Business, 26.01.2021 03:00 engbarthcobie

Sarasota Corporation sold $2,800,000,6%, 5-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest on January 1. Sarasota Corporation uses the straight-line method to amortize bond premium or discount. Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2022, assuming that the bonds sold at 105. (Credit account titles are automatically indented when amount is entered. Do not indent manua Date Account Titles and Explanation Debit Credit Jan. 1 Dec 31 eTextbook and Media List of Accounts Prepare journal entries to record the issuance of the bonds and bond interest expense for 2022, assuming that the bonds sold at 95. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Jan 1 Dec 31 (1) Show the balance sheet presentation for the bond issue at December 31, 2022, using the 105 selling price. SARASOTA CORPORATION Balance Sheet (Partial)
(2) Show the balance sheet presentation for the bond issue at December 31, 2022, using the 95 selling price. SARASOTA CORPORATION Balance Sheet (Partial)

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 20:20

Miller mfg. is analyzing a proposed project. the company expects to sell 8,000 units, plus or minus 2 percent. the expected variable cost per unit is $11 and the expected fixed costs are $287,000. the fixed and variable cost estimates are considered accurate within a plus or minus 5 percent range. the depreciation expense is $68,000. the tax rate is 32 percent. the sales price is estimated at $64 a unit, plus or minus 3 percent. what is the earnings before interest and taxes under the base case scenario?

Answers: 1

Answer

Business, 22.06.2019 12:30

Suppose you win a small lottery and have the choice of two ways to be paid: you can accept the money in a lump sum or in a series of payments over time. if you pick the lump sum, you get $2,950 today. if you pick payments over time, you get three payments: $1,000 today, $1,000 1 year from today, and $1,000 2 years from today. 1) at an interest rate of 6% per year, the winner would be better off accepting the (lump sum / payments over time), since it has the greater present value. 2) at an interest rate of 9% per year, the winner would be better off accepting the (lump sum / payments over time), since it has the greater present value. 3) years after you win the lottery, a friend in another country calls to ask your advice. by wild coincidence, she has just won another lottery with the same payout schemes. she must make a quick decision about whether to collect her money under the lump sum or the payments over time. what is the best advice to give your friend? a) the lump sum is always better. b) the payments over time are always better. c) it will depend on the interest rate; advise her to get a calculator. d) none of these answers is good advice.

Answers: 2

Answer

Business, 22.06.2019 15:10

Popeye produces 20 cans of spinach in 8 hours. wimpy produces 15 hamburgers in 10 hours. if each hamburger trades for 1.5 cans of spinach, then: a.wimpy’s production and productivity are greater than popeye’s. b.popeye’s production is greater than wimpy’s, but his productivity is less. c.wimpy’s production is greater than popeye’s, but his productivity is less. d.popeye’s production and productivity are greater than wimpy’s.

Answers: 3

Answer

Business, 22.06.2019 19:00

When making broccoli cream soup, the broccoli and aromatics should be a. burned. b. simmered. c. puréed. d. sweated.

Answers: 2

Answer

You know the right answer?

Sarasota Corporation sold $2,800,000,6%, 5-year bonds on January 1, 2022. The bonds were dated Janua...

Questions