Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
25) If the assets of a business ir 5,000 during the same period, equity in the business must have: A) Decreased $210,000. $125,000 during a
25) If the assets of a business ir 5,000 during the same period, equity in the business must have: A) Decreased $210,000. $125,000 during a period of time and its liabilities increased B) Increased $125,000. C) Increased $210,000. D) Increased $40,000. E) Decreased $40,000. digger Services, Inc. provides services to clients. On May I, a client prepaid Golddigger Services $78,000 for 6-months services in advance. Golddigger Services' general journal e record this transaction will include a: A) Credit to Cash for $78,000. B) Credit to Management Fees Earned for $78,000. C) Debit to Management Fees Earned for $78,000. D) Debit to Unearned Management Fees for $78,000. E) Credit to Unearned Management Fees for $78,000 27) Morgan Company issues 10%, 20-year bonds with a par value of S690.000 that pay interest semiannually. The current market rate is 9%. The amount paid to the bondholders for each semiannual interest payment is: A) S345,000. B) $62,100. C)S34,500. D) $69,000. E) S31,050. 28) Adonis Corporation issued 10-year, 7% bonds with a par value of S 130,000. Interest is paid semiannually. The market rate on the issue date was 6%. Adonis received $139,674 in cash proceeds. Which of the following statements is true? A) Adonis must pay $130,000 at maturity plus 20 interest payments of S3900 each. B) Adonis must pay $130,000 at maturity and no interest payments. C) Adonis must pay $139,674 at maturity and no interest payments. D) Adonis must pay $139,674 at maturity plus 20 interest payments of $4550 each. E) Adonis must pay $130,000 at maturity plus 20 interest payments of $4550 each
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started