i need it urgent within 1 hours ( course INTERMEDIATE ACCOUNTING (ACT2122 1) Power house issues an $800,000, 9 , 8 year mortgage note on December 31, 2012, to help finance a new development program The terms provide for semiannual installment payments, not including real estate taxes and insurance, of $44,149 Payments are due June 30 and December 31 Instructions (a) Prepare an installment payments schedule for the first 2 years (b) Show how the total mortgage liability should be reported on the balance sheet at December 31, 2013 Presented below are two independent situations 1 Speedy Car Rental leased a car to Mayfield Company for one year Terms of the operating lease agreement call for monthly payments of $700 2 On January 1, 2010, Olsen Inc entered into an agreement to lease 30 computers from Gage Electronics The terms of the lease agreement require three annual rental payments of $30,000 (including 10 interest) beginning December 31, 2010 The present value of the three rental payments is $74,606 Olsen considers this a capital lease Instructions (a) Prepare the appropriate journal entry to be made by Mayfield Company for the first lease payment (b) Prepare the journal entry to record the lease agreement on the books of Olsen Inc on January 1, 2010 Nocioni Company issued $1,000,000 of bonds on January 1, 2010 Instructions (a) Prepare the journal entry to record the issuance of the bonds if they are issued at (1) 100, (2), 98, and (3) 103 (b) Prepare the journal entry to record the retirement of the bonds at maturity, assuming the bonds were issued at 100 (c) Prepare the journal entry to record the retirement of the bonds before maturity at 98 Assume the balance in Premium on Bonds Payable is $9,000 (d) Prepare the journal entry to record the conversion of the bonds into 30,000 shares of $10 par value common stock Assume the bonds were issued at par

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"i need it urgent within 1 hours ( course : INTERMEDIATE ACCOUNTING (ACT2122.1)"

Power-house issues an $800,000, 9%, 8-year mortgage note on December 31, 2012, to help finance a new development program. The terms provide for semiannual installment payments, not including real estate taxes and insurance, of $44,149. Payments are due June 30 and December 31. Instructions

(a) Prepare an installment payments schedule for the first 2 years.

(b) Show how the total mortgage liability should be reported on the balance sheet at December 31, 2013.

Presented below are two independent situations. 1. Speedy Car Rental leased a car to Mayfield Company for one year. Terms of the operating lease agreement call for monthly payments of $700. 2. On January 1, 2010, Olsen Inc. entered into an agreement to lease 30 computers from Gage Electronics. The terms of the lease agreement require three annual rental payments of $30,000 (including 10% interest) beginning December 31, 2010.The present value of the three rental payments is $74,606. Olsen considers this a capital lease. Instructions (a) Prepare the appropriate journal entry to be made by Mayfield Company for the first lease payment. (b) Prepare the journal entry to record the lease agreement on the books of Olsen Inc. on January 1, 2010.
Nocioni Company issued $1,000,000 of bonds on January 1, 2010. Instructions (a) Prepare the journal entry to record the issuance of the bonds if they are issued at (1) 100, (2), 98, and (3) 103. (b) Prepare the journal entry to record the retirement of the bonds at maturity, assuming the bonds were issued at 100. (c) Prepare the journal entry to record the retirement of the bonds before maturity at 98. Assume the balance in Premium on Bonds Payable is $9,000. (d) Prepare the journal entry to record the conversion of the bonds into 30,000 shares of $10 par value common stock. Assume the bonds were issued at par.