The long-term liability section of Twin Digital Corporation's balance sheet
ProfArgeol
cstephenson_wk4problems_042511.xlsxP14-15
| Student Name: | ||||
| Class: | ||||
| Problem 14-15 | ||||
| A&G WAREHOUSERS | ||||
| Amortization Schedule | ||||
| Requirement 1 Present value (price) of note: | ||||
| Interest | ||||
| Principal | ||||
| Present value (price) of the note | ||||
| A&G WAREHOUSERS | ||||
| General Journal | ||||
| Account | Debit | Credit | ||
| Requirement 2: | ||||
| Amortization Schedule | ||||
| Dec. | Cash | Interest | Increase in | Outstanding |
| 31 | Interest | 10% | Balance | Balance |
| 2009 | ||||
| 2010 | ||||
| 2011 | ||||
| 2012 | ||||
| *rounded | ||||
| Requirement 3: | ||||
| A&G WAREHOUSERS | ||||
| General Journal | ||||
| Account | Debit | Credit | ||
| Requirement 4: | ||||
| Loan Amount | ||||
| Multiplier | ||||
| Installment Payment | ||||
| Requirement 5: | ||||
| Amortization Schedule | ||||
| Effective | ||||
| Dec. | Cash | Interest | Increase in | Outstanding |
| 31 | Interest | 10% | Balance | Balance |
| 2009 | ||||
| 2010 | ||||
| 2011 | ||||
| 2012 | ||||
| *rounded | ||||
| Requirement 6: | ||||
| A&G WAREHOUSERS | ||||
| General Journal | ||||
| Account | Debit | Credit | ||
Given P14-15
| Given Data P14-15: | |
| A&G WAREHOUSERS | |
| Note issue | $100,000 |
| Term of note issue (years) | 4 |
| Note issue interest rate | 5% |
| Comparison interest rate | 10% |
P14-21
| Problem 14-21 |
| Requirement 1 |
| Bonds payable |
| Premium on bonds |
| Gain on early extinguishment |
| Cash |
| Requirement 2 |
| Bonds payable |
| Premium on bonds |
| Gain on early extinguishment |
| Cash |
