what total amount should be reported as current liabilities?

Q: Bear Inc. issues a $600 million, 6-year note on June 30, 2021 that is payable in annual installments…

A: Lets understand the basics.Liabilities are mainly divided into current and non current…

Q: exclude this note from current liabilities

A: Second option is wrong because even though the company demonstrates the ability to refinance before…

Q: (II) Prepare the Income Statement and the Balance Sheet taking into consideration: 1. Closing Stock…

A: Answer:-The task at hand involves creating an Income Statement and a Balance Sheet, incorporating…

Q: On January 1, 2019, La Vida Company purchased 3,000, P1,000 face value term bonds with a stated rate…

A: Reclassification is when business entity changed business model for managing its financial assets.…

Q: How much is initial valuation of the bonds? How much cash was received upon the sale of the bonds?…

A: Accrued  Interest can be defined in simple terms as an interest which has been occurred at a…

Q: Chowan Corporation issued $198,000 of 8% bonds dated January 1, 2019, for $191,470.07 on January 1,…

A: Journal is a place where accounting transactions are listed in the book keeping system before ledger…

Q: On December 31, 2025, Coronado Inc. rendered services to Beghun Corporation at an agreed price of…

A: Amortization Schedule: It implies a chart that basically reflects the periodic loan repayments along…

Q: On June 1, 2021, VIXEN Company received ₱1,077,200 plus accrued interest for 12% bonds with a face…

A: SOLUTION- BOND  IS A FIXED OBLIGATION TO PAY  THAT IS ISSUED BY A CORPORATION OR GOVERNMENT ENTITY…

Q: On June 1, 2021, NEX Company received ₱1,077,200 plus accrued interest for 12% bonds with face…

A: "Since you have asked multiple question we will solve the first three sub part question for you.  If…

Q: ente the liability sec

A: Here Montano Inc. issued bonds at 9% when the market interest rate was 7%.  Due…

Q: On December 31, 2021, Piper Inc enters into a debt restructuring agreement with Nolte Company, which…

A: Given: - Reduction in the value of note receivable from $5,000,000 to $4,500,000 Reduction in the…

Q: On June 1, 2021, VIXEN Company received ₱1,077,200 plus accrued interest for 12% bonds with face…

A: Bonds Payable It is the amount owed to bond holders by the issuer and is a liability account

Q: The following liability account balances of ABC Company as of December 31, 2020: 12% Notes Payable,…

A: Interest is that amount that is paid to the receiver of notes payable for forgiving an opportunity…

Q: On February 10, 2021, after issuance of its financial statements for 2020, Ikli Company entered into…

A: Current liabilities: Liabilities that have to be paid within one year or one operating cycle,…

Q: at 95. T

A: The journal entries and bonds payable as,

Q: On December 31, 2019, PT ABC issued $500,000 of 6% contractual rate, 5-year bonds at 98, with…

A:

Q: On January 1, 2019, Gates Corporation issued $100,000 of 5-year bonds due December 31, 2023, for…

A:

Q: The Golden Company issues $539,000 of 7%, 10-year bonds at 104 on March 31, 2019. The bonds pay…

A: An interest-bearing bond is a type of debt security issued by a borrower, typically a corporation or…

Q: Oakwood Corporation is delinquent on a $2,400,000, 10% note to Second National Bank that was due…

A: Debt Restructuring - It is restructured agreement which refer to change in terms of debt due to…

Q: On January 1, 2019, Gates Corporation issued $100,000 of 5-year bonds due December 31, 2023, for…

A: A bond is type of legal paper or in accounting terms investment securities wherein an investor lends…

Q: n January 1, 2020, Mariel Company issued bonds payable with face amount of P8,000,000 and 10% stated…

A: When bond trades or the market price of the bond is below $1000 or par value it is called a discount…

Q: ABC Company has a P15,000,000, two-year note payable to  DEF  that matures October 31, 2021. ABC's…

A: Solution Concept The current portion of the long term debt is classified as the current liabilities…

Q: Mitchell Inc. received $568,547 from the issuance of 600, 6%, $1,000 bonds on January 1, 2020. The…

A: First, let's compute if there's a discount or premium on the bonds issued. Get the difference…

Q: On January 1, 2019, Gates Corporation issued $100,000 of 5-year bonds due December 31, 2023, for…

A: A bond is type of legal paper or in accounting terms investment securities wherein an investor lends…

Q: On January 1, 2019, Lala Company received an P800,000, 8%, 2 year note from Move Corporation as…

A: Annual installment = Total amount to be collected / no. of installment = 600000/3 = P200,000

Q: On January 1, 2019, Gates Corporation issued $200,000 of 5-year bonds due December 31, 2023, for…

A: In the given sum we will have to calculate the amortization expenses and interest expenses of the…

Q: On December 31, 2022, the amount TCA Company will report in the non-current liabilities in its…

A: The original question involves a scenario where TCA Company issued a P 1,200,000, 10% promissory…

Q: On May 1, 2019, Orlan Company purchased a short-term $2,000,000 face value, 9% debt instruments for…

A: Income statement refers to those financial statements which depicts the revenues and expenses of a…

Q: On January 1, 2020, Alpha Company issued a noninterest-bearing note for a piece of equipment…

A:

Q: The Blossom Company issued $310,000 of 10% bonds on January 1, 2020. The bonds are due January 1,…

A: Face value of bonds$310,000Issued at99Proceed received from issuance of bonds ($310,000 *…

Q: The Blossom Company issued $260,000 of 10% bonds on January 1, 2020. The bonds are due January 1,…

A: Bonds are considered a financial instrument used to raise finance for the organization. It is also…

Q: The Blossom Company issued $260,000 of 10% bonds on January 1, 2020. The bonds are due January 1,…

A: Bonds Issue price = Face value of bonds x issue price = $260,000 x 98/100 = $254,800

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 December 31, 2025, Concord Inc. rendered services to Beghun Corporation at an agreed price of…

A: NOTES RECEIVABLEValue of Notes Receivable represents the amount which is receivable from the…

Q: 1. The carrying value of the bonds on December 31, 2020 is $ 2. The fair value of the bonds on…

A: Given in the question: Number of bonds issued 64 Face Value per bond $1,000…

Q: Cryer, Inc. has a $45,000,000 note payable on its balance sheet as of 12/31/19, of which $6,000,000…

A: Total note payable on Dec 31, 2019 = $45,000,000 Notes to be paid in 2020 should be classified as…

Q: On January 1, 20x1, SENECTITUDE OLD AGE Co. issued its 12%, 3-year, P2,000,000 convertible bonds at…

A: Issue date= Jan 1, 20X112% convertible bonds at 110Conversion ratio= 1 bond= 8 shares

Q: Included in Witt Company’s liability account balance at December 31, 2021 were the following: 14%…

A: Current liabilities It is the debts a company owes that must be paid within one year.

Q: On the December 31, 2020 statement of financial position, the amount of these notes payable that ABC…

A: Short term obligation is a financial Liability that to be repaid within one year. Subsequent Event:…