172.Sharma Company's balance sheet reflects total assets of $250,000 and total liabilities of $150,000. Calculate the company's debt-to-equity ratio.

173.On October 1 of the current year a corporation issued (sold) $1,000,000 of its 12% bonds at par plus accrued interest.The bonds were dated July 1 of this year. What amount of bond interest expense should the company report on its current year income statement?

174.A company issued 9%, 10-years bonds with a par value of $1,000,000 on September 1, Year 1 when the market rate was 9%. The bonds were dated June 30, Year 1. The bond issue price included accrued interest. Interest is paid semiannually on December 31 and June 30. (a) Prepare the issuer's journal entry to record the issuance of the bonds on September 1. (b) Prepare the issuer's journal entry to record the semiannual interest payment on December 31, Year 1.

175.On June 1, a company issued $200,000 of 12% bonds at their par value plus accrued interest. The interest on these bonds is payable semiannually on January 1 and July 1. Prepare the issuer's journal entry to record the bond issuance of June 1.

176.Johanna Corporation issued $3,000,000 of 8%, 20-year bonds payable at par value on January 1. Interest is payable each June 30 and December 31. (a) Prepare the general journal entry to record the issuance of the bonds on January 1. (b) Prepare the general journal entry to record the first interest payment on June 30.

Answer rating: 100% (QA)

172 The debttoequity ratio is calculated by dividing total liabilities by total equity In this case ... View the full answer