300 in principal of S-year zero-coupon bonds. Lev Inc. received proceeds of $214 and had zero issue costs i. Record the journal entries for the issuance of the bond. Fill-in: 2 points per line Credit Debit Date Item ssue date i. How much interest expense will Lev Inc. record over the life of the zero-coupon bond? Multiple choice; circle one; 3 points. $76. a. $86. b. C. $96. d. $106. e. $116. I1. Accounting for income taxes 1. If the tax code recognizes revenue slower or expenses faster than the financial reporting standards do: Multiple choice; circle one for each lettered row; I point each Circle one for each row lower lower lower asset. a) b) c) d) Taxable income will be Taxes payable will be The company will owe This situation gives rise to a deferred tax higher than book income. higher than tax expense. higher taxes payable in future liability 2 Which of the following items give rise to permanent differences between book income and taxable income, and which of the following items give rise to temporary differences between book income and taxable income? Multiple choice; circle one for each lettered row; I point each Circle one for each row nicipal bonds temporary temporary temporary temporary temporary b) Differences between depreciation for tax purposes and depreciation for permanent book purposes. Life insurance premiums paid Payments from customers before revenue can be recognized for book purposes The payment of fines to regulators c) d) e)