On July 1, Shady Creek Resort borrowed $410,000 cash by signing a 10-year, 10% installment note requiring equal payments each June 30 of $66.726. What is the journal entry to record the first annual payment? Multiple Choice C) Debit Cash $410,000, debit interest Expense $66,726: credit Notes Payable $476,726. Debit interest Expense $66,726, credit Cash 566,726 Debit interest Expense $41.000, credit Cash $41,000 Debit interest Expense $41,000; debit interest Payable $25.726, credit Cash $66,726 Debit Interest Expense $41,000, debit Notes Payable $25,726; credit Cash $66,726. Chang Industries has bonds outstanding with a par value of $208,000 and a carrying value of $215,000. If the company calls these bonds at a price of $211,000, the gain or loss on retirement is: Multiple Choice 54,000 loss. $3,000 Ioss, $3,000 gain. S4000 gain. 57000gain. A company issues 7% bonds with a par value of $140,000 at par on January 1. The market rate on the date of issuance was 6%. The bonds pay interest semiannually on January 1 and July 1. The cash paid on July 1 to the bond holders) is: Multiple Choice 54,900. A corporation issued 320 shares of its $5 par value common stock in payment of a $4,000 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include: Multiple Choice A $4.000 credit to Common Stock A $1600 debit to Organization Expenses. A $2,400 credit to Paid-in Capital in Excess of Par Value, Common Stock C A $4,000 debit to Legal Expenses A $4,000 credit to Cash A company's board of directors votes to declare a cash dividend of $1.25 per share of common stock. The company has 25,000 shares authorized, 20,000 issued, and 19,500 shares outstanding. The total amount of the cash dividend is: Multiple Choice $30,250. S49,375. $25,000. Mayan Company had net income of $30,780. The weighted average common shares outstanding were 8,100. The company declared a $2,800 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions. The company's earnings per share is: Multiple Choice A company issued 90 shares of $100 par value common stock for $10,600 cash. The total amount of paid-in capital in excess of par is: Multiple Choice $100. $1,600. $9,000. In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available: Net income for the year was $63,000 Accounts payable increased by 19, 100 Accounts receivable decreased by 26,100 Inventories increased by 7,200 Depreciation expense was 33,300 Net cash provided by operating activities was: Multiple Choice $134,300 $67700 o $8200 A machine with a cost of $134,000 and accumulated depreciation of $89,000 is sold for $52,000 cash. The amount that should be reported as a source of cash under cash flows from investing activities is: Multiple Choice 552.000. Zero. This is an operating activity 45,000 Zero. This is a financing activity, o $94,600, o $14,250. o $38,000. o $13,250. o $29,800