The adjusted trial balance for Bramble Corp. at the end of the current year, 2018, contained the following accounts. 5-year Bonds Payable 8% $1490000 Interest Payable 52000 Premium on Bonds Payable 149000 Notes Payable (3 mo.) 39000 Notes Payable (5 yr.) 144000 Mortgage Payable ($8000 due currently) 240000 Salaries and Wages Payable 15000 Taxes Payable (due 3/15 of 2019) 22000 The total long-term liabilities reported on the balance sheet are

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Q: On January 1, 2019, Black Panther, Inc. issued P4,000,000 of 9% bonds, dated January 1 at 97.…

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Q: On July 1, 2018, McNamara Company issued for $598,964, 10%, 20-year bonds with a face value of…

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Q: ) On January 1, 2020, JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were…

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A: Dear student, we can not solve more than three sub-parts of a question if a question has more than…

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Q: On January 1, 2020, Skysong Corporation issued $660,000 of 9% bonds, due in 8 years. The bonds were…

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Q: On January 1, 2021, a company issued $2,000,000, 10-year, 7% bonds, when the market rate was 8%.…

A: The bonds are issued at discount when market rate is higher than the coupon rate of bonds payable.

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Q: In the statement of financial position of Leblanc Company as of December 31, 2020, the following…

A: Redemption of the bonds = Face value of Bonds Payable x Redemption value / 100 = P1,000,000 x 98/100…

Q: (a) Sandra Corporation purchased $780,000 of its bonds on June 30, 2020, value of the bonds on the…

A: a) Journal Entry     Debit$ Credit$ Bond payable 780,000   Loss on bond redemption (…

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Q: On January 1, 2021, a company issues $720,000 of 8% bonds, due in twelve years, with interest…

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Q: On June 1 of the current year, Cross Corp. issued $300,000 of 8% bonds payable at par with interest…

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Q: At the end of 2015, Majors Furniture Company failed to accrue $61,000 of interest expense that…

A:

Q: At the end of 2015, Majors Furniture Company failed to accrue $61,000 of interest expense that…

A:

Q: On January 1, 2020, Flounder Corporation issued $540,000 of 7% bonds, due in 10 years. The bonds…

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Q: On 1/1/2019, Allie Company issued bonds payable of $400,000 at 8%. It was sold at $364,000 with…

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A: Working note: Computation of issue price of bonds, Discount, par value of bond:

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A: The interest earned during period but not received is said to be Accrued interest or interest…

Q: Mcdonaugh Corporation issued $250,000 of 5%, 10-year bonds payable onJanuary 1, 2019. The market…

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Q: On January 1, 2019, JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were…

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Q: On January 1, 2018, Paradiso Company issued 1,000 of its 8%, $1,000 bonds at 93. Interest is payable…

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Q: The adjusted trial balance for Bramble Corp. at the end of the current year contained the following…

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Q: On January 1, 2020, PS ind issued P600,000 of 7% bonds, due in 10 years. The bonds were issued for…

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Q: On January 1, a company issued 3%, 20-year bonds with a face amount of $80 million for $69,033,776…

A:

Q: Mara Company reported the following accounts on December 31,2021: Premium on bonds payable 50,000…

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Q: On January 1, 2017, JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were…

A:

Q: Floyd Limited had the following transactions pertaining to debt investments. Jan.  1, 2020…

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Q: On January 1, 2016, Phoenix Corporation issued 10-year $200,000 bonds with a 6% stated rate of…

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Q: The adjusted trial balance for Lifesaver Corp. at the end of the Current year, 2020, contained the…

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Q: On July 1, 2018, ABC Co. issued S6,000,000, 6%, 4-year bonds. The bonds were sold to yield an…

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Q: On January 1, 2012 Zesto Company received $1,032,880 for $1,000,000 face amount, 12% bonds, a price…

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Q: Kitkat Company issued a P5,000,000, 10% 10-year bonds on July 1, 2021 for 113 when the effective…

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Q: On January 1, a company issued 4%, 10-year bonds with a face amount of $75 million for $63,842,205…

A: Following are the calculation of Interest on Bond:

Q: On January 1, 2020, Martinez Corporation issued $570,000 of 9% bonds, due in 8 years. The bonds were…

A: Premium on bonds payable = $603,210 - $570,000 Premium on bonds payable = $33,210

Q: Compute the December 31, 2020, amount of equity. Compute the debt to assets ratio at December 31,…

A: Hi student Since there are multiple questions, we will answer only first question. For first…

Q: On January 1, 2018, Kohl Corporation issued $700,000, 8%, 10-year bonds at face value. Interest is…

A: Bonds payable: It is a long term liability to the organization issuing it. It is issued to raise…

Q: Mara Company reported the following accounts on December 31, 2021: 50,000 180,000 Premium on bonds…

A: Introduction Bonds are investment securities that is issued by company and in which investor invest…

Q: ight-line interest expense on the December 31 annual income statement? (Enter your answer in whole…

A: Discount on bonds payable = Face value - Issue price =$60,0000,000-$55,537,005…