Interest expense on bonds payable
[DOC File]CHAPTER 10
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Dec. 31 Bond Interest Expense 10,400. Discount on Bonds Payable 400. Bond Interest Payable 10,000 (To record accrued bond interest and amortization of bond discount) Over the term of the bonds, the balance in Discount on Bonds Payable will decrease annually by the same amount until it has a zero balance at the maturity date of the bonds.
[DOC File]P14-5 (Comprehensive Bond Problem) In each of the ...
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Sep 03, 2010 · 9/1/01 Interest Expense 14,163 Discount on Bonds Payable 1,663 Cash 12,500 12/31/01 Interest Expense 9,508 Discount on Bonds Payable 1,175 ($1,762 X 4/6) Interest Payable ($12,500 X 4/6) 8,333 3/1/02 Interest Expense 4,754 Interest Payable 8,333 Discount on Bonds Payable 587 ($1,762 X 2/6) Cash 12,500 9/1/02 Interest Expense 14,368 Discount on ...
[DOC File]Practice Exam Chapters 1 - 4 seventh
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Interest is payable each year on January 1 and July 1. Each $1,000 bond is convertible into 5 shares of Macon’s no par common stock. On June 30, 2015, ½ of the outstanding bonds were converted to stock when Macon’s common stock had a market price of $10 per share.
[DOC File]gar003, Chapter 3 Systems Design: Job-Order Costing
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C) The numerator of the ratio consists of net income plus interest expense times the tax rate. D) The numerator of the ratio consists of net income plus interest expense times one minus the tax rate. Level: Easy LO: 2 Ans: D. 19. Which of the following is not a source of financial leverage? A) Bonds payable. B) Accounts payable.
[DOC File]Practice Problem 2
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10,000 2 Jul. 1 Interest Expense. Premium on Bonds Payable. Cash 9,625. 375 10,000 3 Dec. 31 Interest Expense. Premium on Bonds Payable. Interest Payable 9,625. 375 10,000 Homework Problem 4. Glaser Corporation. filename: M6T1G4.html. Glaser Corporation issued $500,000 of 10-year, 8% bonds at 98 on January 1, 2000. Interest is payable on ...
[DOC File]FA Chapter 10 SM .edu
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2. 2007 Nov. 30 Bond Interest Expense 4,006 Discount on Bonds Payable 506 Cash 3,500 To record 6 months’ interest and discount amortization. Dec. 31 Bond Interest Expense 668 Discount on Bonds Payable 84 Interest Payable 584 To record one month's accrued interest
[DOC File]P14-3 Premium Amortization Schedule with Retirement …
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Jun 12, 2010 · Prepare journal entries to record the purchase of the bonds, the interest receipts on April 30, 2010 and October 31, 2010, and the sales of the bonds. P15-18 Change to Equity Method On January 1, 2010, Lion Company paid $600,000 for 10,000 shares of Wolf Company’s voting common stock, which was a 10% interest in Wolf.
[DOC File]Chap10, Ch10, Liabilities
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2 Bond Interest Payable 135,000. Bond Interest Expense 135,000. Cash 270,000. To record payment of semiannual interest. ($6,000,000 x 9% x 1/2) 3 $405,000 interest expense. Since the bonds were issued at par, interest expense is equal to the contractual interest for the period that the bonds were outstanding. ($6,000,000 x 9% x 9/12 = $405,000)
[DOC File]Multiple-Choice Questions - CPA Diary
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a. Notes payable. b. Interest expense. c. Accounts payable. d. Bonds payable. 8. easy. a The auditor’s independent estimate of interest expense from notes payable uses average interest rates and: a. average notes payable outstanding. b. year-end notes payable outstanding. c. only notes payable above the level of materiality.
[DOC File]CHAPTER 1
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Income Before Income Taxes + Interest Expense Interest Expense The higher the interest coverage ratio, the lower the company’s risk will be of defaulting on interest payments. 6. The most common types of long-term debt are bonds payable, notes payable, mortgages payable, long-term leases, pension liabilities, other postretirement benefits ...
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