Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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- If the Bonds Payable account has a balance of $700,000 and the Discount on Bonds Payable account has a balance of $36,000, what is the carrying value of the bonds? Carrying value of the bonds $arrow_forwardA $276,000 bond was redeemed at 98 when the carrying amount of the bond was $271,860. What amount of gain or loss would be recorded as part of this transaction?arrow_forwardBrazzle Inc. issued $ 200,000 face value bonds at a discount and received $ 185,000 . At the end of 2021 , the balance in the Discount on Bonds Payable account is $ 10,000 . This year's balance sheet will show a net liability of: A. $ 180,000 B. $ 185,000 C. $ 195,000 D. $ 200,000arrow_forward
- If the bonds payable account has a balance of $100,000 and the premium on bonds payable account has a balance of $10,000, what is the carrying amount of the bonds? $110,000 $100,000 $90,000 There is no way to determine.arrow_forwardDevin Company computes the following bond interest amortization table for bonds issued on January 1, 2021. Use the information on this table to answer the questions below. Interest Cash Payment Payment Interest Decrease in Вook Date Amount Discount Value Expense $441,068 $444,310 $447,683 $451,190 $454,838 $458,631 $462,577 $466,680 $470,947 $475,385 Discount $360,000 $360,000 $360,000 $360,000 $360,000 $360,000 $360,000 $360,000 $360,000 $360,000 $81,068 $84,310 $87,683 $91,190 $94,838 $98,631 $102,577 $106,680 $110,947 $115,385 $892,240 $807,929 $720,247 $629,056 $534,219 $435,587 $333,011 $226,331 $115,385 $0 $11,107,760 $11,192,071 $11,279,753 $11,370,944 $11,465,781 $11,564,413 $11,666,989 $11,773,669 $11,884,615 $12,000,000 June 30, 2021 Dec 31, 2021 June 30, 2022 Dec 31, 2022 June 30, 2023 Dec 31, 2023 June 30, 2024 Dec 31, 2024 June 30, 2025 Dec 31, 2025arrow_forwardKeystone Corporation's balance sheet showed the following liability and stockholders' equity amounts: Current Liabilities, $100,000; Bonds Payable, $150,000; Long-Term Lease Obligations, $20,000; Deferred Income Tax Liability, $5,000; and total stockholders' equity, $500,000. The debt-to-equity ratio is Oa. 0.35. Оb. 0.20. Ос. 1.22. Od. 0.55.arrow_forward
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