Homework Answers
Premium is the excess of bond proceeds over the par value of issued bonds.
It is added to bonds payable because it is the excess amount over par value.
It is presented immediately after par value of bonds under "long-term liabilities".
The answer is (A)
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9. Which of the following is TRUE of a premium on bonds payable? A) A premium...
Which of the following is true of a Discount on Bonds Payable account? It is subtracted...
Which of the following is true of a Discount on Bonds Payable account? It is subtracted from the Bonds Payable balance and shown with the current liabilities on the balance sheet. It is added to the Bonds Payable balance and shown with long-term liabilities on the balance sheet. It is added to the Bonds Payable balance and shown with stockholders' equity on the balance sheet. It is subtracted from the Bonds Payable balance and shown with long-term liabilities on the...
please answer the following multiple choice Which of the following is the amount the borrower must...
please answer the following multiple choice
Which of the following is the amount the borrower must pay back to the bondholders? 7 A) Market value B) Present value C) Stated interest value D) Principal amount 8. Which of the following describes the term maturity date? A) The date on which each interest payment is made B) The date on which the bond is issued C) The date on which the principal amount is repaid to the bondholder D) The date...
On the balance sheet, the account Premium on Bonds Payable is: Select one: A. Added to...
On the balance sheet, the account Premium on Bonds Payable is: Select one: A. Added to Bond Interest Expense B. Deducted from Bond Interest Expense C. Added to Bonds Payable D. Deducted from Bonds Payable
1. Which of the following sections of the statement of cash flows include activities that increase...
1. Which of the following sections of the statement of cash flows include activities that increase and decrease long-term liabilities and stockholders' equity? A) the investing section B) the non-cash investing and financing section C) the financing section D) the operating section 2. Walker Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet: Walker Corp. Comparative Balance Sheet December 31, 2014 and 2013 2014 2013 Increase/degrease Cash...
Question 1 Which of the following is NOT true about the Balance Sheet? The balance sheet...
Question 1 Which of the following is NOT true about the Balance Sheet? The balance sheet shows Assets O The balance sheet shows retained earnings The balance sheet shows that total assets equals to liabilities plus equity Deferred revenue is NOT an item on the balance sheet. Which of the following statement is NOT true? O Current Assets are assets that can be converted into cash in a year or less O Current liabilities are liabilities that needs to be...
C) increase if bonds are issued at par D) increase if bonds are issued at a...
C) increase if bonds are issued at par D) increase if bonds are issued at a discount 10) Current liabilities fall into two categories, which are referred to as: A) contra liabilities and contingent liabilities B) contingent liabilities and non contingent liabilities C) liabilities of a known amount and liabilities whose amount must be estimated D) liabilities of a known amount and contingent liabilities 11) Bonds with a face value of $100,000 were sold at an effective rate of 10%...
24. The balance in Premium on Bonds Payable a. should be reported on the balance sheet...
24. The balance in Premium on Bonds Payable a. should be reported on the balance sheet as a deduction from the related bonds payable b. should be allocated to the remaining periods for the life of the bonds by the straight- line method, if the results obtained by that method materially differ from the results that would be obtained by the interest method c. would be added to the related bonds payable on the balance sheet d. should be reported...
true or false 19. The balance in Premium on Bonds Payable should be reported as a...
true or false
19. The balance in Premium on Bonds Payable should be reported as a deduction from Bond Payable on the balance sheet.
The year-end balance of the Premium on Bonds Payable is Group of answer choices deducted from...
The year-end balance of the Premium on Bonds Payable is Group of answer choices deducted from Bonds Payable on the balance sheet. shown on the income statement as an expense. shown on the income statement as a revenue. shown on the statement of cash flows as an operating activity. added to Bonds Payable on the balance sheet.
Exercise 9-14A Preparing a classified balance sheet LO 9-6 points Required Use the following information to...
Exercise 9-14A Preparing a classified balance sheet LO 9-6 points Required Use the following information to prepare a classified balance sheet for Alpha Co, at the end of Year 1. Book Accounts receivable Accounts payable Cash Common stock Land Long-term notes payable Merchandise inventory Retained earnings $26,500 12,200 20,500 30,000 10,000 17,500 26,300 23,600 ALPHA CO. Classified Balance Sheet As of December 31, Year 1 Current assets Total current assets Property, plant and equipment Total property, plant and equipment Total...
please answer the following multiple choice
Which of the following is the amount the borrower must pay back to the bondholders? 7 A) Market value B) Present value C) Stated interest value D) Principal amount 8. Which of the following describes the term maturity date? A) The date on which each interest payment is made B) The date on which the bond is issued C) The date on which the principal amount is repaid to the bondholder D) The date...
1. Which of the following sections of the statement of cash flows include activities that increase and decrease long-term liabilities and stockholders' equity? A) the investing section B) the non-cash investing and financing section C) the financing section D) the operating section 2. Walker Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet: Walker Corp. Comparative Balance Sheet December 31, 2014 and 2013 2014 2013 Increase/degrease Cash...
Question 1 Which of the following is NOT true about the Balance Sheet? The balance sheet shows Assets O The balance sheet shows retained earnings The balance sheet shows that total assets equals to liabilities plus equity Deferred revenue is NOT an item on the balance sheet. Which of the following statement is NOT true? O Current Assets are assets that can be converted into cash in a year or less O Current liabilities are liabilities that needs to be...
C) increase if bonds are issued at par D) increase if bonds are issued at a discount 10) Current liabilities fall into two categories, which are referred to as: A) contra liabilities and contingent liabilities B) contingent liabilities and non contingent liabilities C) liabilities of a known amount and liabilities whose amount must be estimated D) liabilities of a known amount and contingent liabilities 11) Bonds with a face value of $100,000 were sold at an effective rate of 10%...
24. The balance in Premium on Bonds Payable a. should be reported on the balance sheet as a deduction from the related bonds payable b. should be allocated to the remaining periods for the life of the bonds by the straight- line method, if the results obtained by that method materially differ from the results that would be obtained by the interest method c. would be added to the related bonds payable on the balance sheet d. should be reported...
true or false
19. The balance in Premium on Bonds Payable should be reported as a deduction from Bond Payable on the balance sheet.
Exercise 9-14A Preparing a classified balance sheet LO 9-6 points Required Use the following information to prepare a classified balance sheet for Alpha Co, at the end of Year 1. Book Accounts receivable Accounts payable Cash Common stock Land Long-term notes payable Merchandise inventory Retained earnings $26,500 12,200 20,500 30,000 10,000 17,500 26,300 23,600 ALPHA CO. Classified Balance Sheet As of December 31, Year 1 Current assets Total current assets Property, plant and equipment Total property, plant and equipment Total...
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