16.

If $916,000 of 11% bonds are issued at 102 1/2, The amount of cash received from the sale is

a.$938,900

b.$916,000

c.$687,000

d.$1,016,760

17.

Depreciation on an office building is $12,600. The adjusting entry on December 31 would be: (If an amount box does not require an entry, leave it blank.)

Dec. 31

18.

Nexis Corp. issues 2,660 shares of $8 par value common stock at $17 per share. When the transaction is recorded, what credit entry or entries are made?

a.Common Stock $21,280 and Paid-in Capital in Excess of Stated Value $23,940.

b.Common Stock $45,220.

c.Common Stock $21,280 and Paid-in Capital in Excess of Par Value $23,940.

d.Common Stock $23,940 and Retained Earnings $21,280.

19.

Eddie Industries issues $886,000 of 8% bonds at 103. The amount of cash received from the sale is

a.$956,880

b.$886,000

c.$859,420

d.$912,580