Answer:
(a) Discount on bonds payable ⇒ SHOULD BE REPORTED IN THE BALANCE SHEET UNDER LIABILITIES
(b) Interest expense (credit balance) ⇒ WHEN INTEREST EXPENSE IS INCLUDED IN THE INCOME STATEMENT IT HAS A DEBIT BALANCE, WHEN IT HAS A CREDIT BALANCE IT MEANS IT IS A LIABILITY AND MUST BE REPORTED IN THE BALANCE SHEET
(c) Unamortized bond issue costs ⇒ SHOULD BE REPORTED IN THE BALANCE SHEET, IT IS A CONTRA LIABILITY ACCOUNT
(d) Gain on repurchase of debt ⇒ SHOULD BE REPORTED IN THE INCOME STATEMENT AS PART OF OTHER GAINS AND LOSSES
(e) Mortgage payable (payable in equal amounts over next 3 years) ⇒ SHOULD BE REPORTED IN THE BALANCE SHEET UNDER LIABILITIES (UNDER CURRENT AND LONG TERM LIABILITIES)
(f) Debenture bonds payable (maturing in 5 years) ⇒ SHOULD BE REPORTED IN THE BALANCE SHEET UNDER LONG TERM LIABILITIES
(g) Notes payable (due in 4 years) ⇒ SHOULD BE REPORTED IN THE BALANCE SHEET UNDER LONG TERM LIABILITIES
(h) Premium on bonds payable ⇒ SHOULD BE REPORTED IN THE BALANCE SHEET UNDER LIABILITIES (REDUCES BONDS PAYABLE)
(i) Bonds payable (due in 3 years) ⇒ SHOULD BE REPORTED IN THE BALANCE SHEET UNDER LONG TERM LIABILITIES
<span>It's important that you develop effective strategies for managing your time to ... Other skills involved include prioritising - focusing on urgent and important tasks ... could simply be to use your diary to write down the things you need to do, including .... your time more efficiently, and know some techniques to allow you to do this.</span><span>
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Its capacity to perform the functions you or a person want it to
A general partnership is a partnership when all partners share in the profits, managerial responsibilities, and liability for debts equally.
<h3>What is
general partnership?</h3>
A general partnership, the most basic type of partnership under common law, is an organization of people or an unincorporated company that has the following major characteristics: Agreement, proof of existence, and estoppel must all be used to create it.
Two conditions must be met in order to form a general partnership: The company must have at least two owners. All partners must agree to accept unlimited personal responsibility for any debts or legal liabilities incurred by the partnership.
Unless otherwise stated in the agreement, all partners in a general partnership have equal standing and the authority to participate in the management of the business. When a decision must be made, each partner is usually given one equal vote.
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