1a)Explain the following terms as they relate to bonds sold by a company:

at par

at discount

at premium

What is always true as it relates to the sale of bonds and the recording of the transaction (what goes in the bonds payable account)? Why?

2)Explain deferred taxes and why it can sometimes be a long term asset and sometimes a long term liability. 3) Explain the account(s) Additional Paid In Capital (Common and Preferred). What is the purpose of the account? What is the rule in recording these? 4)Discuss three accounts that represent equity investments in other companies. What do they mean, which section are they reported in and why?

Marketable securities

Investments in available-for-sale securities

Investments in affiliates