Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Refer to the following list of Eability balances at December 31, 2019 $15,000 1.150 600 1.400 40,000 1,060 670 15,000 54,000 10,500 Accounts Payable Employee

image text in transcribed

Refer to the following list of Eability balances at December 31, 2019 $15,000 1.150 600 1.400 40,000 1,060 670 15,000 54,000 10,500 Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable (Due 2020) Long-Term Notes Payable (Due 2022) FICA-OASDI Taxes Payable Sales Tax Payable Mortgage Payable (Due 2023) Bonds Payable (Due 2024) Current Portion of Long-Term Notes Payable If$30,000 is invested for one year at an annual interest rate of 13%, it wil grow in value to- OA. $36.208 O B. $3,900 O C. $32.308 D. $33.900 OA. $109,000 OB. $94,000 C.$40,000 O D. $55.000 On January 1, 2019, Agree Company issued se5,000 of five-year, 8% bonds when the market interest rate was 12% The issue price of the bonds was $61.401 Agree uses the effective- interest method of amortization for bond discount Semiannual interest payments are made on June 30 and December 31 of each year Which of the folowing is the correct journal entry to record the first interest payment? (Round all amounts to the nearest whole dollar Alden Corp. has the following balances as of December 31, 2019 Total Assets Total Liabilities Total Equity $101,000 65,000 36,000 O A. Interest Expense 5,100 Cash 5,100 O B. Interest Expense 3.684 Calculate the debt to equity ratio. (Round your answer to two decimal points.) Diacount on Bonds Payable Cash 284 3400 OA 1.25 O C. Interest Expense 3.400 1,700 Discount on Bonds Payable B. 281 O C. 1.81 O D. 0.55 5.100 Cash O D. Interest Expense 5,100 Discount on Bonds Payable Cash 3.400 1,700

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing A Quality System For The Defense Industry

Authors: Charles B. Robinson

1st Edition

0873890787, 978-0873890786

More Books

Students also viewed these Accounting questions