COLLEGE ACCOUNTING (LL)W/ACCESS>CUSTOM<
4th Edition
ISBN: 9781260255157
Author: Haddock
Publisher: MCG CUSTOM
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Chapter 8, Problem 9E
1.
To determine
Prepare the schedule of the accounts payable of company BP.
2.
To determine
Determine whether the total of accounts payable schedule agree with the balance of the accounts payable account in the general ledger.
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Exercise 14-9 Amortization table and accrued interest LO5
SweetFish Corp. issued bonds with a par value of $920,000 and a five-year life on May 1, 2020. The contract interest rate is 11.50%.
The bonds pay interest on October 31 and April 30. They were issued at a price of $903,072 when the market interest rate was
12.00%. SweetFish Corp's year-end is December 31.
a. Prepare an amortization table for these bonds that covers their entire life. Use the effective interest method of allocating interest.
(Do not round intermediate calculations. Round the final answers to the nearest whole dollar. Enter all the amounts as positive
values.)
Cash
Unamortized
Discount
Period
Period Interest
Discount
Interest
Carrying Value
Ending
Expense
Amortization
Paid
May 1/20
Oct 31/20
|Apг 30/21
Oct 31/21
Apr 30/22
Oct 31/22
Apr 30/23
Oct 31/23
Apr 30/24
Oct 31/24
Apr 30/25
Totals
Prepare any journal entries to record the revenue arrangement for Bonita Bundle A on January 2, 2020, and December 31, 2020.
(Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No
entry" for the account titles and enter O for the amounts. Round answers to O decimal places, e.g. 5,125.)
Date
Account Titles and Explanation
Debit
Credit
(To record sales)
(To record cost of goods sold)
Determine the net realizable value of accounts receivable on December 31, 2019.
Please show solutions along with the answers. Thank you!
Chapter 8 Solutions
COLLEGE ACCOUNTING (LL)W/ACCESS>CUSTOM<
Ch. 8 - What is the name of the account used to record...Ch. 8 - What does FOB shipping point mean?Ch. 8 - Prob. 1.3SRQCh. 8 - Prob. 1.4SRECh. 8 - Prob. 1.5SRECh. 8 - Prob. 1.6SRACh. 8 - Prob. 2.1SRQCh. 8 - Prob. 2.2SRQCh. 8 - The total of the schedule of accounts payable...Ch. 8 - In the accounts payable ledger, a suppliers...
Ch. 8 - Prob. 2.5SRECh. 8 - Prob. 2.6SRACh. 8 - What is the name of the account used to record...Ch. 8 - What type of account is Purchases Returns and...Ch. 8 - Prob. 3CSRCh. 8 - Prob. 4CSRCh. 8 - Prob. 5CSRCh. 8 - Prob. 1DQCh. 8 - Prob. 2DQCh. 8 - Prob. 3DQCh. 8 - Prob. 4DQCh. 8 - Prob. 5DQCh. 8 - Prob. 6DQCh. 8 - What type of accounts are kept in the accounts...Ch. 8 - Prob. 8DQCh. 8 - Prob. 9DQCh. 8 - Prob. 10DQCh. 8 - Prob. 11DQCh. 8 - Prob. 12DQCh. 8 - Prob. 13DQCh. 8 - Why is using the Purchases Returns and Allowances...Ch. 8 - Prob. 15DQCh. 8 - Prob. 16DQCh. 8 - Prob. 17DQCh. 8 - Prob. 18DQCh. 8 - Identify the normal balance of the following...Ch. 8 - Prob. 2ECh. 8 - Prob. 3ECh. 8 - Record the following transactions of J. Min...Ch. 8 - Record the following transactions of Allen Inc.:Ch. 8 - Bushard Company (buyer) and Schmidt, Inc. (seller)...Ch. 8 - Prob. 7ECh. 8 - Prob. 8ECh. 8 - Prob. 9ECh. 8 - Prob. 10ECh. 8 - Prob. 11ECh. 8 - Prob. 12ECh. 8 - Prob. 13ECh. 8 - Record the following transactions of Fashion Park...Ch. 8 - On April 1, Moloney Meat Distributors sold...Ch. 8 - Bushard Company (buyer) and Schmidt, Inc. (seller)...Ch. 8 - Annettes Photo Shop is a retail store that sells...Ch. 8 - Prob. 2PACh. 8 - Prob. 3PACh. 8 - NewTech Medical Devices is a medical devices...Ch. 8 - Prob. 5PACh. 8 - Bowden Company (buyer) and Song, Inc. (seller),...Ch. 8 - The following transactions took place at Fine...Ch. 8 - Prob. 1PBCh. 8 - Taras Card and Novelty Shop is a retail card,...Ch. 8 - Prob. 3PBCh. 8 - Prob. 4PBCh. 8 - Prob. 5PBCh. 8 - Belladonna Company (buyer) and Sachi, Inc....Ch. 8 - The following transactions took place at The...Ch. 8 - William Evans began Evans Distributors, a sporting...Ch. 8 - Prob. 2CTPCh. 8 - Prob. 1MFCh. 8 - Prob. 2MFCh. 8 - Prob. 3MFCh. 8 - Prob. 4MFCh. 8 - Prob. 5MFCh. 8 - Prob. 6MFCh. 8 - Prob. 1ED
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