Sunland Electric sold $5,615,000, 10%, 10-year bonds on January 1, 2020. The bonds were dated January 1, 2020, and paid interest on January 1. The bonds were sold at 96. 1.At December 31, 2020, $7,900 of the Discount on Bonds Payable account has been amortized. Show the balance sheet presentation of the long-term liability at December 31, 2020.
Sunland Electric sold $5,615,000, 10%, 10-year bonds on January 1, 2020. The bonds were dated January 1, 2020, and paid interest on January 1. The bonds were sold at 96. 1.At December 31, 2020, $7,900 of the Discount on Bonds Payable account has been amortized. Show the balance sheet presentation of the long-term liability at December 31, 2020.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Sunland Electric sold $5,615,000, 10%, 10-year bonds on January 1, 2020. The bonds were dated January 1, 2020, and paid interest on January 1. The bonds were sold at 96.
1.At December 31, 2020, $7,900 of the Discount on Bonds Payable account has been amortized. Show the
Sunland Electric
Balance Sheet (Partial) choose the accounting period For the Month Ended December 31, 2020For the Year Ended December 31, 2020December 31, 2020
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select an opening section name
Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal
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enter a balance sheet item
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$enter a dollar amount
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select between addition and deduction
Add Less
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enter a dollar amount
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$enter a subtotal of the two previous amounts
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