The total long-term liabilities reported on the balance sheet are     $3261000.   $3248000.   $3359000.   $3346000.

Q: On January 1, 2025, Cheyenne Corporation issued $630,000 of 9% bonds, due in 10 years. The bonds…

A: When a bond payable is issued below par then, it is said to be issued at a discount. The discount is…

Q: On January 1, 2025, Stellar Corporation issued $540,000 of 7% bonds, due in 10 years. The bonds were…

A: When a bond payable is issued below par then, it is said to be issued at a discount. The discount is…

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A: The bonds are reported as long term liabilities in the balance sheet. The bonds are issued at…

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A: Journal Entries - Flounder CorporationDateAccount Title & ExplanationDebitCredit1-Jan-25Cash…

Q: On January 1, 2021, Lyle’s Limeade issues 4%, 10-year bonds with a face amount of $90,000 for…

A:

Q: On January 1, 2020, Drew Company issued $900,000, 5-year bonds for $828,000. The stated rate of…

A: Annual Cash Payment for interest = Face value of bonds x rate of interest x period = $900,000 x 9% =…

Q: On December 31, 2018 Brown Company issued $600,000 of 15-year, 11% bonds payable for $558,706,…

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

Q: Sheridan Company issued $311,500 of 7%, 10-year bonds on January 1, 2020, at face value. Interest is…

A: Date Account Titles and Explanation Debit Credit Jan. 1, 2020 Cash $311,500…

Q: The adjusted trial balance for Concord Corporation at the end of the current year contained the…

A: Long-term liabilities are those which are payable to the company in more than 1 year. Liabilities…

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A: Effective interest rate refers to the return earned on the savings after considering the effect of…

Q: On January 1, 2020, Skysong Corporation issued $660,000 of 9% bonds, due in 8 years. The bonds were…

A: Bonds payable are one of the sources of finance and are shown as liability. If the interest rate is…

Q: On January 1, 2021, a company issued $2,000,000, 10-year, 7% bonds, when the market rate was 8%.…

A: The bonds are issued at discount when market rate is higher than the coupon rate of bonds payable.

Q: On AUG 01, 2022, Corp issued $600,000, 7%, 10-year bonds at face value. Interest is payable annually…

A: The bonds are the debt instrument. The bonds are long-term in nature and are used to raise debt. The…

Q: trial balance for Wildhorse Corporation at July 31, 2021, the corporation's fiscal year en $ 104,500…

A: Noncurrent liabilities include debentures, long-term loans, bonds due, deferred tax obligations,…

Q: On January 1, a company issued 3%, 20-year bonds with a face amount of $80 million for $69,057,776…

A: Interest expense on the bonds represents the actual interest expenses. The cash interest and…

Q: On January 1,2025 Waterway Corporation issued $390,000 of 9%% bonds, due in years. The bond issued…

A: Bonds are often utilized by both public and private sectors to generate capital for a variety of…

Q: On July 1, 2018, ABC Co. issued $6,000,000, 6%, 4-year bonds. The bonds were sold to yield an…

A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

Q: On January 1, 2021, Sunland Company sold $4900000 of its 10% bonds for $4337950 to yield 12%.…

A: $4,337,950 is the present value of bond. Yield is 12 %, semiannually.

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A: BALANCE SHEETFinancial statement that provides a snapshot of an organization's financial position at…

Q: On January 1, 2025, Pina Corporation issued $630,000 of 9% bonds, due in 10 years. The bonds were…

A: Journal entries are the primary reporting of the business transactions in the books of accounts.…

Q: On December 31, 2018, when the market interest rate is 10%, Willis Realty issues $1,000,000 of…

A: Financial instruments issued by a corporation to raise long-term capital are known as bonds. In the…

Q: On January 1, 2020, Flounder Corporation issued $540,000 of 7% bonds, due in 10 years. The bonds…

A: Solution: Journal Entries - JWS Corporation Date Particulars Debit Credit 1-Jan-20 Cash Dr…

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A: Effective Interest rate refers to the compounded interest rate that the bond holder actually pays as…

Q: On January 1, 2025, Shamrock Corporation issued $680,000 of 9% bonds, due in 8 years. The bonds were…

A: When a bond payable is issued below par then, it is said to be issued at a discount. The discount is…

Q: ined the following: Accounts payable   $ 107,500   Note payable   $157,000 Accounts receivable…

A: Solution: Non current liabilities are those liabilities which are not due to be paid within next one…

Q: On January 1, 2020, Swifty Corporation issued $450,000 of 7% bonds, due in 8 years. The bonds were…

A: Introduction:- The act of recording or keeping track of any financial or non-financial action is…

Q: On January 1, 2019, JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were…

A: 1. Calculation for Bonds Issuance Entry  A) Discount on issue of bonds.   = Bonds Issue price-Bonds…

Q: The following amortization schedule indicates the interest and principal to be repaid on an…

A: Note payable is a financial instrument which is used to make a certain amount of payment at the date…

Q: On January 1, 2020, Grouper Corporation issued $480,000 of 7% bonds, due in 10 years. The bonds were…

A: >Bonds Payable are the source of finance for the companies.   >The bondholders are…

Q: The adjusted trial balance for Bramble Corp. at the end of the current year contained the following…

A: Long term Liabilities: Long term Liabilities or non-current liabilities are the obligation that…

Q: The Colson Company issued S300.000 bonds at 98 on January 1, 2017. The bonds are due January 1,…

A: Given information is: Face value of bonds = $300,000 Issue price = 98 per bond

Q: On January 1, 2020, PS ind issued P600,000 of 7% bonds, due in 10 years. The bonds were issued for…

A: Introduction: Journal entries are the basis of double accounting rules, which have been used for…

Q: On August 1, 2022, Bramble Corp. issued $482,400, 8%, 10-year bonds at face value. Interest is…

A: As per accrual principle of accounting, all the expenses need to be accounted for within the…

Q: sheridan Limited issued $4,500,000 10-year, 8% bonds on January 1, 2021, when the market interest…

A: The bonds are issued at discount when market rate is higher than the coupon rate of bonds payable.…

Q: The adjusted trial balance for Sheridan Farm Corporation at the end of the current year contained…

A: BALANCE SHEET Balance sheet Shows the Financial position of the Company. It Include Assets,…

Q: On January 1, Year 1, Maverick Company sold bonds that pay interest semiannually on June 30 and…

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Q: bonds, du 8 years. interest each July 1 and January 1. The effective-interest rate is 8%. Date…

A: Bonds payable is long term liability as these are issued to raise funds. When the contract rate is…

Q: On January 1, 2025, Wildhorse Corporation issued $450,000 of 7% bonds, due in 8 years. The bonds…

A: The bonds payable are issued to raise the long-term funds at a fixed rate of interest. Bonds can be…

Q: At January 1, 2020, Konerko Corp. issued $40,000,000 of 6%, 12-year bonds that paid interest…

A: Bonds: It is also known as fixed-income security, is a debt instrument created for the purpose of…

Q: On September 1, 2024, Sheridan Corporation issued $640,000 of 10-year, 3% bonds at 97. Interest is…

A: Bond are non current liabilities issued by organization. As per IFRS 9 Financial instruments a Bond…

Q: On July 1, 2018, ABC Co. issued S6,000,000, 6%, 4-year bonds. The bonds were sold to yield an…

A: Journal: It is the first step of recording financial transactions. It is used to prepare the…

Q: On January 1, 2025, Sweet Corporation issued $490,000 of 7% bonds, due in 8 years. The bonds were…

A: When a bond payable is issued below par then, it is said to be issued at a discount. The discount is…

Q: On January 1, 2025, Concord Corporation issued $500,000 of 7% bonds, due in 10 years. The bonds were…

A: The bonds are issued at a premium when the interest earnings on bonds are more than the interest…