15. Early in the current year, Tang Co. purchased the Sverndo Mino at a cost of $14,000,000. The mine was estimated to contain 500,000 tons of ore and to have a residual value of $4,000,000 aftor During the year, 250,000 tons of ore wore removed from the mine At year ond the book value of the mine (eost minus aeoumulated depletion) is A) $14,000,000 B) $9,000,000 C) $9,500,000 D) Less than $9,000,00o 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 received 17. An employer's total payroll-related costs ahways exceed the wages and salaries earned by employees by A) Amounts withheld from employees pay B) Payroll taxes and mandated programs such as workers' compensation C) 50%. D) None of the above. Employers' payroll-related costs actually are less insurance. 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. 9. If a bond is issued at par and between interest dates: A) The cash received by the corporation will be less than the face value of B) The cash received by the corporation will be greater than the face value C) The cash received by the corporation will be the same as the face D) Interest receivable will be debited. the bond of the bond value of the bond