Reference no: EM132936465
Problem 1: The following accounts, in alphabetical order, appear on the trial balance for a company. What is the total for current liabilities?
Accounts Payable$32,000
Deferred Income Taxes$61,000
Interest Payable$17,000
Current Portion of Long-term Notes$19,000
Mortgage$92,000
Notes Payable-Short term$11,000
Notes Payable-Long term$41,000
Salaries Payable$7,000
Taxes Payable$23,000
Unearned revenue$15,000
Option 1: $217,000
Option 2: $124,000
Option 3: $194,000
Option 4: $109,000
Option 5: $213,000
Problem 2: Which of the following is an advantage of issuing bonds versus issuing stock?
Option 1: The dividend expense associated with issuing stock is tax deductible
Option 2: The interest expense associated with issuing bonds is tax deductible
Option 3: There are no required, regular payments associated with issuing bonds
Option 4: The voting rights associated with issuing bonds dilutes the ownership percentage of existing owners
|
How much interest will purifier pay on march
: On September 1, Purifier Company borrowed $12,000 on a 6-month, 4%, short-term note payable. How much interest will Purifier pay on March 1?
|
|
Define a format for the type of report
: Wage Cost Report - Define a format for the type of report that is suitable for use in the hospitality context (Content)
|
|
What is the principal balance at the end of the second month
: The note entailed equal monthly payments of $2,500. The interest rate is 1% per month. What is the principal balance at the end of the second month?
|
|
How many shares are outstanding after the share dividends
: The corporation which has an authorization for 1,000,000 shares had issued 500,000 shares, How many shares are outstanding after the share dividends
|
|
Which is an advantage of issuing bonds versus issuing stock
: Which is an advantage of issuing bonds versus issuing stock? The accounts, in alphabetical order, appear on the trial balance for a company. What is the total?
|
|
How much will Jun receive
: Noncash assets valued at P2,000,000 were sold for P1,325,000. Liabilities of P200,000 were paid. How much will Jun receive
|
|
How much warranty work was performed
: 1% of sales is the estimated warranty cost. The ending balance of the warranty liability was $35,000 (credit). How much warranty work was performed?
|
|
Prepare the necessary journal entries as at December
: They each have P200,000 capital balances, and they share profits and losses in a 3:1 ratio, Prepare the necessary journal entries as at December 31, 2016
|
|
Which deposits held as compensating balances
: If a firm has two bank accounts in the same bank and the other has a positive cash balance while the other is overdraft, the overdraft is?
|