Ranger Corporation Reports the Following Amounts in Their 2018 Financial

question 208

Essay

Ranger Corporation reports the following amounts in their 2018 financial statements:
Instructions
(a) Compute the December 31, 2018, balance in stockholders' equity.
(b) Compute the debt to assets ratio at December 31, 2018.
(c) Compute times interest earned for 2018.
1. What is the stated interest rate for this bond issue?
2. What is the market interest rate for this bond issue?
3. What was the selling price of the bonds as a percentage of the face value?
4. Prepare the journal entry to record the sale of the bond issue on June 30, 2015.
5. Prepare the journal entry to record the payment of interest and amortization on December 31, 2015.

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