MW Company had the following activities in 2019 issuance of bonds OMR65000 , Bank loan repaid OMR75000 , dividends paid OMR30000 , issue of common stock OMR33000 and sale of inventories OMR50000 Cash from Financing activities is : O a . OMR 42000 Ob . OMR 7000 O c . None of the options O d . OMR ( 7000 )

MW Company had the following activities in 2019 issuance of bonds OMR65000 , Bank loan repaid OMR75000 , dividends paid OMR30000 , issue of common stock OMR33000 and sale of inventories OMR50000 Cash from Financing activities is : O a . OMR 42000 Ob . OMR 7000 O c . None of the options O d . OMR ( 7000 )

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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ABC Corp. signed a notes payable with DEF Inc. on June 1, 2021. The note providesthat ABC Corp. must pay principal plus all accrued interest at 8% compoundedannually in the amount of $850, 000 on June 1, 2024. Assuming ABC Corp. has notmade any payment on the note prior to the due date, how much did ABC Corp.borrow from DEF Inc. on June 1, 2021 ? IJse the present value equation to answer thequestion and round the answer to the nearest dollar. A. $646,000B. $674, 603c. $650,000D. $516,452E. $674,757
what am I missing for required A?
General Investment Co. (GIC) purchased bonds on January 1, 2021. GIC's accountant has projected the following amortization schedule from purchase until maturity: Date Cash Received Interest Revenue Amortization of Discount Amortized Cost 1/1/2021 $ 194,758 6/30/2021 $ 7,000 $ 7,790 $ 790 195,548 12/31/2021 7,000 7,822 822 196,370 6/30/2022 7,000 7,855 855 197,225 12/31/2022 7,000 7,889 889 198,114 6/30/2023 7,000 7,925 925 199,039 12/31/2023 7,000 7,961 961 200,000 Recording the bond purchase would have what effect on the financial statements?
a. What amount should be reported as interest expense for 2021? b. If no correction is made, by what amount would interest expense for 2021 be understated?
STFU Company accepted from a customer P1,000,000 face amount, 6-month, 8% note dated April 15, 2019. On the same date, the entity discounted the note without recourse at a 10% discount rate. What amount of cash was received from the discounting?
On January 1, 2020, you borrowed S1000 from a bank On December 31, 2020 YON DOO on O N complotely by depositing $1040 ir the rate of innation was 3% the REAL rate of interest on VONGONDN or39 closest fo Select one O 12% O. DO% Oc 1.00% 0.07%
Zuhoor Muscat Company borrowed RO 240,000 from the bank signing a 8%, 6-month note on October 1, 2020. The recorded amount of accrued interest expense on December 31, 2020 will be: a. None of the options are correct. Ob. RO 40,000. O c. RO 240,000. Od. RO 4,800. O e. RO 9,600. NEXT PAGE 4440 025 Type here to search B. red by ws 10 S acer
3b
On December 31, 2020, Allan Company had the following cash balances: Cash on hand and in bank 4,000,000 Cash restricted for bonds payable due on June 30, 2021 13,000 Time deposit 1,500,000 Savings deposit set aside for dividends payable on June 30, 2021 500,000 Cash in bank includes P175,000 of compensating balance against short term borrowing arrangement at December 31, 2020. The compensating balance is legally restricted as to withdrawal by Allan. A check of P75,000 dated January 15, 2021 and in payment of accounts payable was recorded and mailed on December 31, 2020. In the current assets section of the December 31, 2020statement of financial position, what amount should be reported as "cash and cash equivalents"? P5,913,000 P4,413,000 P5,900,000 P3,913,000
None
ony Hawk's Adventure (THA) issued callable bonds on January 1, 2021. THA's accountant has projected the following amortization schedule from issuance until maturity: Date cash paid Interest Expense Increase in carrying value carrying value 01/01/2021 $218,690 06/30/2021 $11,500 $13,121 $1,621 220,311 12/31/2021 11,500 13,219 1,719 222,030 06/30/2022 11,500 13,322 1,822 223,852 12/31/2022 11,500 13,431 1,931 225,783 06/30/2023 11,500 13,547 2,047 227,830 12/31/2023 11,500 13,670 2,170 230,000 THA issued the bonds for: Multiple Choice $230,000. $218,690. $299,000. Cannot be determined from the given information.
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