SlideShare ist ein Scribd-Unternehmen logo
1 von 1
Downloaden Sie, um offline zu lesen
Accounting for Notes Issues at a Premium The Longo Corporation issued $3 million maturity
value of 8 percent coupon rate notes, with interest paid semiannually. At the time of the note
issuance, equivalent risk-rated debt instruments carried a yield rate of 6 percent. The notes
matured in 5 years. Calculate the proceeds that the Longo Corporation would receive from the
sale of the notes. Round your answer to the nearest dollar. $ How will the notes be reported on
Longo's balance sheet immediately following the sale? Round your answers to the nearest dollar.
Calculate the interest expense on the notes for the first year. Round answers to the nearest dollar.
Calculate the book value of the notes at the end of the first year. Round answer to the nearest
dollar.

Weitere ähnliche Inhalte

Mehr von manjulakriwala

Ages of American women at first marriageIs there evidence that the.pdf
 Ages of American women at first marriageIs there evidence that the.pdf Ages of American women at first marriageIs there evidence that the.pdf
Ages of American women at first marriageIs there evidence that the.pdf
manjulakriwala
 
According to a study, the proportion of poople who are satisfied with.pdf
 According to a study, the proportion of poople who are satisfied with.pdf According to a study, the proportion of poople who are satisfied with.pdf
According to a study, the proportion of poople who are satisfied with.pdf
manjulakriwala
 

Mehr von manjulakriwala (19)

All solar systems break down into the binary pattern of rocky, smalle.pdf
 All solar systems break down into the binary pattern of rocky, smalle.pdf All solar systems break down into the binary pattern of rocky, smalle.pdf
All solar systems break down into the binary pattern of rocky, smalle.pdf
 
Account Titles and Explanation Debit Credit 2. Feb. 4.pdf
 Account Titles and Explanation Debit Credit 2. Feb. 4.pdf Account Titles and Explanation Debit Credit 2. Feb. 4.pdf
Account Titles and Explanation Debit Credit 2. Feb. 4.pdf
 
Ali took a stats test and scored an 91. The class average on this pa.pdf
 Ali took a stats test and scored an 91. The class average on this pa.pdf Ali took a stats test and scored an 91. The class average on this pa.pdf
Ali took a stats test and scored an 91. The class average on this pa.pdf
 
Alequired 2-a s b. Whing UkO, calculabe inding invecoory ane cant of.pdf
 Alequired 2-a s b. Whing UkO, calculabe inding invecoory ane cant of.pdf Alequired 2-a s b. Whing UkO, calculabe inding invecoory ane cant of.pdf
Alequired 2-a s b. Whing UkO, calculabe inding invecoory ane cant of.pdf
 
Al observar los datos de secuencia de un individuo sano, observa qu.pdf
 Al observar los datos de secuencia de un individuo sano, observa qu.pdf Al observar los datos de secuencia de un individuo sano, observa qu.pdf
Al observar los datos de secuencia de un individuo sano, observa qu.pdf
 
AirTunes 2 Protocol Contents - Introduction - Credits - Streaming aud.pdf
 AirTunes 2 Protocol Contents - Introduction - Credits - Streaming aud.pdf AirTunes 2 Protocol Contents - Introduction - Credits - Streaming aud.pdf
AirTunes 2 Protocol Contents - Introduction - Credits - Streaming aud.pdf
 
Ahsict 11. 14A hospical directoe believes that 37 of the lab repo.pdf
 Ahsict 11. 14A hospical directoe believes that 37 of the lab repo.pdf Ahsict 11. 14A hospical directoe believes that 37 of the lab repo.pdf
Ahsict 11. 14A hospical directoe believes that 37 of the lab repo.pdf
 
Adult Bufflehead ducks in marine environments prefer shrimp but will .pdf
 Adult Bufflehead ducks in marine environments prefer shrimp but will .pdf Adult Bufflehead ducks in marine environments prefer shrimp but will .pdf
Adult Bufflehead ducks in marine environments prefer shrimp but will .pdf
 
Ahe yrasia the axte y=1 in.pdf
 Ahe yrasia the axte y=1 in.pdf Ahe yrasia the axte y=1 in.pdf
Ahe yrasia the axte y=1 in.pdf
 
Ages of American women at first marriageIs there evidence that the.pdf
 Ages of American women at first marriageIs there evidence that the.pdf Ages of American women at first marriageIs there evidence that the.pdf
Ages of American women at first marriageIs there evidence that the.pdf
 
Afferent Arteriole Collecting Duct Distal Convoluted Tubule Efferent .pdf
 Afferent Arteriole Collecting Duct Distal Convoluted Tubule Efferent .pdf Afferent Arteriole Collecting Duct Distal Convoluted Tubule Efferent .pdf
Afferent Arteriole Collecting Duct Distal Convoluted Tubule Efferent .pdf
 
After researching the competitors of EJH Enterprises, you deter.pdf
 After researching the competitors of EJH Enterprises, you deter.pdf After researching the competitors of EJH Enterprises, you deter.pdf
After researching the competitors of EJH Enterprises, you deter.pdf
 
According to AC Lens, green eye color is one of the rarest with only .pdf
 According to AC Lens, green eye color is one of the rarest with only .pdf According to AC Lens, green eye color is one of the rarest with only .pdf
According to AC Lens, green eye color is one of the rarest with only .pdf
 
Adult Bufflehead ducks in marine environments prefer shrimp. If a Buf.pdf
 Adult Bufflehead ducks in marine environments prefer shrimp. If a Buf.pdf Adult Bufflehead ducks in marine environments prefer shrimp. If a Buf.pdf
Adult Bufflehead ducks in marine environments prefer shrimp. If a Buf.pdf
 
Add a CSS selector to set the same border for links and images. You n.pdf
 Add a CSS selector to set the same border for links and images. You n.pdf Add a CSS selector to set the same border for links and images. You n.pdf
Add a CSS selector to set the same border for links and images. You n.pdf
 
Adding more memory increases page fault A lock + condition variable(s.pdf
 Adding more memory increases page fault A lock + condition variable(s.pdf Adding more memory increases page fault A lock + condition variable(s.pdf
Adding more memory increases page fault A lock + condition variable(s.pdf
 
Adding $500 to the Testing task of your software development project .pdf
 Adding $500 to the Testing task of your software development project .pdf Adding $500 to the Testing task of your software development project .pdf
Adding $500 to the Testing task of your software development project .pdf
 
According to a study, the proportion of poople who are satisfied with.pdf
 According to a study, the proportion of poople who are satisfied with.pdf According to a study, the proportion of poople who are satisfied with.pdf
According to a study, the proportion of poople who are satisfied with.pdf
 
Across 2. Fibrous carbohydrate molecules that form cell walls of fun.pdf
 Across 2. Fibrous carbohydrate molecules that form cell walls of fun.pdf Across 2. Fibrous carbohydrate molecules that form cell walls of fun.pdf
Across 2. Fibrous carbohydrate molecules that form cell walls of fun.pdf
 

Kürzlich hochgeladen

Jual Obat Aborsi Hongkong ( Asli No.1 ) 085657271886 Obat Penggugur Kandungan...
Jual Obat Aborsi Hongkong ( Asli No.1 ) 085657271886 Obat Penggugur Kandungan...Jual Obat Aborsi Hongkong ( Asli No.1 ) 085657271886 Obat Penggugur Kandungan...
Jual Obat Aborsi Hongkong ( Asli No.1 ) 085657271886 Obat Penggugur Kandungan...
ZurliaSoop
 

Kürzlich hochgeladen (20)

Food safety_Challenges food safety laboratories_.pdf
Food safety_Challenges food safety laboratories_.pdfFood safety_Challenges food safety laboratories_.pdf
Food safety_Challenges food safety laboratories_.pdf
 
80 ĐỀ THI THỬ TUYỂN SINH TIẾNG ANH VÀO 10 SỞ GD – ĐT THÀNH PHỐ HỒ CHÍ MINH NĂ...
80 ĐỀ THI THỬ TUYỂN SINH TIẾNG ANH VÀO 10 SỞ GD – ĐT THÀNH PHỐ HỒ CHÍ MINH NĂ...80 ĐỀ THI THỬ TUYỂN SINH TIẾNG ANH VÀO 10 SỞ GD – ĐT THÀNH PHỐ HỒ CHÍ MINH NĂ...
80 ĐỀ THI THỬ TUYỂN SINH TIẾNG ANH VÀO 10 SỞ GD – ĐT THÀNH PHỐ HỒ CHÍ MINH NĂ...
 
Sociology 101 Demonstration of Learning Exhibit
Sociology 101 Demonstration of Learning ExhibitSociology 101 Demonstration of Learning Exhibit
Sociology 101 Demonstration of Learning Exhibit
 
Jual Obat Aborsi Hongkong ( Asli No.1 ) 085657271886 Obat Penggugur Kandungan...
Jual Obat Aborsi Hongkong ( Asli No.1 ) 085657271886 Obat Penggugur Kandungan...Jual Obat Aborsi Hongkong ( Asli No.1 ) 085657271886 Obat Penggugur Kandungan...
Jual Obat Aborsi Hongkong ( Asli No.1 ) 085657271886 Obat Penggugur Kandungan...
 
Wellbeing inclusion and digital dystopias.pptx
Wellbeing inclusion and digital dystopias.pptxWellbeing inclusion and digital dystopias.pptx
Wellbeing inclusion and digital dystopias.pptx
 
SOC 101 Demonstration of Learning Presentation
SOC 101 Demonstration of Learning PresentationSOC 101 Demonstration of Learning Presentation
SOC 101 Demonstration of Learning Presentation
 
General Principles of Intellectual Property: Concepts of Intellectual Proper...
General Principles of Intellectual Property: Concepts of Intellectual  Proper...General Principles of Intellectual Property: Concepts of Intellectual  Proper...
General Principles of Intellectual Property: Concepts of Intellectual Proper...
 
How to Create and Manage Wizard in Odoo 17
How to Create and Manage Wizard in Odoo 17How to Create and Manage Wizard in Odoo 17
How to Create and Manage Wizard in Odoo 17
 
Plant propagation: Sexual and Asexual propapagation.pptx
Plant propagation: Sexual and Asexual propapagation.pptxPlant propagation: Sexual and Asexual propapagation.pptx
Plant propagation: Sexual and Asexual propapagation.pptx
 
Interdisciplinary_Insights_Data_Collection_Methods.pptx
Interdisciplinary_Insights_Data_Collection_Methods.pptxInterdisciplinary_Insights_Data_Collection_Methods.pptx
Interdisciplinary_Insights_Data_Collection_Methods.pptx
 
ICT role in 21st century education and it's challenges.
ICT role in 21st century education and it's challenges.ICT role in 21st century education and it's challenges.
ICT role in 21st century education and it's challenges.
 
HMCS Max Bernays Pre-Deployment Brief (May 2024).pptx
HMCS Max Bernays Pre-Deployment Brief (May 2024).pptxHMCS Max Bernays Pre-Deployment Brief (May 2024).pptx
HMCS Max Bernays Pre-Deployment Brief (May 2024).pptx
 
UGC NET Paper 1 Mathematical Reasoning & Aptitude.pdf
UGC NET Paper 1 Mathematical Reasoning & Aptitude.pdfUGC NET Paper 1 Mathematical Reasoning & Aptitude.pdf
UGC NET Paper 1 Mathematical Reasoning & Aptitude.pdf
 
HMCS Vancouver Pre-Deployment Brief - May 2024 (Web Version).pptx
HMCS Vancouver Pre-Deployment Brief - May 2024 (Web Version).pptxHMCS Vancouver Pre-Deployment Brief - May 2024 (Web Version).pptx
HMCS Vancouver Pre-Deployment Brief - May 2024 (Web Version).pptx
 
How to setup Pycharm environment for Odoo 17.pptx
How to setup Pycharm environment for Odoo 17.pptxHow to setup Pycharm environment for Odoo 17.pptx
How to setup Pycharm environment for Odoo 17.pptx
 
REMIFENTANIL: An Ultra short acting opioid.pptx
REMIFENTANIL: An Ultra short acting opioid.pptxREMIFENTANIL: An Ultra short acting opioid.pptx
REMIFENTANIL: An Ultra short acting opioid.pptx
 
Towards a code of practice for AI in AT.pptx
Towards a code of practice for AI in AT.pptxTowards a code of practice for AI in AT.pptx
Towards a code of practice for AI in AT.pptx
 
Micro-Scholarship, What it is, How can it help me.pdf
Micro-Scholarship, What it is, How can it help me.pdfMicro-Scholarship, What it is, How can it help me.pdf
Micro-Scholarship, What it is, How can it help me.pdf
 
Fostering Friendships - Enhancing Social Bonds in the Classroom
Fostering Friendships - Enhancing Social Bonds  in the ClassroomFostering Friendships - Enhancing Social Bonds  in the Classroom
Fostering Friendships - Enhancing Social Bonds in the Classroom
 
How to Give a Domain for a Field in Odoo 17
How to Give a Domain for a Field in Odoo 17How to Give a Domain for a Field in Odoo 17
How to Give a Domain for a Field in Odoo 17
 

Accounting for Notes Issues at a Premium The Longo Corporation issued.pdf

  • 1. Accounting for Notes Issues at a Premium The Longo Corporation issued $3 million maturity value of 8 percent coupon rate notes, with interest paid semiannually. At the time of the note issuance, equivalent risk-rated debt instruments carried a yield rate of 6 percent. The notes matured in 5 years. Calculate the proceeds that the Longo Corporation would receive from the sale of the notes. Round your answer to the nearest dollar. $ How will the notes be reported on Longo's balance sheet immediately following the sale? Round your answers to the nearest dollar. Calculate the interest expense on the notes for the first year. Round answers to the nearest dollar. Calculate the book value of the notes at the end of the first year. Round answer to the nearest dollar.