Question: 1: Marigold Corp. issues 6200, 10-year, 8%, $1000 bonds dated January 1, 2020, at 103. The journal entry to record the issuance will show a

1: Marigold Corp. issues 6200, 10-year, 8%, $1000 bonds dated January 1, 2020, at 103.

The journal entry to record the issuance will show a

debit to Cash of $6200000. credit to Cash for $6386000. credit to Bonds Payable for $6237200. credit to Premium on Bonds Payable for $186000.

The adjusted trial balance for Sunland Company at the end of the current year, 2020, contained the following accounts.

5-year Bonds Payable 8% $1610000 Interest Payable 53600 Premium on Bonds Payable 161000 Notes Payable (3 mo.) 40000 Notes Payable (5 yr.) 145000 Mortgage Payable ($10000 due currently) 300000 Salaries and Wages Payable 18000 Taxes Payable (due 3/15 of 2021) 25000

The total long-term liabilities reported on the balance sheet are

$2045000. $2206000. $2216000. $2055000.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

4:The adjusted trial balance for Swifty Corporation at the end of the current year, 2020, contained the following accounts. 5-year Bonds Payable 8% $1550000 Interest Payable 51800 Premium on Bonds...

Bramble Corp. issues 6500, 10-year, 8%, $1000 bonds dated January 1, 2020, at 103. The journal entry to record the issuance will show a O debit to Premium on Bonds Payable for $195000. O credit to...

Flounder Corp. issues 4500, 10-year, 8%, $1000 bonds dated January 1, 2020, at 103. The journal entry to record the issuance will show a O credit to Cash for $4635000. O debit to Premium on Bonds...

Pina Colada Corp. issues 5200, 10-year, 8%, $1000 bonds dated January 1, 2020, at 103. The journal entry to record the issuance will show a O credit to Cash for $5356000. O debit to Premium on Bonds...

Flounder Corp. issues 4500, 10-year, 8%, $1000 bonds dated January 1, 2020, at 103. The journal entry to record the issuance will show a debit to Cash of $4500000. debit to Premium on Bonds Payable...

Question 8 of 20 View Policies Current Attempt in Progress a Martinez Corp. issues 880, 10-year, 8%, $1000 bonds dated January 1, 2020, at 96. The journal entry to record the issuance will show O...

Waterway Industries issues 5800, 10-year, 8%, $1000 bonds dated January 1, 2020, at 103. The journal entry to record the issuance will show a which one ?? Waterway Industries issues 5800,10 -year,...

please do both questions in 30 minutes please urgently... I'll give you up thumb definitely Question 46 of 56 View Policies Current Attempt in Progress Sheridan Company compiled the following...

Four thousand bonds with a face value of $1,000 each, are sold at 105. The entry to record the issuance is a. Cash 4,200,000 Bonds Payable 4,200,000 b. Cash 4,000,000 Premium on Bonds Payable 200,000...

11. 12. 13. On January 1, 2020, $2140000, 10-year, 10% bonds, were issued for $2050000. Interest is paid annually on January 1. If the issuing corporation uses the straight-line method to amortize...

Find all six trigonometric functions of angle t associated with the point a. b. d. sint C. sint e. sint = sint = sint= 5 " 3 3 156 COST= COSI = Cost = COS! = 3 COST= 156' S tant = 65 tant =...

I watched a fairly recent Batman movie, The Dark Knight". In this movie, Alfred, the butler, tells his boss "some men just want to see the world burn". Does this opinion have any relevance to this...

The 7 internal control procedures are establishing responsibility, maintain adequate records, ensure assets and bond key employees, separate record keeping from custody of assets, divide...

You are now conducting your third annual audit of the accounts of A Company Ltd for the year ended 30 June 2019. You decide to use unrestricted random number statistical sampling techniques in...

Discuss the value of adult learning theory to HRD interventions

Cite recent perspectives from instructional and cognitive psychology that have importance for HRD

Conduct a task analysis for a job of your choosing