15. Early in the current year, Tang Co. purchased the Saverado Mi at a cost et 14,000,000. The mine was estimated to contain S00,000 tons of ore ad to have a residual value of $4,000,000 afher mining operalions are comploted During the year, 250,000 tons of ore were removnd from the minn At yea-end the book value of the mine (cost minus accumulated depletion) is A) $14,000,00o. a) $9.0o0,000 C)$9,500,000 D) Less than $9,000,000 16. Interest payable on a loan becomes a liability A) When the note payable is issued B) As it accrues. C) At the maturity date. D) When the borrowed money is receivod 17. An employer's total payroll-rolated costs abways exceed the wages and salaries eaned by employees by A) Amounts withheld from employees' pay B) Payroll taxes and mandated programs such as workers' compensation insurance. C) 50%. D) None of the above. Employers' payroll-related costs actually are less than the gross wages and salaries earned by employees, because of amounts withheld from employees' checks. 18. Bonds, with the same face value, issued at a premium will: A) Have a greater maturity value than a bond issued at a discount. B) Have a lesser maturity value than a bond issued at a discount C) Have the same maturity value as a bond issued at a discount. D) Have a different maturity value than a bond issued at a discount, depending upon the interest rate and maturity date. 19. If a bond is issued at par and between interest dates: sh received by the corporation will be less than the face value of A) The ca the bond of the bond value of the bond. ceived by the corporation vwill be greater than the face value B) The cash received by the corporation will be greater th as the face ived by the corporation will be the same C) The cash rece D) Interest receivable will be debited. 15. Early in the current year, Tang Co. purchased the Saverado Mi at a cost et 14,000,000. The mine was estimated to contain S00,000 tons of ore ad to have a residual value of $4,000,000 afher mining operalions are comploted During the year, 250,000 tons of ore were removnd from the minn At yea-end the book value of the mine (cost minus accumulated depletion) is A) $14,000,00o. a) $9.0o0,000 C)$9,500,000 D) Less than $9,000,000 16. Interest payable on a loan becomes a liability A) When the note payable is issued B) As it accrues. C) At the maturity date. D) When the borrowed money is receivod 17. An employer's total payroll-rolated costs abways exceed the wages and salaries eaned by employees by A) Amounts withheld from employees' pay B) Payroll taxes and mandated programs such as workers' compensation insurance. C) 50%. D) None of the above. Employers' payroll-related costs actually are less than the gross wages and salaries earned by employees, because of amounts withheld from employees' checks. 18. Bonds, with the same face value, issued at a premium will: A) Have a greater maturity value than a bond issued at a discount. B) Have a lesser maturity value than a bond issued at a discount C) Have the same maturity value as a bond issued at a discount. D) Have a different maturity value than a bond issued at a discount, depending upon the interest rate and maturity date. 19. If a bond is issued at par and between interest dates: sh received by the corporation will be less than the face value of A) The ca the bond of the bond value of the bond. ceived by the corporation vwill be greater than the face value B) The cash received by the corporation will be greater th as the face ived by the corporation will be the same C) The cash rece D) Interest receivable will be debited
