Answer all questions and provide all the solutions. Please make solutions very easy to find and visible!
Grocery Corporation receved $327,328 tor 1050 percent bonds Issued on January1,2015, t a merket interest rete of 7 50 percent The bonde hed & total fece velue of 5274,000, stered that intereet would be paid each December 31, and elaled that lhey ialure in 10 years. Required: Camplete the folowing tabe far eath account by ind caling (a) whelher ili repored the Daarce Shiee BS ar Incama Statermet(h) thr dalar arnount by whirh the account incrensas, deoass, or docs rat anne (D} when Gmory Corporation issuert the bands: nd c] the diction of Changa n the Romunt |Increase, decreese, or ro engel when Grocery Corporation recorts The Interest payment on December 31 Account (b) Issuance (c) Interest Paid Dards Payabe Discaunt an Bands Payabls ntrestExpens Premium an Bands Payabc The following moonaton apples to the awestions displayed Deea Ahers Cocks s resilerofweil, mertle, znc grandfather clacks ard is ocsted in the Empire: Mal in Sioux cleck had orginally cost Anlers $6Aume Ahlers uses a percetia invantory system, Raqulrad Informatlon 100 points 2. Prepare the, numal entrins mand for tre abova transactions. (H no entry is required for a transactionievent, select "No Journal Entry Required" In the first account feld.) View transaction list Journal entry worksheet Record the sales revenue of $10,aad plus 4 percent sales tax. s heforc credi General Journal Debit Credit Record entry Clear entry view general journal 6 100 polnts Buzz Caffee Shops is farmous for its large serings of ht coffee. Aefaus case lvingcDovnad's, the lawyer far Bz wamed managmet(dunrg 2011) that it auld he sund if somearne wern a spll hat cofanard be burnad.-with the temparatuna ne your coffRe, l aan guaranten it sjust mRMarnt time, before you're sued tor $10O,0 Buzz tet the likellhood wes remote Untortunenaly n 2013, the lewyer's prediction came tie when a customer fled sur. Ater consulting witn his attomey, Buzz felt the lo88 W98 possble but not ikey or probsble. The cgee went to trial in 2014, nd the jury awarded the cuslomer 54C0,C00 in darnagee, wih he copy rialely appesled. Buzz fel a lues was prubabe bul beleved a lower ainaunl coube ealiatd During 2015, thurmer and the cempany seted their dispute for S150,00. Slale wich of he folowing slalereilfs) are re. Select all that apply.) he iahility is nossible Buzz must dsdose the liablity in a nate because the trial judgmen makes the ikeihaa liabiity prabable, however e arraurit of the lves stil is at estimable because a wer aunt isexpecled to be negtated) t , Buzz must now record lhe loss c lhe iability because, lhe oulof courl se leren made lhe $150,000 loss oeriai. BuzE ITIJsl deduse, in a role lhal s !enial labiliy exists beceuse lhe iaunty is uuesibe in 2013. Buzz nusl record or decloee Uhe liabilily because Uhe charice of he liablily ocurring is rerle i 2014 Buzz rusl dedusu tn, lablily because riechene ofthe liabiily ouuurring is rerwe i" 2015 Grocery Corporation receved $327,328 tor 1050 percent bonds Issued on January1,2015, t a merket interest rete of 7 50 percent The bonde hed & total fece velue of 5274,000, stered that intereet would be paid each December 31, and elaled that lhey ialure in 10 years. Required: Camplete the folowing tabe far eath account by ind caling (a) whelher ili repored the Daarce Shiee BS ar Incama Statermet(h) thr dalar arnount by whirh the account incrensas, deoass, or docs rat anne (D} when Gmory Corporation issuert the bands: nd c] the diction of Changa n the Romunt |Increase, decreese, or ro engel when Grocery Corporation recorts The Interest payment on December 31 Account (b) Issuance (c) Interest Paid Dards Payabe Discaunt an Bands Payabls ntrestExpens Premium an Bands Payabc The following moonaton apples to the awestions displayed Deea Ahers Cocks s resilerofweil, mertle, znc grandfather clacks ard is ocsted in the Empire: Mal in Sioux cleck had orginally cost Anlers $6Aume Ahlers uses a percetia invantory system, Raqulrad Informatlon 100 points 2. Prepare the, numal entrins mand for tre abova transactions. (H no entry is required for a transactionievent, select "No Journal Entry Required" In the first account feld.) View transaction list Journal entry worksheet Record the sales revenue of $10,aad plus 4 percent sales tax. s heforc credi General Journal Debit Credit Record entry Clear entry view general journal 6 100 polnts Buzz Caffee Shops is farmous for its large serings of ht coffee. Aefaus case lvingcDovnad's, the lawyer far Bz wamed managmet(dunrg 2011) that it auld he sund if somearne wern a spll hat cofanard be burnad.-with the temparatuna ne your coffRe, l aan guaranten it sjust mRMarnt time, before you're sued tor $10O,0 Buzz tet the likellhood wes remote Untortunenaly n 2013, the lewyer's prediction came tie when a customer fled sur. Ater consulting witn his attomey, Buzz felt the lo88 W98 possble but not ikey or probsble. The cgee went to trial in 2014, nd the jury awarded the cuslomer 54C0,C00 in darnagee, wih he copy rialely appesled. Buzz fel a lues was prubabe bul beleved a lower ainaunl coube ealiatd During 2015, thurmer and the cempany seted their dispute for S150,00. Slale wich of he folowing slalereilfs) are re. Select all that apply.) he iahility is nossible Buzz must dsdose the liablity in a nate because the trial judgmen makes the ikeihaa liabiity prabable, however e arraurit of the lves stil is at estimable because a wer aunt isexpecled to be negtated) t , Buzz must now record lhe loss c lhe iability because, lhe oulof courl se leren made lhe $150,000 loss oeriai. BuzE ITIJsl deduse, in a role lhal s !enial labiliy exists beceuse lhe iaunty is uuesibe in 2013. Buzz nusl record or decloee Uhe liabilily because Uhe charice of he liablily ocurring is rerle i 2014 Buzz rusl dedusu tn, lablily because riechene ofthe liabiily ouuurring is rerwe i" 2015
