ovde i baigais. ncrease in casa balance being of the year cash balance at the end of the year On January 1, 2019 Papermaker's Inc. issued a and received $442.647 in cash proceeds. The man pay interest semiannually on July I and January amortization. Prepare Papermaker's Inc.'s you January 1, 2020.3 points) Inc. issued a 10-year, 10% bonds payable with a par value of $500.000, ds. The market rate of interest at the date of issuance was 12%. The bonds and January 1. Papermaker's Inc. uses the effective interest method for Inc.'s journal entry to record the second semiannual interest payment on 4. Ichabod Corp. issued 10-year, 9% bonds, with a Corp. issued 10-year. 9% bonds, with a par value of $500,000 when the market rate was 9.5%. Chubod Corp. received 484.087 in cash roceeds Prepare Ichabod Corp's journal entry to record the bond issuance. (3 points) 7 CHABODS Chapter 11 5. On August 1. Surelock Homes Corporation issued 20,000 shares of par value common stock in exchange for 400.000 cash. The common stock has a par value of $0.10 per share. Prepare the general journal entry to record this transaction. (3 points) Page 9 of 12 6. The Lord of the Fries Corporation had the following som declared an $80,000 cash dividend in the current year. Las year in business and $25,000 in dividends was paid out has been the same since the Lord of the "stock outstanding when the company's board of director Last year was the Lord of the Fries Corporation's first he amount of preferred stock issued and outstanding "poration's inception (beginning). acest be balance the Preferred Stock, $100 par, 7%, 5,000 shares issued Common Stock, S1 par, 75,000 shares issued Allocate the cash dividend between the preferred and common stockholders assuming une cumulative and nonparticipating. (3 points) Stockholders assuming the preferred stock is Preferred Stock dividend amount Common Stock dividend amount Allocate the cash dividend between the preferred and common stockholders assuming the preferred STOCK noncumulative and nonparticipating. Same $80,000 dividend as above, same $25,000 in dividends paid out last year. (3 points) Preferred Stock dividend amount Common Stock dividend amount Page 10 of 12 sing the information below. pel Care for the period ending December 31, 2019. (13 points) pare a full statement of cash flows for B.A.A.D (Best All Around Dealy DAAD Carpet Care Income Statement For the Year Ended December 11, 2019 BAAD Carpet Care Comparative Balance Sheet December 31, 2018 and December 11, 2019 Sales Cost of Goods Sold Gross Profit 2019 2018 130,000 50,000 80,000 Assets Cashprovided Operating Expenses 14,000 Net increase to 11,000 15,000 4,000 Depreciation Expense Other Expenses Total Operating Expenses Cash balanc Cash bale 11,000 38,000 Cash Accounts Receivable Inventory Prepaid expenses Plant Assets Accumulated Depreciation - Plant Assets Total Assets 15,000 14.000 17.000 7,000 25,000 18.000 55.000 49,000 (19.000 74.000 31,000 Other Gains (Losses) Loss on sale of plant assets Income before taxes Income tax expense Liabilities (3,000) 28,000 8,000 Net Income Accounts Payable Salaries Payable Notes Payable (long term) Common Stock Si par value Retained Earnings 20,000 12.000 12,000 5,000 10,000 34,000 21,000 3,000 10,000 6,000 20.000 Total Liabilities and Equity 56,000 74,000 Additional Information Plant Asset (equipment) of $30,000 was purchased using cash during 2019 Plant asset (land) costing $5,000 was sold for $3,000 cash in 2019 4,000 shares of common stock were issued for cash in 2019 at $1 per share $4,000 note was paid using cash in 2019 Cash dividends of $5,000 were paid in 2019 (use the back) Page 11 of 12 20.90