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dec4 - 46,928 discount 30,720 bond 500,000 c 2009 long term...

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Michael McCormick ACG 3103 P14-1 a discount b effective c stated rate is 11%; effective rate is 12% d cash 94,349 discount 5,651 bond 100,000 e interest exp 11,322 discount 322 payable 11,000 f interest exp 11,712 discount 712 payable 11,000 P14-4 cash 6,120,000 cash 4,750,000 premium 120,000 discount 250,000 bond11% 6,000,000 bond9% 5,000,000 bond9% 5,000,000 bond 5,000,000 loss 300,000 discount -100,000 discount 100,000 book value 4,900,000 cash 5,200,000 b reported as a ordinary loss P14-8 a 12/31/2007 computer 273,205 discount 126,795 note 400,000 b 12/31/2008 dep. Exp 44,641 A/D 44,641 interest exp 27,321 discount 27,321 c 12/31/2009 dep. exp 44,641 A/D 44,641 interest exp 30,053 discount 30,053 P14-10 a cash 3,135,000 premium 90,000 bond 3,000,000 interest exp 45,000 bond exp 27,000 cash 27,000
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Michael McCormick ACG 3103 P14-10 b interest exp 46,928 cash 469,280 discount
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Unformatted text preview: 46,928 discount 30,720 bond 500,000 c 2009 long term 2010 100000 as LT 150000 as current 2011 long term 2012 long term 2013 long term 2014 long term d none CA14-3 a(1) $926.00 a(2) Current Liability: bond 1,000 discount 74 926 note: $1000 5 yr. bond with a coupon rate of 9% discount at 11%. Bond is callable at 101 b interest expense c 2,007 926 2,008 74 934 2,009 66 941 2,010 59 lower. As the discount decreases the value of the bond increase d 1,010 CA14-5 a b c Pitt should not record the plant as an asset until Pitt takes control. d No, Pitt should record the plant as an asset when Pitt takes control e Any information that will not end up on the balance sheet....
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