1.Before the last step in preparing the worksheet is complete the income statement and statement of financial position columns of Pine Company's worksheet reflects the following sub-totals:

Income Statement		Statement of financial position
Dr	Cr.	Dr.	Cr.
$58000	$45000	$34000	$47000

To enter the profit (or loss) for the period into the above worksheet requires an entry to the

Select one:

a.

statement of financial position debit column and the statement of financial position credit column.

b.

income statement debit column and the statement of financial position credit column.

c.

income statement debit column and the income statement credit column.

d.

income statement credit column and the statement of financial position debit column.

2.Alex Limited issued its 7%, 20-year debentures payable at a price of 846720 (maturity value is $700 000) . The firm uses the straight-line amortisation method for the debenture.

Interest expense for the fifth year is:Answer