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1. If market interest rates are higher than the rate offered on the bonds being sold, they will be sold at: A. a premium. B. a discount. C. face value. D. a loss. 2. When bonds are issued at a premium, the bond premium: A. reduces the amount of interest expense over the life of the bonds. B. increases the amount of interest expense over the life of the bonds. C. does not change the amount of interest expense over the life of the bonds. D. is charged to interest expense when the bond is issued. 3. If bonds are issued for a price below their face value, the bond discount should be: A. charged to expense on the date the bonds are issued. B. amortized over the life of the bond issue. C. shown as an addition to Bonds Payable in the Long-Term Liabilities section of the balance sheet. D. shown as a current liability on the balance sheet.
Do you enjoy college life? Do you enjoy teaching others? If therefore you might want to consider a career as a college professor. Even though a position as a college professor may
Calculate, CPA, is compiling a cash flow statement for his client, Happy Hal Printing. Over the course of the year Happy Hal acquired new equipment by putting down half of the purc
DEFINE THE FICA TAX PAYABLE AND SUTA TAX PAYABLE FICA TAX PAYABLE-OASDI. Same account is used to record both employees' and the employer's share. Credited to record taxes i
Q. Show the Chart of accounts? Chart of accounts -- a listing of all accounts or categories into that businesstransactions would be classified and recorded. Every account gener
Q. Show the examples of long-term assets? Property, plant, and equipment are assets with helpful lives of more than one year a company acquires them for use in the business r
Explain Discounts allowed.
1. For each of the following accounting assumptions/principles, explain a business transaction: (a) Accounting Entity Assumption (b) Going Concern Assumption (c) Matching Prin
on which shares pre acquisiton dividend received
Assume we had given tour advance to party how to treat entry and which head have to given expenditure? Ans) Cash/Bank a/c DR To Party(name)a/c (Advance Paid For Tour)
FICA Tax (Social Security) Both the employee and the employer contribute equally. OASDI has a Taxable Wage Base that is the maximum amount of earnings during a calendar y
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