If a bond payable is sold (issued) at a premium, the amount of the carrying value (the long-term liability) reported on the subsequent statements of financial position does which of the following?

A company receives $99, of which $9 is for PST (provincial sales tax). The journal entry to record the sale would include a Select one: a. Debit to Cash for $90. b. Debit to Sales for $99. c. Debit to PST Expense for $9. d. Credit to PST Payable for $9.

Bonds issued at a premium reduce: Select one: a. The perceived risk to the bondholder. b. The interest payments to be made to the bondholder. c. The bond value to be shown on the balance sheet. d. The cost of borrowing.

Johnson Company acquires land and building for $4,000,000 including all fees related to acquisition. The land is appraised at $2,700,000 and the building at $2,100,000. The building is then renovated at a cost of $750,000. What amount is capitalized to the building account? Tangible assets include which of the following? Select one: a. Land, buildings, and leaseholds. b. Licences, trademarks, and land. c. Natural resources, buildings, and franchises. d. Land, buildings, and equipment.

An employee receives a bi-weekly gross salary of $2,000. Income tax is $218, CPP is $99, EI is $36, and union dues are $50. What is the amount of the employee's take home pay (net pay) on a bi-weekly basis? Select one: a. $1,782 b. $2,000 c. $1,732 d. $1,597

A Co, a biotechnology company, reported cost of goods sold of $345.2 million and trade payables of $121.6 million for 2013. In 2012, cost of goods sold was $300.8 million and trade payable was $103.9 million. What was A Co's trade payables turnover ratio in 2013? What is an extraordinary repair to a building? Select one: a. It is a capital expenditure and it is debited to an expense account. b. It is a capital expenditure and it is debited to an asset account. c. It is a revenue expenditure and it is debited to an expense account. d. It is a revenue expenditure and may be debited to accumulated depreciation.

On January 1, 2013, Osler Limited, a calendar-year company, issued $160,000 of notes payable, of which $40,000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2013, is Select one: a. Current Liabilities, $160,000. b. Current Liabilities, $40,000; Long-term Debt, $120,000. c. Current Liabilities, $120,000; Long-term Debt, $40,000. d. Long-term Debt, $160,000.