On January 1, a company issued and sold a $440,000, 6%, 10-year bond payable, and received proceeds of $434,000. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The carrying value of the bonds immediately after the second interest payment is: Multiple Choice o $440,000. 0 $433,700. $434,600. $434,300. Caitlin, Chris, and Molly are partners and share income and losses in a 3:4:3 ratio. The partnership's capital balances are Caitlin, $125,000; Chris, $85,000; and Molly, $105,000. Paul is admitted to the partnership on July 1 with a 20% equity and invests $65,000. The balance in Caitlin's capital account immediately after Paul's admission is: Multiple Choice $121,700 $76,000 $125,000 $65,000 The partnership agreement for Wilson, Pickett & Nelson, a general partnership, provided that profits be shared between the partners in the ratio of their financial contributions to the partnership. Wilson contributed $115,000, Pickett contributed $69,000 and Nelson contributed $23,000. In the partnership's first year of operation, it incurred a loss of $225,000. What amount of the partnership's loss, rounded to the nearest dollar, should be absorbed by Nelson? Multiple Choice 0 o so 0 $25,000 0 $56,250 0 $75,000 Carter Pearson is a partner in Event Promoters. His beginning partnership capital balance for the current year is $55,100, and his ending partnership capital balance for the current year is $62,100. His share of this year's partnership income was $5,350. What is his partner return on equity? Multiple Choice 11.61% 862% 9.13% 10.30% A company had a tractor destroyed by fire. The tractor originally cost $142,000 with accumulated depreciation of $75,300. The proceeds from the insurance company were $37,000. The company should recognize: Multiple Choice A loss of $66,700. Again of $66,700. A loss of $29,700. (0) Again of $37,000. Granite Company purchased a machine costing $123,000, terms 1/10, n/30. The machine was shipped FOB shipping point and freight charges were $2,300. The machine requires special mounting and wiring connections costing $10,300. When installing the machine, $1,800 in damages occurred. Compute the cost recorded for this machine assuming Granite paid within the discount period. Multiple Choice $137,770. $134,370. $139,000. $133,870