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0 Required information The following information applies to the questions displayed below) The Square Foot Grill, Inc. issued $260,000 of 10 year, 8 percent bonds
0 Required information The following information applies to the questions displayed below) The Square Foot Grill, Inc. issued $260,000 of 10 year, 8 percent bonds on July 1 Year 1, at 102. Interest is payable in cash semiannually on June 30 and December 31. The straight-line method is used for amortization b. Prepare the abilities section of the balance sheet at the end of Year 1 and Year 2" (Amounts to be deducted should be indicated with minus sign.) SQUARE FOOT GRILL, INC Talance sheet (Partial) As of December 31 Yout Year 2 Liabiti Bonds payable $ 200,000 $250.000 Not carrying value of bonds Totalities Required Information [The following information applies to the questions displayed below) The Square Foot Grill, Inc. Issued $260,000 of 10 year, 8 percent bonds on July 1, Year 1, at 102. Interest is payable in cash semiannually on June 30 and December 31. The straight-line method is used for amortization c. What amount of interest.expense will Square Foot report on the financial statements for Year 1 and Year 2? Year 1 Year 2 Interest expense Required information The following Information applies to the questions displayed below. The Square Foot Grill, Inc. Issued $260,000 of 10 year, 8 percent bonds on July 1, Year 1, at 102. Interest is payable in cash semiannually on June 30 and December 31. The straight-line method is used for amortization. d. What amount of cash will Square Foot pay for interest in Year 1 and Year 2? Year 1 Year 2 Cush outlow for interest
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