Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

help?? A bond sells at a premium when the O contract rate is equal to the market rate. o contract rate is below the market

help??
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
A bond sells at a premium when the O contract rate is equal to the market rate. o contract rate is below the market rate. O None of the answers are correct. O contract rate is above the market rate. us The withdrawals account of a partner is O a permanent account and not closed. O closed to a partner's capital account with a debit to withdrawals. O debited when a partner makes a withdraw. O is credited with a partner's share of net loss Installment notes payable that require periodic payments of equal amounts over the life of the note result in payment amounts in which: the return of principal portion remains constant over time. O the return of principal portion may either increase or decrease over time depending upon the loan agreement. the return of principal portion gradually decreases over time. the return of principal portion gradually increases over time When a bond sells at a discount O None of the answers are correct. O The contract rate is equal to the market rate. O The contract rate is above the market rate O The contract rate is below the market rate. Unusual and/or infrequent gains and losses O at lease two of the choice are correct. O are reported on a corporate balance sheet. O are included in income from continuing operations. O could arise from the reissuance of treasury stock. FILA issued $100,000 worth of 5 year, 7% bonds. The current market rate was 7.5 %. Fila received $97,947 for the bonds. Using the straight line method the amount of discount amoritized for the first semi-annual payment was O $205.30 O $3,428.15 $3.705.30 O $173.01 0 $0.00

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Financial Reporting

Authors: Alan Melville

7th Edition

1292293128, 9781292293127

More Books

Students also viewed these Accounting questions

Question

Outline the three steps in time management and in money management.

Answered: 1 week ago

Question

=+. Alliteration The Magic of Macy's tagline.

Answered: 1 week ago

Question

=+iv. Simple promise No ordinary airline (Virgin Atlantic Airway).

Answered: 1 week ago