Can anyone help me with these questions? If possible, could you show your work after answering questions 4,5 and 7? Thank you in advance for any help you're able to provide.

1. Which of the following straitness are true?

i. A note payable can be classified as a current or long-term liability. ii. Taxes payable are never current liabilities.

A. i only B. ii only C. Not the i and ii D. Neither i nor ii

2. Cash flows associated with long-term liabilities are reported: A. In the operating activities section of the statement of cash flows. B. In the investing activities section of the statement of cash flows C. In the financing activities section of the statement of cash flows. D. On a balance sheet.

3. If bonds with a face value of $100,000 are sold for $96,000, how must this $4,000 difference be accounted for? A. It must be depreciated. B. It must be amortized over the life of the bond. C. It must be recorded as a loss on insurance. D. It must be ignored.

4. Freeman incorporated issues 5-year bonds with a face value of $300,000 for $288,000. Using the straight line method of amortization, how much of this discount will be amortized each payment if the interest is paid semiannually? A. $2,400 B. $1,200 C. $1,000 D. $600

5. If bonds with a face value of $200,000 are issued at 102, what amount is recorded in the Bonds Payable account? A. $204,000 B. $202,000 C. $196,000 D. $200,000

6. The carrying value of a bond issued at a discount is equal: A. The face value less the unamortized discount. B. The face value plus the unamortized discount. C. The face value. D. None of the above.

7. A bond with a face value of $80,000 and an unamortized discount of $2,000 is redeemed at a price of $81,000. What is the gain or loss on redemption? A. $1,000 loss B. $3,000 loss C. $1,000 gain D. $3,000 gain

8. An operating lease: A. Allows a company to finance an asset without reporting a liability on the balance sheet. B. Can be disclosed in the notes to the financial statements. C. Both A and B. D. Neither A nor B.

9. Which of the following is necessary for a contingent liability to exist? A. There must be an existing condition. B. The resolution of the condition must depend on some event in the future. C. The outcome of the condition must be unknown. D. All of the above.

10. Which of the following is a common contingent liability that is often reported on the balance sheet as a liability because of its probable nature? A. Warranties B. Bonds C. Taxes D. Salaries

11. A company issues bonds. The insurance price will be equal to: A. The present value of the interest payments B. The present value of the principle payment. C. The present values of both the interest payments and the principle payment. D. The sum of the interest payments and the principle payment.

12. Under the effective interest method of amortization, interest expense is calculated as: A. Face values times the stated interest rate. B. Carrying value times the market interest rate. C. Face value times the market interest rate. D. Carrying value times the stated interest rate.

13. Under the effective interest method of amortization, the amount of discount or premium amortized each interest payment is equal to: A. The difference between interest expense and interest paid. B. The original discount or premium divided by the number of interest payments. C. The carrying value times the market rate of interest. D. None of the above.