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Please answer Questions #4, 5, and 6 and explain how you get to the correct answers. Thanks! The following information comes directly from Verizon's Notes
Please answer Questions #4, 5, and 6 and explain how you get to the correct answers. Thanks!
The following information comes directly from Verizon's Notes to the Financial Statements Early Debt Redemption and Other Costs During the fourth redemption of 2014, we recorded net debt redemption costs of $0.5 billion in connection with the early redemption of $5.0 billion of various outstanding notes...through cash tender offers. The entry that Verizon recorded for the early redemption of the debt referenced above included which of the following? (choose all that apply) A decrease in Assets for the cash paid to purchase the debt. An increase in Assets for the cash received from early redemption A decrease in Liabilities equal to the carrying value of the debt redeemed. An increase in OE upon redemption. A decrease in OE upon redemption. Use the following information to answer the following 2 questions The following information comes directly from Verizon's Notes to the Financial Statements Fair value information: If Verizon had chosen to use the FV option for reporting the debt shown above, what would be true at December 31, 2014? (choose all that apply) The FV adjustment account would have a $13, 794 credit balance. The FV adjustment account would have a $126, 549 credit balance. The FV adjustment account would have a $13, 794 debit balance. The balance sheet would recognize both the Carrying Amount of $112, 755 and the Fair Value of $126, 549. Any related discount or premium accounts would not be impacted by the changes in Fair Value. If Verizon had chosen to the FV option for reporting all of its debt and if there was no new debt issu or retired in 2015, which of the following statements would be true for the 2015 financial statements? (Choose the single best answer) In 2015 Verizon would have recorded an unrealized holding loss on its debt $8, 979. In 2015 Verizon would have recorded an unrealized holding loss on its debt of $4, 815. In 2015 Verizon would have recorded an unrealized holding loss on its debt of $8, 979. In 2015 Verizon would have recorded an unrealized holding gain on its debt of $4, 815. There is not enough information to answer thisStep by Step Solution
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