Bond X and Bond Y are both issued by the same company Each of the bonds has a face value of $100,000 and each matures in 10 years Bond X pays 8 interest while Bond Y pays 9 interest The current market rate of interest is 8 Which of the following is correct Both bonds will sell for the same amount B) Bond X will sell for more than Bond Y C) Both bonds will sell at a discount D) Bond Y will sell for more than Bond X Accounts Payable $55,000 Land $90,000 Inventory $10,500 Accounts Receivable $7,500 Equipment $8,000 Deferred Revenue $58,500 Short term Investments $20,000 Notes Receivable (due in 8 months) $45,500 Interest Payable $2,000 Patents $75,000 62) What is the amount of intangible assets assuming the accounts above reflect normal activity A) $140,500 B) $120,500 C) $75,000 D) $95,000 At the beginning of the period, Accounts Receivable equals $1,700 At the end of the period, Accounts Receivable equals $2,200 If Service Revenue for the period equals $15,400, what was the cash received from customers for the period A) $13,200 B) $15,400 C) $14,900 D) $15,900 ABC sold $500 in widgets to a customer on account on January 1 On January 11 ABC collected the cash from that customer What is the impact on ABC's accounting equation from the collection of cash Decrease assets and increase liabilities B) Decrease assets and decrease liabilities C) No net effect to the accounting equation D) Increase assets and increase liabilities Journal entries to record cash dividends are made on the Declaration date, record date, and payment date Record date and payment date Declaration date and payment date Declaration date and record date

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Bond X and Bond Y are both issued by the same company. Each of the bonds has a face value of $100,000 and each matures

Bond X and Bond Y are both issued by the same company. Each of the bonds has a face value of

$100,000 and each matures in 10 years. Bond X pays 8% interest while Bond Y pays 9% interest. The current market rate of interest is 8%. Which of the following is correct?

Both bonds will sell for the same amount. B) Bond X will sell for more than Bond Y.

C) Both bonds will sell at a discount. D) Bond Y will sell for more than Bond X.

Accounts Payable	$55,000
Land	$90,000
Inventory	$10,500
Accounts Receivable	$7,500
Equipment	$8,000
Deferred Revenue	$58,500
Short-term Investments	$20,000
Notes Receivable (due in 8 months)	$45,500
Interest Payable	$2,000
Patents	$75,000

62) What is the amount of intangible assets assuming the accounts above reflect normal activity? A) $140,500. B) $120,500. C) $75,000. D) $95,000.

At the beginning of the period, Accounts Receivable equals $1,700. At the end of the period, Accounts Receivable equals $2,200. If Service Revenue for the period equals $15,400, what was the cash received from customers for the period?

A) $13,200. B) $15,400. C) $14,900. D) $15,900.

ABC sold $500 in widgets to a customer on account on January 1. On January 11 ABC collected the cash from that customer. What is the impact on ABC's accounting equation from the collection of cash?
1. Decrease assets and increase liabilities. B) Decrease assets and decrease liabilities.

C) No net effect to the accounting equation. D) Increase assets and increase liabilities.

Journal entries to record cash dividends are made on the:
1. Declaration date, record date, and payment date.
2. Record date and payment date.
3. Declaration date and payment date.
4. Declaration date and record date.