Question
Monty Corp. sold $2,080,000, 5%, 5-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest on January 1. Monty
Monty Corp. sold $2,080,000, 5%, 5-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest on January 1. Monty Corp. uses the straight-line method to amortize bond premium or discount.
Show the balance sheet presentation for the bond issue at December 31, 2022, using (1) the 104 selling price, and then (2) the 99 selling price. (Enter account name only and do not provide descriptive information.)
| Monty Corp. Balance Sheet choose the accounting period For the Year Ended December 31, 2022For the Quarter Ended December 31, 2022December 31, 2022 | ||||||
|---|---|---|---|---|---|---|
| Premium | ||||||
| select an opening name for subsection one Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders Equity | ||||||
| enter a balance sheet item | $enter a dollar amount | |||||
| select an opening name for subsection two Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders Equity | ||||||
| enter a balance sheet item | $enter a dollar amount | |||||
| select between addition and deduction AddLess: enter a balance sheet item | enter a dollar amount | $enter a total amount for this part of the balance sheet | ||||
| Monty Corp. Balance Sheet choose the accounting period For the Year Ended December 31, 2022For the Quarter Ended December 31, 2022December 31, 2022 | ||||||
|---|---|---|---|---|---|---|
| Discount | ||||||
| select an opening name for subsection one Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders Equity | ||||||
| enter a balance sheet item | $enter a dollar amount | |||||
| select an opening name for subsection two Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders Equity | ||||||
| enter a balance sheet item | $enter a dollar amount | |||||
| select between addition and deduction AddLess: enter a balance sheet item | enter a dollar amount | $enter a total amount for this part of the balance sheet | ||||
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Accounting
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
28th Edition
1337902683, 978-1337902687
