22) On December 1, 2010, Woodburn Corporation borrowed $150,000 at 10%. The interest and principal are due in 3 months on March 1, 2011. Complete the table below for the note. Fill in the correct dollar amount
AND
put an X in the appropriate box to indicate the financial statement where the amount will be found.
|
Amount
At or for the
year ended
December 31, 2010
|
IS
|
BS
|
SOCF
|
Interest payable
|
|
|
|
|
Interest expense
|
|
|
|
|
Cash from issuing notes
|
|
|
|
|
23) On June 1, 2011, Par for the Course, Inc. purchased building and land for $1,000,000 by signing a an $800,000, 10-year, 12% mortgage and paying the remainder in cash. Payments are to be made at the beginning of each month. Fill in the correct dollar amount
AND
in the appropriate box to indicate the financial statement where the amount will be found.
|
For the month ended and at June 30, 2011:
|
Income Statement
|
Statement of Cash Flows
|
Balance Sheet
|
1.
|
Interest expense
|
|
|
|
2.
|
Interest paid
|
|
|
|
3.
|
Interest payable
|
|
|
|
24) On June 1, 2011, Par for the Course, Inc. purchased building and land for $1,000,000 by issuing $1,000,000 of 10-year, 6% bonds. Interest is to be paid annually on May 31. Fill in the correct
dollar amount
in the
appropriate box
to indicate the financial statement where the amount will be found.
|
For the year ended and at December 31, 2011:
|
Income Statement
|
Statement of Cash Flows
|
Balance Sheet
|
1.
|
Interest expense
|
|
|
|
2.
|
Interest paid
|
|
|
|
3.
|
Interest payable
|
|
|
|
4.
|
Proceeds from borrowings
|
|
|
|