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i have provided anwsers and anwser sheet i need proper journal entries and showing of calculations
Chapter 10
Reporting and Analyzing Long-Term Liabilities
Quick Study 10-10 (10 minutes)
Ratio of debt to equity
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Canal Company |
Sears Company |
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Total liabilities |
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Total equity |
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Debt-to-equity ratio |
Analysis and interpretation:
Problem 10-2A (40 minutes)
Part 1
2011
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Jan. 1 |
Part 2
[Note: The semiannual amounts for (a), (b), and (c) below are the same throughout the bonds’ life because this company uses straight-line amortization.]
(a)
(b)
(c)
Part 3
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Thirty payments |
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Par value at maturity |
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Total repaid |
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Less amount borrowed |
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Total bond interest expense |
or:
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Plus discount |
Part 4
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Semiannual Period-End |
Unamortized Discount |
Carrying Value |
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1/01/2011 |
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6/30/2011 |
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12/31/2011 |
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6/30/2012 |
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12/31/2012 |
Part 5
2011
June 30
2011
Dec. 31
Problem 10-3A (40 minutes)
Part 1
2011
|
Jan. 1 |
Part 2
(a)
(b)
(c)
Part 3
Thirty payments
Par value at maturity
Total repaid
Less amount borrowed
Total bond interest expense
or:
|
Less premium |
Part 4
|
Unamortized Premium |
10-3A Continued
Part 5 Problem
Ethics Challenge — BTN 10-3
1.
Ethics Challenge – BTN 10 – 3 Continued
2.
Read Appendix 10D pg. 438 Leases and Pensions.
Answer the following Questions:
1. Why are Leases long-term liabilities?
2. How are they journalized?
3. Where are they accounted for in the financial Statements?
©McGraw-Hill Companies, 2013
530
Financial Accounting, 6th Edition
©McGraw-Hill Companies, 2013
531
Solutions Manual, Chapter 10
10-10 is above, the question with the table shown middle of pic
10-2A is below…………… it is the bottom question in the pic.
10-3A is below the very first part of pic
BTN below 10-3
