Chapter 10 Homework 2

Chapter 10 Homework 2 - Lease Obligation 10,166.83 b...

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Professor Smith ACCT151 20 November 2008 Chapter 10 Homework 2 E17,E9,E11,D4 E17) Jan1 Cash 109,862.00 Bond Payable 100,000.00 Bond Premium 9,862.00 Dec31 Interest Expense 9,000.00 Cash 9,000.00 Their interest rate is higher than the market interest rate E9) 1)a. no b. lease expense 2)a. Leased Asset 10,166.83
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Unformatted text preview: Lease Obligation 10,166.83 b. Interest Expense 120.80 Lease Obligation 1,389.20 Cash 1,510.00 c. d. 8,777.63 E11) 1) It would be an increase in an asset and an increase in a liability which effectively, would cancel each other out. 2) F, O, O...
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