Cornerstone Exercise 9-22 (Algorithmic) Reporting Long-Term Debt on the Balance Sheet Dennis Corp. Has the following bonds: a. $110,000 in bonds that have $2,000 of unamortized discount associated with them. B. $110,000 in bonds that have $3,000 of unamortized premium associated with them. Required: Prepare the balance sheet presentation for these two bonds

Answers

Answer 1

Reporting long-term debt with unamortized premium or discount on the balance sheet requires calculating the carrying value of each bond, classifying the bonds as long-term debt, reporting the bonds under the appropriate section on the balance sheet, and disclosing the unamortized premium or discount in the notes to the financial statements. By following these steps, a company can accurately present its long-term debt obligations to its stakeholders.

Dennis Corp. has two types of bonds with different amounts of unamortized premium and discount associated with them. To prepare the balance sheet presentation for these two bonds, we need to follow the following steps:

Calculate the carrying value of each bond:

The carrying value is the book value of the bond on the balance sheet, and it is calculated as the face value of the bond plus any unamortized premium or minus any unamortized discount. In the case of Dennis Corp., we have:

Bond A: Carrying value = Face value - Unamortized discount = $110,000 - $2,000 = $108,000

Bond B: Carrying value = Face value + Unamortized premium = $110,000 + $3,000 = $113,000

Classify the bonds as long-term debt:

Since both bonds have a maturity of more than one year, they are considered long-term debt and should be classified as such on the balance sheet.

Report the bonds under the appropriate section on the balance sheet:

Long-term debt should be reported under the liabilities section of the balance sheet. Specifically, Bond A should be reported as a long-term liability of $108,000, and Bond B should be reported as a long-term liability of $113,000.

Disclose the unamortized premium or discount:

The unamortized premium or discount should be disclosed in the notes to the financial statements. For example, we can disclose that Bond A has a $2,000 unamortized discount and Bond B has a $3,000 unamortized premium.

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Related Questions

Do you think every working American needs a 401(k) account or an IRA? Why or why not?


No links
Need ASAP

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Answer:

Both 401(k) accounts and IRAs are retirement savings accounts that allow individuals to save for retirement on a tax-advantaged basis. Contributions to these accounts are tax-deductible, and the earnings on the investments grow tax-free until they are withdrawn during retirement.

There are some benefits to having a 401(k) account or an IRA. They allow individuals to save for retirement in a tax-efficient way, and can provide a significant source of income during retirement. In addition, many employers offer matching contributions to 401(k) accounts, which can be a valuable incentive to participate.

However, there are also some drawbacks to these types of accounts. For example, they are subject to market fluctuations and the investment risk is borne by the individual. In addition, there are limits on how much can be contributed each year, which may not be enough to provide for a comfortable retirement.

Whether or not every working American needs a 401(k) account or an IRA depends on individual circumstances. For some people, these accounts may be a valuable tool for saving for retirement. For others, different types of retirement savings accounts or strategies may be more appropriate. Ultimately, it is up to each individual to determine the best approach for their own retirement planning.

Which figure (amount) should be larger?
A. Expenses
B. income
C. Extras
D. Needs

Answers

ANSWER:

Income

WHY:

The expenses and extras and needs should all add up to the income and the income should be over these expenses


MARK ME BRAINLIEST PLEASE

Open society foundation disadvantages

Answers

Answer:

The open society does not work for people that do not want to be productive member of society.

The main disadvantage is in getting support if you really need it, and aren’t capable of figuring it out on your own.

Explanation:

a group of companies that produce the same goods or services that joins together to ensure all can survive in the marketplace is an example of , whereas one company that gains control of every aspect of a business, from raw materials to marketing, is an example of .

Answers

A group of companies that produce the same goods or services that joins together to ensure all can survive in the marketplace is an example of  An oligopoly.

What occurs when one business can meet the whole market's demand for goods or services?When one firm and its product control a whole sector of the economy, there is little to no competition and customers are forced to buy the particular product or service from the one company.At the beginning of the nineteenth century, corporations were almost nonexistent, and all commercial operations were small. By the turn of the century, American industries were mostly controlled by massive companies.Before the invention of the open hearth furnace, the Bessemer process was the first low-cost industrial method for producing large quantities of steel from molten pig iron.

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outline 2 advantages to H&H of using secondary market research​

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Answer:

Explanation:
It provides quick information and factual background perspectives
It is less expensive and affordable

stories in organizations that convey the values, style, and history of an organization are called

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Stories in organizations that convey the values, style, and history of an organization are called organizational stories.

Organizational stories are narratives that are passed down through generations of employees and stakeholders to convey the identity and culture of the organization. These stories often contain symbols, myths, and legends that represent the values, beliefs, and practices of the organization. By sharing these stories, organizations are able to preserve their heritage and shape the attitudes and behaviors of their members. Organizational stories can also be used to inspire and motivate employees, build relationships with customers, and create a sense of community within the organization.

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What are loans to government and companies? please hellppzz

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Answer:

loans for a company is when they pull out more money than they have then using it and it has to be repaid

Explanation:

It is when they pull out some amount of money they you have to pay them back slowly

i am very confused on this part of the assignment it kinda makes no sense to me.

i am very confused on this part of the assignment it kinda makes no sense to me.

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The resultant effects on he books in Financial Accounting of the activities on the left result in the triggers on Assets and Liabilities etc on the right.

What is the Match or result of the above-given activities on the Left?

Issued common stock to investors in exchange for cash received from investors. - Increase in assets and increase in equity.Paid monthly rent. - Decrease in assets and decrease in equity.Received cash from customers when service was performed. - Increase in assets and increase in equity.Billed customers for services performed. - Increase in assets and increase in equity.Paid dividends to stockholders. - Decrease in assets and decrease in equity.Incurred advertising expense on account. - Increase in expenses and increase in liabilities.Received cash from customers billed in (4). - Increase in assets and decrease in accounts receivable.Purchased additional equipment for cash. - Increase in assets and decrease in cash.Purchased equipment on account. - Increase in assets and increase in liabilities.

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Which of the following ways is not something you can do to protect yourself against sending payments to the wrong person when using a p2p payment app or service

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Use a PIN to access your P2P app or service. In this way we can do to protect ourselves against sending payments to the wrong person when using a p2p payment app or service.

What is P2P app or service?

Peer-to-peer services are platforms that link participants to a transaction directly, cutting out the middleman.

Peer-to-peer services use technology to reduce the transaction costs associated with asymmetries in information, enforcement, and trust that have historically been handled by relying on third intermediaries.

Peer-to-peer systems provide its customers with services including money processing, buyer and seller data, and quality assurance.

File-sharing platforms, such the music-sharing programme Napster, which debuted in 1999, helped popularise the peer-to-peer model of today. Millions of internet users were able to immediately connect, establish groups, and work together through the peer-to-peer movement to construct their own search engines, virtual supercomputers, and file systems.

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The Allen Export Company ships sugar to many overseas ports. Over the years the company has stacked large bags of sugar onto pallets for shipping. Because of a lumber shortage, pallets for export have become very difficult to obtain. The management of Allen Export has presented the dock manager with the challenge of reducing the number of wooden pallets used and/or to find a new way to supplement or change their stevedoring system.

Answers

Answer:

Throughout the given scenario following are the points, should be achieved to reduce the pallet crisis.

Explanation:

The export business faces the above-mentioned issue of that same lack of wooden pallets towards distribution.

The tightly packed sugar bags might be utilized easily, allowing for easy release of pallets and therefore also available for several other reasons or uses.Rather than just being placed throughout pallets the enterprise should contain sugar bags in what seems like different warehouses.

a television ad for sports equipment shows a woman in a bathing suit playing volleyball on the beach. posttesting showed that there was low brand recall, even though the ad had high stopping power. which component should be evaluated to improve the effectiveness of the ad?

Answers

The component that should be evaluated to improve the effectiveness of the ad is the message encoding, which includes how the message is constructed and presented to the audience.

In this case, the ad may have high stopping power (i.e., it captures the audience's attention), but the message encoding may not be effectively conveying the brand and its benefits. The ad may be memorable because of the woman in the bathing suit playing volleyball, but it may not be effectively communicating the brand's message. By evaluating and improving the message encoding, the ad can be made more effective and increase brand recall.

What is message encoding?

Message encoding refers to the process of converting a message, idea or thought into a form or language that can be understood by the receiver. It involves selecting appropriate words, symbols, or images to convey the message effectively. Encoding is a critical step in the communication process as it affects the clarity, accuracy, and effectiveness of the message being conveyed. The encoding process can vary depending on the channel and medium used for communication, as well as the audience being targeted.

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Why are natural monopolies allowed to exist?​

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Natural monopolies are allowed when a single company can supply a product or service at a lower cost than any potential competitor, and at a volume that can service an entire market. ... Since it's economically sensible to have utilities operate as natural monopolies, governments allow them to exist.

What is the basis of the law of demand?
Group of answer choices

Self-interested behavior

Marginal utility

Utility curves

Market timing

Answers

market timing

Explanation:

because that way u wont miss customers

what would be the best leadership strategy for a giver

Answers

Answer:

depends on the situation give me a strategy and ill give you why it would be the best

Weyerhaeuser Incorporated has a balance sheet that lists $90 million in assets, $56 million in liabilities, and $34 million in common shareholders' equity. It has 1 million common shares outstanding. The replacement cost of its assets is $101 million. Its share price in the market is $50. Its book value per share is _________.

Answers

Weyerhaeuser Incorporated's book value per share is $34.

To calculate the book value per share for Weyerhaeuser Incorporated, we need to consider its common shareholders' equity and the number of common shares outstanding. Hence,

1. Determine the common shareholders' equity: $34 million

2. Determine the number of common shares outstanding: 1 million shares

3. Calculate the book value per share by dividing common shareholders' equity by the number of common shares outstanding.

Book Value per Share = Common Shareholders' Equity / Number of Common Shares Outstanding

Book Value per Share = $34 million / 1 million shares

Book Value per Share = $34

So, the book value per share for Weyerhaeuser Incorporated is $34.

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While Joe doesn't consider himself _____, he does think it is important to shed light on the unethical practices occurring within the industry.

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Answer:

maybe heroic

Explanation:

While Joe doesn't consider himself HEROIC, he does think it is important to shed light on the unethical practices occurring within the industry.

While Joe doesn't consider himself heroic, he does think it is important to shed light on the unethical practices occurring within the industry.

What are unethical practices?

Conduct that deviates from social norms or is perceived adversely by the public is referred to as "unethical behavior." Ethical behavior is the exact opposite of unethical behavior.

A wide range of acts that people may take in their personal or professional life that are seen adversely by their society or some elements of it are referred to as "unethical behaviors" by people.

The following are some general obstacles to problem-solving: failing to preserve high moral standards Morally objectionable actions include illegal and unethical business practices and immoral and unethical behavior.

Thus, While Joe doesn't consider himself heroic,

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If government spending increases or personal income taxes decrease, what are the likely effects on output, price level, and interest rates?

Price Level / Output / Interest Rates


1) Increase / Increase / Decrease

2) Increase / Increase / Increase

3) Decrease / Increase / Decrease

4) Decrease / Decrease / Decrease

5) Decrease / Decrease / Increase

Answers

When there is an increase in government spending, there will be an increase on the output, price level, and interest rates

What is a government spending?

This refers to the funds injected to the public sector on the acquisition of services such as education, healthcare, social protection, defense etc.

Most time, the effect of an an increase in government spending leads to an increase on the output, price level, and interest rates as it is a method of stimulate demand.

Therefore, the Option A is correct.

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what is the best way to respond to those outside your organization if you must refuse their request?

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When one must decline a request from someone outside the organization, the best course of action is to first express gratitude for their interest and then politely explain the reason for the refusal.

The refusal to ask might put anyone in an embarrassing situation because morality teaches us to assist others whenever they ask for it from the time we are young. Nevertheless, even if we are a part of an organization, we cannot assist everyone. Take employment or recruitment as an example. A large number of people apply for various jobs in this situation.

But, there aren't many openings, which isn't enough to satisfy everyone's needs. Hence, many of the candidates, someone must be rejected because they lack the necessary skills or are not chosen for some other reason. In this instance, the human resources employee rejects the candidate's suggestion in a constructive manner.

This is accomplished by first thanking them for their application, asking them for their best responses, and then politely informing them of the rejection. It must never be such that it undermines the person's spirits.

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wausau window and wall systems started this process with a commitment from the ceo that he and all other managers in the company would be trained in program fundamentals. using this problem-solving methodology, wausau relentlessly pursued higher quality and lower costs at its window trim plant. intensive analysis led to a redesigned workflow that improved productivity by 100%.

Answers

This process with a vow from the CEO that he and all other managers in the business would be taught in programme principles. a new workflow was created that increased productivity by 100%.

Wausau's window trim business steadfastly pursued improved quality and cheaper prices using a problem-solving approach. A revised procedure that tripled production was the result of thorough investigation. Can Six Sigmathe series of actions required to move from the start of a working process to its conclusionJust keep it simple, dude (KISS)It implies that you should write your code as simply as you can. One of the tenets of fundamental programming is to avoid getting bogged down in trying to be extremely clever or bragging with a big block of sophisticated code. If a script can be written in a single line, do so.

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If you are interviewed by more than one person, you should send a thank-you note to _____.


each person in the interview

each person you see in the building

the first person you are introduced to

the person who is obviously leading the interview

Answers

Answer:

option A is correct.

i.e.

each person in the interview.

Explanation:

Because thank-you letter provides a simple but effective way to express gratitude to all the individuals you met with.

4 On 1 July 20-6 Mumtaz started a business. The following are her transactions for the first two weeks of trading:​

Answers

Mumtaz started a commercial enterprise. the following are her transactions for the primary weeks of trading:​ can do economic transactions thru cellular banking using a smartphone.

Definition of transaction: something transacted specially: a trade or switch of goods, services, or funds digital transactions. b transactions plural: the often posted record of the meeting of a society or affiliation: an act, system, or example of transacting.

Examples of transactions are as follows: Paying a provider for offerings rendered or items added. Paying a seller with coins and notice so that you can attain ownership of belongings previously owned by means of the seller. Paying an employee for hours worked.

In accounting, a transaction in any financial commercial enterprise event impacts a commercial enterprise's monetary statements. because transactions include any occasion that has an economic effect on your monetary data, there are a whole lot of items that are transactions.

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The amount of a market that a producer controls is called market share. How is market share related to pure competition?​

Answers

Answer:

pure competition ids defined as a market structure with many fully informed buyers and sellers in an identical producer and ease of entry. if there were more market shares, there would be more competition.

Explanation:

Hanson Company has an inexperienced accountant. During the first month on the job, the accountant made the following errors in journalizing transactions. All entries were posted as made.

1. The purchase of supplies for $650 cash was debited to Equipment $210 and credited to Cash $210.

2. A $500 withdrawal of cash for B. Hanson's personal use was debited to Salaries and Wages Expense $900 and credited to Cash $900.

3. A payment on account of $820 to a creditor was debited to Accounts Payable $280 and credited to Cash $280.

Prepare the correcting entries.

Answers

1. The supplies purchase of $650 cash incorrectly debited to Equipment ($210) and credited to Cash ($210). The correcting entry debits Supplies for $440 and credits Cash for $440.

2. The $500 cash withdrawal for personal use incorrectly debited to Salaries and Wages Expense ($900) and credited to Cash ($900). The correcting entry debits B. Hanson, Drawing (or Owner's Withdrawal) for $500 and credits Cash for $500.

3. The $820 payment on account incorrectly debited to Accounts Payable ($280) and credited to Cash ($280). The correcting entry debits Accounts Payable for $540 and credits Cash for $540.

Here's an explanation of the correcting entries made to rectify the errors made by the inexperienced accountant:

1. The first error occurred when the accountant incorrectly debited the purchase of supplies to the Equipment account instead of debiting it to the Supplies account. To correct this, the Supplies account needs to be debited for the correct amount of $440 (the original purchase of $650 minus the incorrect debit of $210). Additionally, the Cash account needs to be credited for the same amount of $440 to reflect the cash payment made for the supplies.

2. The second error was made when the accountant incorrectly debited the cash withdrawal for personal use to the Salaries and Wages Expense account. To correct this, the appropriate account to debit is B. Hanson, Drawing (or Owner's Withdrawal), for the amount of $500, representing the withdrawal of cash for personal use. The Cash account needs to be credited for the same amount of $500 to reflect the reduction in cash due to the withdrawal.

3. The third error occurred when the accountant incorrectly debited the payment on account to the Accounts Payable account. To correct this, the Accounts Payable account needs to be debited for the correct amount of $540 (the original payment of $820 minus the incorrect debit of $280). The Cash account needs to be credited for the same amount of $540 to reflect the cash payment made to the creditor.

By making these correcting entries, the errors in the original journal entries are rectified, and the accounts will now reflect the accurate and appropriate transactions. It is essential to promptly correct these errors to ensure the accuracy of the financial records and financial reporting of the company.

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Why is it important to write a zero-based budget every month?

Answers

Answer:

It is important to write a zero-based budget every month because the zero-based budget ensures that every dollar you make is assigned a specific purpose.

Explanation:

What is the main difference between a market demand curve and a market demand schedule?.

Answers

A demand schedule is a desk that suggests the quantity demanded at every charge. A call for curve is a graph that shows the quantity demanded at each charge. Every so often the call for curve is likewise called a call for agenda because it is a graphical illustration of the call for scheduls.

A demand schedule is a listing that indicates the quantity demanded in any respect viable fees that might prevail in the market at a given time, whereas a call for curve is a graph that shows the quantity demanded at every and every viable charge that would succeed in the marketplace at a given time.

The individual demand curve shows the small quantity of call for for a commodity however the market call for curve shows a large volume of quantity call for made by way of the complete client within the market.

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Which of the following is the exchange rate policy where the government intervenes in the exchange rate system only in a limited way? A. Managed float B. Fixed peg C. Free float D. Currency board

Answers

The exchange rate policy where the government intervenes in the exchange rate system only in a limited way is option A) Managed float.

The exchange rate policy where the government intervenes in the exchange rate system only in a limited way is known as a managed float. In a managed float system, the exchange rate is allowed to fluctuate freely based on market forces of supply and demand. However, the government may intervene occasionally to influence the exchange rate or to prevent excessive volatility.

In a managed float, the government may set certain guidelines or boundaries within which the exchange rate can fluctuate, and it may use its foreign exchange reserves to buy or sell its currency in the foreign exchange market to stabilize or manage the exchange rate.

This approach allows some flexibility in the exchange rate while still allowing the government to intervene if necessary. It provides a balance between market forces and government control over the exchange rate.

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Over the past 4 years an investment returned 18%, −9%, −12%, and 15%. What is the standard deviation of returns?

Answers

The standard deviation of the given returns is approximately 13.3%.

To calculate the standard deviation of returns, you can follow these steps:

1. Calculate the average return (also known as the mean) by summing up all the returns and dividing by the number of returns:

  Average Return = (18% + (-9%) + (-12%) + 15%) / 4 = 3%

2. Calculate the deviation of each return from the average return. This is done by subtracting the average return from each individual return:

  Deviation = Return - Average Return

  For the given returns:

  Deviation1 = 18% - 3% = 15%

  Deviation2 = -9% - 3% = -12%

  Deviation3 = -12% - 3% = -15%

  Deviation4 = 15% - 3% = 12%

3. Square each deviation:

  Squared Deviation = Deviation^2

  Squared Deviation1 = 15%^2 = 225%

  Squared Deviation2 = (-12%)^2 = 144%

  Squared Deviation3 = (-15%)^2 = 225%

  Squared Deviation4 = 12%^2 = 144%

4. Calculate the average of the squared deviations (also known as the variance) by summing up all the squared deviations and dividing by the number of returns:

  Variance = (225% + 144% + 225% + 144%) / 4 = 177%

5. Finally, calculate the standard deviation by taking the square root of the variance:

  Standard Deviation = √(Variance) = √(177%) ≈ 13.3%

Therefore, the standard deviation of the given returns is approximately 13.3%.

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Differentiate the Single and Double Entry Book-Keeping in your own words. Furthermore, briefly explain the objectives of Double Entry Book-Keeping.

Answers

Answer:

See below

Explanation:

A single entry book keeping is when a cash book is being maintained to record income and expenses. In a single entry book keeping, only one entry is made per transaction like we have in check register.

Double entry book keeping is when an accounting entries have two sides, debit and credit leg. The right hand side is the debit while the left side is the credit.

Objectives of double entry book keeping

• To provide accurate recording of business transactions to management

• When there are problems in financial matters, book keeping assist in solving this problems through its systematic record of financial transactions .

• Book keeping also provide information to the management for making plans and decisions relating to finances.

Harrison works in a manufacturing unit and oversees the logistics, including the daily shipping of a large number of packages. Which information
system will he use in the unit to keep track of the deliveries?
OA.
office support system
ОВ.
decision support system
OC.
management information system
OD.
executive information system
O E
transaction processing system

Harrison works in a manufacturing unit and oversees the logistics, including the daily shipping of a

Answers

transaction processing system

How many milliliters are in 1 quart?

Answers

There are 946.353 milliliters in 1 quart
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