interest on June 30 and December 31 the company amortize bond premium using the effective interest method use the PV function in excel to calculate the issue of the bonds. The issue price of the bond is.
SAF FOR YOU O 0 43% D 09:35 3G Telkom-Stay Safe . "E 747B/s A < January 18, 2022 09:34 On January 1. 2020, Hut Co. Itd sold sh.1, 000,000 of its 10% bonds for sh.885, 296 to yield 12%. Interest is payable semiannually on January 1 and July 1. What amount should Huff report as interest expense for the six months ended June 30. 2020? Select one: A. d. sh.60. 000 B. b. sh.50. 000 C.C. sh.53. 118 D. a. sh.44, 266 Share Favorite Edit Delete More
If $1,059,000 of 12% bonds are issued at 102 3/4, the amount of cash received from the sale is a. $1,186,080 b. $1,088,123 c. $1,059,000 d. $794,250
4. What is the carrying value of the bonds at the end of the second period (third number)? Premium 57,913.01 Carrying value (bonds) 432,913.01 Face Rate Market Rate Semiannual payments a. b. Cash Payment C. d. e. 14% 10% 0 or 1 2 or 3 4 or 5 6 or 7 8 or 9 Interest Expense Today Period #1 26,250.00 Period #2 26,250.00 Carrying value at end of second period (third number) ___________?__ 2. Disc. or Prem. Amort. 21,645.65 21,415.43 Disc. or Prem. 4,604.35 4,834.57 57,913.01 53,308.66 48,474.10 Face Value 375,000.00 375,000.00 375,000.00 Carrying Value 432,913.01 428,308.66 423,474.10