On December 31, 2017, Lopez Sales has a Bonds Payable balance of $72,000 and a Premium on Bonds Payable balance of $4,000. On the balance sheet, how will this information be shown?
A) $72,000 less premium of $4,000 for a net balance of $68,000
B) $72,000 less one-tenth of $4,000 for a net balance of $71,600
C) $72,000
D) $72,000 plus a premium of $4,000 for a net balance of $76,000
D .Bonds Payable $72,000
Add: Premium on Bonds Payable $4,000
Bond Carrying Amount $76,000
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Which of the following represents the largest group of consumers in the United States?
A. tweens B. Gen Y C. Gen X D. baby boomers E. boomerangs
Hagle Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and Year 1AssetsYear 2Year 1Current assets: Cash$279,000 $170,000 Accounts receivable, net 136,000 150,000 Inventory 141,000 150,000 Prepaid expenses 69,000 60,000 Total current assets 625,000 530,000 Plant and equipment, net 789,000 870,000 Total assets$1,414,000 $1,400,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$186,000 $190,000 Accrued liabilities 29,000 30,000 Notes payable, short term 74,000 70,000 Total current liabilities 289,000 290,000 Bonds payable 130,000 130,000 Total liabilities 419,000 420,000 Stockholders' equity: Common stock, $4 par
value 200,000 200,000 Additional paid-in capital 90,000 90,000 Retained earnings 705,000 690,000 Total stockholders' equity 995,000 980,000 Total liabilities & stockholders' equity$1,414,000 $1,400,000 Income StatementFor the Year Ended December 31, Year 2Sales (all on account)$1,280,000 Cost of goods sold 750,000 Gross margin 530,000 Operating expenses 489,429 Net operating income 40,571 Interest expense 12,000 Net income before taxes 28,571 Income taxes (30%) 8,571 Net income$20,000 Required:a. What is the company's accounts receivable turnover for Year 2?b. What is the company's average collection period for Year 2?c. What is the company's inventory turnover for Year 2?d. What is the company's average sale period for Year 2?e. What is the company's operating cycle for Year 2?f. What is the company's total asset turnover for Year 2? What will be an ideal response?
Most successful organizations minimize the need for explicit rules, regulations, and other boundaries by
A. designing effective reward systems. B. posting written statements of the organizational goals and objectives. C. encouraging employees to see themselves as free agents. D. discouraging the formation of subcultures that isolate work groups.
Puckett Inc. risk-adjusts its WACC to account for project risk. It uses a risk-adjusted project cost of capital of 8% for below-average risk projects, 10% for average-risk projects, and 12% for above-average risk projects. Which of the following independent projects should Puckett accept, assuming that the company uses the NPV method when choosing projects?
A. Project B, which has below-average risk and an IRR = 8.5%. B. Project C, which has above-average risk and an IRR = 11%. C. Without information about the projects' NPVs we cannot determine which project(s) should be accepted. D. All of these projects should be accepted. E. Project A, which has average risk and an IRR = 9%.