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A corporation purchases 60.000 shares of its own $30 par common stock for $45 per share, recording it at cost. What will be the effect
A corporation purchases 60.000 shares of its own $30 par common stock for $45 per share, recording it at cost. What will be the effect on total stockholders' equity a. Increase by $2,700,000 b. Decrease by $1,800,000 c. Decrease by $2,700,000 d. Increase by $1,800,000 Pan Company received proceeds of $188,000 on 10-year, 6% bonds issued on January 1. 2019. The bonds had a face value of $200,000, pay interest annually on December and have a call price of 101. Pan uses the straight-line method of amortization What is the amount of interest expense Pan will show with relation to these bonds for the year ended December 31, 2020? 7) a $12,000 b. $11,200 c. $13,200 d. $10,800 Presented here is a partial amortization schedule for Graceland Company who sold $100,000, five year 10% bonds on January 1, 2019 for $108,000 and uses annual straight- line amortization. Interest Period Interest Paid BOND AMORTIZATION SCHEDULE Interest | Premium Unamortized Bond Carrying Expense Amortization Premium Value $8,000 $108,000 1, January 2019 January (1) (iv) (V) 2020 Which of the following amounts should be shown in cell (i)? a $10,800 b. $11,600 C. $10,000 d. $2,000
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