Q: Computalog Inc. showed the following on its December 31, 2020
Computalog Inc. showed the following on its December 31, 2020, balance sheet: Bonds payable, convertible: $4,000,000 Less: Unamortized discount: 14,400: $3,985,600 Required 1. Assuming the bonds are c...
See AnswerQ: Trilium Gold Inc.’s December 31, 2020, adjusted trial
Trilium Gold Inc.’s December 31, 2020, adjusted trial balance shows the following: Required 1. What is the carrying value of the bonds on December 31, 2020? 2. The bonds were convert...
See AnswerQ: On December 31, 2020, Sack Port Ventures Inc. borrowed
On December 31, 2020, Sack Port Ventures Inc. borrowed $90,000 by signing a four-year, 5% installment note. The note requires annual payments of accrued interest and equal amounts of principal on Dece...
See AnswerQ: Use the data in Exercise 14-23 to prepare journal entries
Use the data in Exercise 14-23 to prepare journal entries that Sack Port Ventures Inc. would make to record the loan on December 31, 2020, and the four payments starting on December 31, 2021, through...
See AnswerQ: On December 31, 2020, KEC Environmental Corp. borrowed $
On December 31, 2020, KEC Environmental Corp. borrowed $100,000 by signing a four-year, 5% installment note. The note requires four equal payments of accrued interest and principal on December 31 of e...
See AnswerQ: Use the data in Exercise 14-25 to prepare journal entries
Use the data in Exercise 14-25 to prepare journal entries that KEC Environmental Corp. would make to record the loan on December 31, 2020, and the four payments starting on December 31, 2021, through...
See AnswerQ: On December 31, 2020, a day when the available interest
On December 31, 2020, a day when the available interest rate was 9%, Valcent Products Inc. leased equipment with an eight-year life. The contract called for an $8,400 annual lease payment at the end o...
See AnswerQ: For Solar Industries and its related but separate financing company Solar Financing
For Solar Industries and its related but separate financing company Solar Financing Corp, calculate the debt to equity ratio for 2019 and 2020. Explain why there are such significant differences in th...
See AnswerQ: Extra Gold Corporation had a $1,270,000,
Extra Gold Corporation had a $1,270,000, 6% bond available for issue on September 1, 2020. Interest is to be paid quarterly beginning November 30. All of the bonds were issued at par on October 1. Pre...
See AnswerQ: Omni Film Corporation had a $1,250,000,
Omni Film Corporation had a $1,250,000, 7% bond available for issue on April 1. Interest is to be paid on the last day of each month. On April 14 and 25, bonds with a face value of $890,000 and $360,0...
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