questoin 13attached to ssthanks for helpappreaicted it52ji66mo36jm3i6oj3imo6 On June 30, 2021, the market interest rate is 9%. Ramsey Corporation issues $550,000 of 12%, 20-year bonds payable. The bonds pay interest on June 30 and December 31. The company amortizes bond premium using the effective-interest method.Read the requirements.Requirement 1. Use the PV function in Excel to calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.)The issue price of the bonds isRequirement 2. Prepare an amortization table for the first four semiannual interest periods.Enter the issue date information, then complete the table for each of the following semiannual interest periods. (Round your answers to the nearest whole dollar.)SemiannualInterest PeriodJun 30, 2021Dec 31, 2021Jun 30, 2022Dec 31, 2022Jun 30, 2023DateJun 30, 2021InterestPaymentDateRamsey CorporationAmortization TableInterestExpenseAccountsPremium Premium AccountAmortizationBalanceRecord the semiannual interest payment on December 31, 2021.Journal EntryAccountsDebitDebitCreditBond CarryingAmountRequirement 3. Record the issuance of bonds payable on June 30, 2021; the payment of interest on December 31, 2021; and the payment of interest on June 30, 2022. (Record debits first, then credits. Exclude explanations from all journal entries.)Start by recording the issuance of the bonds on June 30, 2021.Journal EntryCreditRequirements1.2.3Use the PV function in Excel to calculate the issue price of the bonds.Prepare a bond amortization table for the first four semiannual interestperiods.Record the issuance of bonds payable on June 30, 2021; the payment ofinterest on December 31, 2021; and the payment of interest on June 30,2022.PrintDoneX

The present value calculation takes into account the time value of money, which recognizes that a…

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Business

Accounting

uestoin 13 attached to ss thanks for help appreaicte

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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U Portal Assignments: Corp Fin Reprtnx OQuestlon 21 - E&P Set #4 (Lea X (no subject)- ellse.patipewe@ x ezto.mheducation.com/ext/map/index.html?_con=con&external_browser3D0&launchUrl=https%253A%252F%252Flms.mheducation.com%252F... 4 (Leases) 6 Saved Help Save & Exit Submit Check my work Exercise 15-3 (Static) Finance lease; lessee; balance sheet and income statement effects [L015-2] On June 30, 2021, Georgia-Atlantic, Inc. leased warehouse equipment from IC Leasing Corporation. The lease agreement calls for Georgia-Atlantic to make semiannual lease payments of $562,907 over a three-year lease term, payable each June 30 and December 31, with the first payment at June 30, 2021. Georgia-Atlantic's incremental borrowing rate is 10%, the same rate IC uses to calculate lease payment amounts. Amortization is recorded on a straight-line basis at the end of each fiscal year. The fair value of the equipment is $3 million. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1 (Use…
gle Chrome File Edit View History Bookmarks Profiles Tab Window Help Inbox (229) - abigailof X MGmail x iConnect - Home x Question 5 Mid-Term x Connect Getting to K wiL47988 xapp ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu%252Fwe... Mid-Term Exam Saved 5 Part 4 of 4 Required information [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,660 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Ask Land Office equipment Accounts payable Owner investments $ 12,040 Cash withdrawals by owner 13,720 Consulting revenue 2,990 Rent expense 45,940 Salaries expense 17,710 Telephone expense 8,230 Miscellaneous expenses. 83,660 $ 1,760 13,720 3,210 6,690 870 680 Mc Graw Hill 一口 Help Save & E Also assume the following: a.…
u Online Cour X (78) Whats x M Your AccoL X M Inbox (2,74 X SP2021-AC X Answered: Ek My Home * CengageN X Bartleby Q x + D X A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?inprogress=true FMovies | Watch M. BIO201 Connect 10. M Gmail > YouTube Fourth Homework O eBook Patents 6. MC.12.06 Instructions Chart Of Accounts General Journal 7. MC.12.07 Instructions 8. MCС.12.08 Mystic Pizza Company purchased a patent from Prime Pizza Plus on January 1, 2019, $72,000. The patent has a remaining legal life of 9 years. 9. МC.12.09 Required: 10. MC.12.10 Prepare the journal entries to record the acquisition and the amortization for 2019, assuming Mystic Pizza amortizes its patents using the 11. RE.12.01.BLANKSHEET straight-line method over the life of the asset. 12. RE.12.02 13. RE.12.03.BLANKSHEET 14. RE.12.04.BLANKSHEET 15. RE.12.05.BLANKSHEET 16. RE.12.06.BLANKSHEET 17. RE.12.07.BLANKSHEET 18. RE.12.08 O V I 12:52
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e File Edit View History Bookmarks Profiles Tab Window Help G ox (270) - abigailo x MACC101 Principles of A X (4726) IFRS vs. GAAP x M Question 15 - Chapter X WiConnect-Home 1545 x M Qu ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu%252Fwe... pter 6 Homework i 15 Saved Help Part 3 of 4 10.34 points Required information Problem 6-2AA (Algo) Periodic: Alternative cost flows LO P3 [The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Activities Beginning inventory Purchase Units Acquired at Cost 110 units $45 per unit 410 units @$50 per unit 140 units @$55 per unit 220 units @$57 per unit 430 units @$80 per unit Totals 880 units eBook Ask Print Date March 1 March 5 March 9 March 18 March 25 March 29 Sales Purchase Purchase Sales References 180 units @ $90 per unit…
Help Save & Exit ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddleware%252... 3-RA1 - Princi x M Question 2 - CV 12.5 - Conne x + Fube Maps Translate News 2.5 i 2 Required information Saved t2 of 3 ts Knowledge Check 01 J. Morgan and M. Halsted are partners who share income and loss in a 3:1 ratio. After several unprofitable periods, the two partners decided to liquidate their partnership. The current period's income or loss is closed to the partners' capital accounts according to the sharing agreement. Immediately before liquidation, the partnership balance sheet shows: land, $100,000; accounts payable, $80,000; J. Morgan, Capital, $15,000; and M. Halsted, Capital, $5,000. On January 15, the land was sold for $110,000 cash. On January 16, the partnership settled its liabilities. On January 31, the remaining cash was distributed to the partners. Prepare the January 15 journal entry for the partnership to…
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- Homework A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Ffaytechcc.blackboard.co... E User Management,.. H https://outlook.offi.. O FES Protection Plan System 7- North C.. 用Re mework Exercises i Soved Help Save & Exit Submit Check my work Required: Record the following transactions of Fashion Park in a general journal, Fashion Park must charge 6 percent sales tax on all sales. The company uses the perpetual inventory system. (Round your intermediate calculations and final answers to the nearest whole dollar value.) DATE TRANSACTIONS 20X1 Sold merchandise for cash, $2,540 plus sales tax. The cost of merchandise sold was $1,540. The customer purchasing merchandise for cash on April 2 returhed $270 of the merchandise; provided a cash refund to the customer. The cost of returned merchandise was $170. Sold merchandise on credit to Jordan Clark; issued Sales Slip 908 for $1,090 plus tax, terms n/30. The cost of the merchandise sold was…
e File Edit View History Bookmarks Profiles Tab Window Help C Netflix MInbox (228 X MACC101 Pr X Accounting X Accounting X M Question 1 X M Question 1 xb Answered: ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu%252... Chapter 9 Homework 13 30.12 points Saved Note: Use 360 days a year. Year 1 December 16 Accepted a(n) $12,800, 60-day, 8% note in granting Danny Todd a time extension on his past-due account receivable. December 31 Made an adjusting entry to record the accrued interest on the Todd note. Year 2 eBook Ask Print References February 14 Received Todd's payment of principal and interest on the note dated December 16. March 2 Accepted a(n) $6,400, 8%, 90-day note in granting a time extension on the past-due account receivable from Midnight Company. March 17 Accepted a $3,900, 30-day, 7% note in granting Ava Privet a time extension on her past-due account receivable. April 16 Privet dishonored her note. May 31 Midnight…
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ent II - Chapter 5 Saved Help Save & E 13 1.46853 0.68095 14 1.51259 0.66112 15 1.55797 0.64186 16 1.60471 0.62317 15.6178 10.63496 16.0863 10.95400 17.0863 11.29607 18.5989 11.93794 17.5989 11.63496 19.1569 12.29607 20.1569 12.56110 20.7616 12.93794 Monica wants to sell her share of an investment to Barney for $140,000 in 4 years. If money is wOrth 6% compounded semiannually, what would Monica accept today? Multiple Choice 110,517 $ 109.263 ( Prev 7 of 15 Next>