WebJul 15, 2024 · Depreciation options and the choices they present can be complicated. Get help and simplify your accounting with tax services and expense management software . … WebIf a corporation's liability accounts report the following balances: Bonds Payable of $10,000,000; Discount on Bonds Payable of $200,000; Bond Issue Costs of $50,000, the carrying value of the bonds is $9,750,000. Free Financial Statements Cheat Sheet 541,740 Subscribers Related Business Forms
Did you know?
WebEstimated accumulated depreciation on the assets is $4,600,000. Bonds payable: Harlan has outstanding bonds payable of $2,600,000 as of December 31, 2024. Of this … WebAt least 95% of the net proceeds of exempt facility bonds must be used to provide an exempt facility, and at least 95% of the net proceeds of qualified small issue bonds must …
Weba. debenture bond The Discount on Bonds Payable a. is a miscellaneous revenue account b. is a contra account to Bonds Payable c. is expensed at the bond's maturity d. is an expense account e. has a normal credit balance b. is a contra account to Bonds Payable The discount on a bond payable becomes a. a liability in the year the bonds are sold WebDepreciation Expense 1,300 increase Bonds Payable 7,200 increase What was the amount of cash provided by operating activities? A. $84,200 B. $83,200 C. $85,500 D. $92,900 6. Crane Company reports the following information: Net cash provided by operating activities 341,000 Average current liabilities 146,000 Average long-term …
WebCompute the annual depreciation expense using the straight-line method.$2,950A gain is recorded on the sale of fixed assets when:the asset is sold for a price more than its book value. An equipment was purchased for $15,000. It has a useful life of 5 years and a residual value of $4,000. WebYear 1->depreciation expense=$34,000 ($85,000 × 40%). Subtracting the expense from the original cost yields a book value of $51,000 at the beginning of year 2. Year 2= …
Webpayable, the semiannual amortization amount is a. $8,000 b. $2,000 c. $4,000 d. $10,000 c. $4,000 11. Bonds with a face amount $1,000,000 are sold at 98. The entry to record the issuance is a. Cash Premium on Bonds Payable 1,000,000 20,000 Bonds Payable 980,000 b. Cash 980,000 Premium on Bonds Payable 20,000 Bonds Payable …
WebApr 5, 2024 · The following items should be subtracted from the business cash flow: travel and meals exclusion, tax liability and amount of any dividends, and. the total amount of … first inhabitants of japanWebAccounts Payable. select between increase and decrease For each of the following accounts, indicate the effect of a debit or a credit on the account and the normal balance. Expert Answer 100% (44 ratings) Hit … View the full … event operations in probabilityWebAt December 31 a company's records show the following information: Cash $10,000 Accounts Receivable 15,000 Inventory 50,000 .Prepaid Insurance 6, 000 Long-term Assets 120,000 Accounts Payable 30,000 Notes Payable due in 10 months 25,000 Wages Payable 5,000 Long-term Liabilities 80,000 Stockholders' (Owner's) Equity 106,000 Net … evento peak investmentsWeb-Depreciation Expense = ($87,000 - $7,000)/5 = $16,000 The report that shows the pay period dates, hours worked, gross pay, deductions, and net pay of each employee for every pay period is the payroll register. true A company estimates that warranty expense will be 4% of sales. The company's sales for the current period are $185,000. first inhabitants on earthfirst inheritances crosswordWebDepreciation Expense 3,000,000 Inventory 30,000,000 7,400,000 Prepaid Expenses 5,000,000 Interest 2.000,000 Plant & Equipment 30,000,000 5,400,000 Taxes (25%) … event operations specialist salaryWebBonds Payable– Borrow from investors who loan the company money to earn a return of interest income. The bond is a contract with the investor that loaned the money. Every … first inheritances crossword clue