Question
1.Conroy Corp. issued $100,000, 5% six-year bonds at 101. The total interest expense over the life of the bond is: Select one: a.$25,000 b.$29,000 c.$21,000
1.Conroy Corp. issued $100,000, 5% six-year bonds at 101. The total interest expense over the life of the bond is:
Select one:
a.$25,000
b.$29,000
c.$21,000
d.$31,000
e.$4,000
2. Which accounts are contra accounts?
Select one:
a. Premium on Bonds Payable, but not Discount on Bonds Payable
b. Discount on Bonds Payable, but not Premium on Bonds Payable
c. Both Discount and Premium on Bonds Payable
d. Neither Discount nor Premium on Bonds Payable
3. If Visser Company issues 25,000 shares of $2 par value common stock for $100,000, the account Paid-In Capital in Excess of Par Value will be credited for
Select one:
a.$30,000
b.$50,000
c.$65,000
d.$20,000
4. Dividends in arrears are a possible result due to
Select one:
a. Preferred Stock
b. Common Stock
c. Both Preferred and Common Stock
d. Bonds Payable
Please help
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