A Blackboard Remaining Time: 1 hour, 42 minutes, 38 seconds. Question Completion Status: $75,000 QUESTION 46 has bonds with balances as shown below On July 1, 2019, Michigan Com Bonds Payable 71.000 Premium on Bonds Payable If the company retires the bonds for $74,150, what will be the effect on the income statement? gain on retirement of 5650 loss on retirement of 56950 gain on retirement of 1950 loss on retirement of $650 QUESTION 47 Which of the following cours when a corporio distributes a stock dividend? Click Save and Submit to one and subti. Che Se Allerto sow all Save Al Answers Close MacBook RO 18 ESC 14 F 3 # 3 $ 4 % 5 & 7 9 8 6 1 2 Q W E I R U T Y D F S J H Blackboard A Remaining Time: 1 hour, 42 minutes, 27 seconds. Question Completion Status QUESTION 47 Which of the following occurs when a corporation distributes a stock dividend? Total liabilities would increase Total stockholders equity would increase Total sets would decrease Total stockholders' equity would be unchanged. QUESTION 48 The accountant for Barnes Auto Repair, Inc. taled to make an acting entry to record $6.000 of unpaid salaries for the last two weeks of the year. Which of the following is an effect of this omission? The equity will be understated The net income will be overstated The net income will be understated. No impact on abilities QUESTION 49 The information related to rest expense of Classic Music, Inc. is given below Click Swand Shirts and chicke All Antolon Save Al Anwwers Close Window MacBook 888 73 # 3 / 1 $ 4 % 5 & 7 9 8 0 6 2 - Y U Q 0 W R T E S D G F J H Blackboard Remaining Time: 1 hour, 42 minutes, 15 seconds. Question Completion Status: No impact on abilities QUESTION 49 The information related to interest expense of Classic Music, Inc. is given below Net income $264,000 Income tax expense 107.000 Interest expense 66,000 Based on the above data which of the following is the times-interest-camed ratio? (Round the final answer to two decimal places) 4.08 times 6.62 times 5 times 4 times QUESTION 50 Masterpiece Sales Corporation offers warranties on all the electronic goods Warranty expense is estimated at 3% of sales revenue. In 2010, the compan had 100.000 in sales. In the same year, Masterpiece Sales replaced detective goods with goods that had a cost of $16.500. Which of the following is the entry needed to record the replacement of the detective goods? Warranty Expense 18.000 Click Save and submit to save and submit. Click Save All Amers to solares Save Al Answers MacBook 57 888 16 73 * # 3 $ 4 % 5 & 7 2 6 8 W Q E R I Y T Backboard Remaining Time: 1 hour, 42 minutes, 06 seconds Question Completion Status: 4.08 times 6.62 times 5 times 4 times QUESTION 50 Masterpiece Sales Corporation offers warranties on all their electronic goods Warranty expense is estimated 3% of sales revenue. In 2019, the company had 60.000 in sales in the same year Masterpiece Sales replaced defective goods with goods that had a cost of $16.500. Which of the following is the entry needed to record the replacement of the defective goods Warranty Expense 18.00 Merchandise inventory 18.00 Estimated Warranty Payable 16.500 Merchandise Inventory 16 500 Warranty Expense 18.000 Estimated Warranty Payable 18.00 Warranty Expense 16.500 Estimated Warranty Payable Click Save and Subet to me and mubenit. Click Save All Answers to welcomes. Save Anwen Close Window MacBook BO 13 ** 16 13 10 FT # 3 ! $ 4 % 5 1 0 & 7 9 8 6 2 Y U O T Q W R E H . D F J S MA
