Selected information follows for Wildhorse Select Corporation at December 31: 2024 2023 Bonds payable $1,014,900 $1,014,900 Mortgage notes payable 484,500 204,000 Common shares 56,100 45,900 Retained earnings 168,300 86,700 Additional information: 1. Principal payments on the mortgage payable were $25,500. 2. A building was purchased for $510,000 by paying $204,000 cash and signing a mortgage note payable for the balance. 3. Profit for the year was $147,900. Assuming the company reports under ASPE and all dividends have been paid, prepare the financing activities section of the cash flow statement. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).) Wildhorse Select Corporation Cash Flow Statement (Partial) For the Year Ended December 31, 2024 Financing Activities Sale of Common Shares Repayment of Mortgage Notes Payable Payment of Cash Dividends Net Cash Used by Financing Activities Note X: During the year, the company acquired a building with a cost of $ by paying $ cash and incurring a mortgage note payable of $

Selected information follows for Wildhorse Select Corporation at December 31: 2024 2023 Bonds payable $1,014,900 $1,014,900 Mortgage notes payable 484,500 204,000 Common shares 56,100 45,900 Retained earnings 168,300 86,700 Additional information: 1. Principal payments on the mortgage payable were $25,500. 2. A building was purchased for $510,000 by paying $204,000 cash and signing a mortgage note payable for the balance. 3. Profit for the year was $147,900. Assuming the company reports under ASPE and all dividends have been paid, prepare the financing activities section of the cash flow statement. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).) Wildhorse Select Corporation Cash Flow Statement (Partial) For the Year Ended December 31, 2024 Financing Activities Sale of Common Shares Repayment of Mortgage Notes Payable Payment of Cash Dividends Net Cash Used by Financing Activities Note X: During the year, the company acquired a building with a cost of $ by paying $ cash and incurring a mortgage note payable of $

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 14MC: Whirlie Inc. issued $300,000 face value, 10% paid annually, 10-year bonds for $319,251 when the...

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A company purchased $30,000 of 5% bonds for investment purposes on May 1. The bonds pay interest on February 1 and August 1. The amount of interest revenue accrued at December 31 (the company’s year-end) is a. $1,500. c. $1,000. e. $300. b. $1,375. d. $625.
Give me correct answer with explanation.s
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On January 1, $853,000, 5-year, 10% bonds were issued for $827,410. Interest is paid semiannually on January 1 and July 1. If the issuing corporation uses the straight-line method to amortize a discount on bonds payable, the semiannual amortization amount is a. $42,650 Ob. $2,559 Oc. $25,590 d. $5,118 Woxt
Selected information follows for Wildhorse Select Corporation at December 31: Bonds payable Mortgage notes payable Common shares Retained earnings Additional information: 1. 2. 3. Financing Activities Increase in Mortgage Payable Issuance of Bonds Payable 2024 Payment of Cash Dividends $1,014,900 484,500 56,100 eTextbook and Media 168,300 Principal payments on the mortgage payable were $25,500. A building was purchased for $510,000 by paying $204,000 cash and signing a mortgage note payable for the balance. Profit for the year was $147,900. 2023 Assuming the company reports under ASPE and all dividends have been paid, prepare the financing activities section of the cash flow statement. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) $1,014,900 Net Cash Used by Investing Activities 204,000 45,900 86,700 Wildhorse Select Corporation Cash Flow Statement (Partial) For the Year Ended December 31, 2024 Note X: During the year, the…
10. Sullivan Corporation includes the following selected accounts in its general ledger at December 31, 2025: Viewthe selected accounts. "Notes Payable (long - term) $65, 000 Bonds Payable (long - term)S 195, 000 Accounts Payable$ 19,600 Salaries Payable $ 1,840 Interest Payable (due next year) $ 740 Sales Tax Payable $ 680 Premium on BondsPayable $ 5,600 Estimated Warranty Payable S 1,000 Prepare the liabilities section of Sullivan Corporation's balancesheet at December 31, 2025.