On January 31, 1999, Beau Corp. issued $300,000 maturity value, 12% bonds for $300,000 cash. The bonds are dated December 31, 1998, and mature on December 31, 2008. Interest will be paid semiannually on June 30 and December 31. What amount of accrued interest payable should Beau report in its September 30, 1999, balance sheet? a. $27,000. b. $24,000. c. $18,000. d. $9,000. On July 1, 1999, Cove Corp., a closely-held corporation, issued 6% bonds with a maturity value of $60,000, together with 1,000 shares of its $5 par value common stock, for a combined cash amount of $110,000. The market value of Cove's stock cannot be ascertained. If the bonds were issued separately, they would have sold for $40,000 on an 8% yield to maturity basis. What amount should Cove report for additional paid-in capital on the issuance of the stock? a. $75,000 b. $65,000 c. $55,000 d. $45,000 Hudson Hotel collects 15% in city sales taxes on room rentals, in addition to a $2 per room, per night, occupancy tax. Sales taxes for each month are due at the end of the following month, and occupancy taxes are due 15 days after the end of each calendar quarter. On January 3, 2001, Hudson paid its November 2000 sales taxes and its fourth quarter 2000 occupancy taxes. Additional information pertaining to Hudson's operations is: Room Room 2000 rentals nights October $100,000 1,100 November 110,000 1,200 December 150,000 1,800 What amounts should Hudson report as sales taxes payable and occupancy taxes payable in its December 31, 2000, balance sheet? a. b. Sales taxes $39,000 $39,000 $54,000 $54,000 Occupancy taxes $6,000 $8,200 $6,000 $8,200 C. d