Question
Exhibit 14-8-Piazzi, Inc. sold $400,000 of its 9%, five-year bonds dated January 1, 2013, on May 1, 2013, for $393,000 plus accrued interest. Interest is
Exhibit 14-8-Piazzi, Inc. sold $400,000 of its 9%, five-year bonds dated January 1, 2013, on May 1, 2013, for $393,000 plus accrued interest. Interest is paid on January 1 and July 1 and straight-line amortization is used.
1. Refer to Exhibit 14-8. Interest expense after the July 1, 2013, interest payment has been posted is
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| a. | $12,500. |
|
| b. | $6,250. |
|
| c. | $12,000. |
|
| d. | $18,000.
|
2. Refer to Exhibit 14-8. The balance of Discount on Bonds Payable after the December 31, 2013, adjusting entry has been posted would be
|
| a. | $5,600. |
|
| b. | $6,000. |
|
| c. | $7,000. |
|
| d. | $8,400.
|
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Clinical Audit In Physiotherapy From Theory Into Practice
Authors: Sue Barnard MSc MCSP, Gayle Hartigan
1st Edition
075063779X, 978-0750637794
