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Apple bonds) You are a lender at a bank and you have a gust of money that you can lend during any month There are
Apple bonds) You are a lender at a bank and you have a gust of money that you can lend during any month There are two prospective borrowers that each want to borrow $500,000. You are looking these company's cash flow statements to determine which company you are going to lend to. Based upon the following cash flow statements, which company will you lend to Net cash provided by used in) operating activities Net cash provided by used in investing activities Net cash provided by used in financing activities Munson Corp $150.000 (25000) e ter Corp 157100,000) 250000 Net increase in cash Cash balance, beginning of year Cash balance, end of year 100.000 100,000 10000 $130.000 S130,000 Please read the answers carefully. They may not be in the same order as shown above A) Jeter Corp B) Munson Corp 12) On January 1, 2019, Josephs Company wanted to raise money. Therefore, Josephs Company issued TO-year, 8% bonds with a face value of $300.000. Interest is paid annually. The bonds were issued at a price of 97. The journal entry to record the issuance of the bonds will include a A) credit to Bonds Payable of $291,000 B) debit to Cash of $300,000 C) credit to Cash of $291.000. D) debit to Discount on Bonds Payable of $9,000. E) credit to Premium on Bonds Payable of $9,000. 13) Harvard Company sold (issued) $500,000. five year 10% bonds on January 1, 2019 for $510,000. (The issue price was 102) Interest is paid annually on January 1, Harvard uses the straight-line amortization method. How much interest expense related to these bonds will Harvard record in its financial statements for the year ended December 31, 20192 A) $50,000 B) $48.000 C) $52,000 D) $49,000 E) $51,000 WASSERMAN VERSION B Apple bonds) You are a lender at a bank and you have a gust of money that you can lend during any month There are two prospective borrowers that each want to borrow $500,000. You are looking these company's cash flow statements to determine which company you are going to lend to. Based upon the following cash flow statements, which company will you lend to Net cash provided by used in) operating activities Net cash provided by used in investing activities Net cash provided by used in financing activities Munson Corp $150.000 (25000) e ter Corp 157100,000) 250000 Net increase in cash Cash balance, beginning of year Cash balance, end of year 100.000 100,000 10000 $130.000 S130,000 Please read the answers carefully. They may not be in the same order as shown above A) Jeter Corp B) Munson Corp 12) On January 1, 2019, Josephs Company wanted to raise money. Therefore, Josephs Company issued TO-year, 8% bonds with a face value of $300.000. Interest is paid annually. The bonds were issued at a price of 97. The journal entry to record the issuance of the bonds will include a A) credit to Bonds Payable of $291,000 B) debit to Cash of $300,000 C) credit to Cash of $291.000. D) debit to Discount on Bonds Payable of $9,000. E) credit to Premium on Bonds Payable of $9,000. 13) Harvard Company sold (issued) $500,000. five year 10% bonds on January 1, 2019 for $510,000. (The issue price was 102) Interest is paid annually on January 1, Harvard uses the straight-line amortization method. How much interest expense related to these bonds will Harvard record in its financial statements for the year ended December 31, 20192 A) $50,000 B) $48.000 C) $52,000 D) $49,000 E) $51,000 WASSERMAN VERSION B
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