attached in ss below thx for helplaplaperaapaappreicated itlotl2t24t42t24t4 The accounting records of Brilliant Foods, Inc., include the following items at December 31, 2021:EEE (Click the icon to view the accounting records.)Read the equirementsRequirement 1. Show how each relevant item would be reported on the Brilliant Foods classified balance sheet. Include headings and totals for current liabilities and long-term liabilities.Select the labels and then enter the amounts to complete the classified balance sheet. You will need to determine the total current assets value from the information provided and your calculations. (Abbreviations used: liab. = liabilities, NP = notes payable, and pay. = payable.)Less:AssetsBrilliant Foods, Inc.Partial Balance SheetDecember 31, 2021Less:LiabilitiesRequirement 2. Answer the following quesabout Brilliant Food's financial position at December 31, 2021:a. What is the carrying amount of the bonds payable (combine the current and long-term accounts)?b. Why is the interest payable amount so much less than the amount of interest expense? Requirements1.Show how each relevant item would be reported on the Brilliant Foods classified balancesheet. Include headings and totals for current liabilities and long-term liabilities.2. Answer the following questions about Brilliant Food's financial position at December 31,2021:a. What is the carrying amount of the bonds payable (combine the current and long-termamounts)?b. Why is the interest-payable amount so much less than the amount of interest expense?How many times did Brilliant Foods cover its interest expense during 2021?3.4. Assume that all of the existing liabilities are included in the information provided.Calculate the leverage ratio and debt ratio of the company. Use year-end figures in placeof averages where needed for the purpose of calculating ratios in this problem. Evaluatethe health of the company from a leverage point of view. Assume the company only hascommon stock issued and outstanding. What other information would be helpful in makingyour evaluation?PrintDoneal curreData tableMortgage note payable,current portionLeases payable (long-term)Bonds payable, long-termMortgage note payablelong-termBonds payable, current portionInterest expense$Total assets93,000 Accumulated depreciation,461,000 equipment375,000 Discount on bonds payable(all long-term)318,000 Operating income150,000 Equipment229,000 Long-term investments(market value)Interest payablePrintDone$ 5,000,000169,00020,000340,000744,000425,00075,000

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Description: attached in ss below thx for helplaplaperaapaappreicated itlotl2t24t42t24t4 The accounting records of Brilliant Foods, Inc., include the following items at December 31, 2021:EEE (Click the icon to view the accounting records.)Read the equirementsReq

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accounting records of Brilliant Foods, Inc., include the following items at December 31, 2021: (Click the icon to view the accounting records.) Read the equirement Requirement 1. Show how each relevant item would be reported on the Brilliant Foods classified balance sheet. Include headings and totals for current liabilities and long-term liabilities. Select the labels and then enter the amounts to complete the classified balance sheet. You will need to determine the Less Assets Brilliant Foods, Inc. Partial Balance Sheet December 31, 2021 Less Liabilities Requirement 2. Answer the following questions about Brilliant Food's financial position at December 31, 2021: I current assets value from the information provided and your calculations. (Abbreviations used: liab=liabilities, NP = notes payable, and pay. = payable.)

accounting records of Brilliant Foods, Inc., include the following items at December 31, 2021: (Click the icon to view the accounting records.) Read the equirement Requirement 1. Show how each relevant item would be reported on the Brilliant Foods classified balance sheet. Include headings and totals for current liabilities and long-term liabilities. Select the labels and then enter the amounts to complete the classified balance sheet. You will need to determine the Less Assets Brilliant Foods, Inc. Partial Balance Sheet December 31, 2021 Less Liabilities Requirement 2. Answer the following questions about Brilliant Food's financial position at December 31, 2021: I current assets value from the information provided and your calculations. (Abbreviations used: liab=liabilities, NP = notes payable, and pay. = payable.)

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable

Section: Chapter Questions

Problem 7P: Wilbury Corporation issued 1 million of 13.5% bonds for 985,071.68. The bonds are dated and issued...

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