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Voi Inc. issued $400,000, 10-year, 10 percent bonds at 104. What is the total amount of interest expense that will be recorded over the life of these bonds? $416,000 None of the available answers are correct O $400,000 O $384,000 O $360,000 Mambo Inc. has just completed a physical inventory count at year end, December 31, 2020. The inventory was counted and costed using FIFO. The counted inventory amounted to $300,000. During the audit, the independent Certified Professional Accountant (CPA) discovered the following items: 1. Mambo Inc., on the date of the inventory count, received notice from a supplier that goods ordered earlier by Mambo Inc., at a cost of $4,000, had been delivered to the transportation company on December 24, 2020; the terms were FOB destination point. Because the shipment had not arrived on December 31, 2020, it was excluded from the $300,000 inventory count. 2. Mambo Inc., as the consignee, had goods on consignment that cost $5,000 and had not yet been sold as of December 31, 2020. These goods were excluded from the $300,000 inventory count. Which of the following adjustments is necessary to the $300,000 inventory count amount? Subtract $1,000 Add $9,000 Subtract $9,000 No adjustment is required to the $300,000 amount as a result of these two findings Add $1,000 On November 1, 2013, Aladdin Inc. (the borrower) issued a 12%, 2-month, $50,000 interest-bearing note to Genie Inc. (the lender). The principal amount is due on January 1, 2014 and the interest is payable monthly on December 1, 2013, and January 1, 2014. The fiscal year end is December 31, 2013. The journal entry for Aladdin on January 1, 2014 will include: O A credit to cash for $50,500 A debit to interest payable for $3,000 A credit to Note Payable for $50,000 A debit to interest expense for $500 Kisumu Co. purchased land and building at a price of $480,000. Kisumu also incurred a real estate broker's fee of $5,000 and legal fees of $2,000 to complete the purchase. Kisumu paid $3,000 to obtain a real estate appraisal prior to the purchase. The appraisal indicated that, valued separately, the land was worth $260,000 and the building was worth $240,000. The land should be recorded in the accounting records for: None of the available answers are correct $249,600 $260,000 $253,240 $254,800