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only final answers no explaining LL se e TI - MULTIPLE CHOICE (300 ose the one alternative that best completes the statement or wer most
only final answers no explaining
LL se e TI - MULTIPLE CHOICE (300 ose the one alternative that best completes the statement or wer most cases, current liabilities are payable within _year(s), and long-term ear(s) from now. . one; more than two Bone; more than one C. two; more than two D. one; more than ten On December 1. 2018, Old World Deli signed a $300,000,5% twelve-month note payable with the amount borrowed plus accrued interest due twelve months later on November 30, 2019. Om World Deli records the appropriate adjusting entry for the note on December 31, 2018. What amount of cash will be needed to pay back the note payable plus any accrued interest on November 30, 2019? A. $300,000 B. $301,250. C. $313,750. D. $315,000 3. The entry to record a monthly payment on an installment note such as a car loan A. Debit Interest expense, debit Notes payable, and credit Cash B. Debit Cash, debit Interest expense, and credit Notes payable C. Debit Cash, credit Interest expense, and credit Notes payable D. Debit Notes payable, credit Interest expense, and credit Cash 4. The advantages of obtaining long-term funds by issuing bonds, rather than issuing additional common stock, include which of the following? A. Funds are obtained without surrendering ownership control. B. Interest expense is tax-deductible. C. The company's risk of bankruptcy decreases. D. Both A and B. 5. Which of the following is true for bonds issued at face value? A. The stated interest rate is greater than the market interest rate. B. The market interest rate is greater than the stated interest rate. C. The stated interest rate and the market interest rate are equal. D. The stated interest rate and the market interest rate are unrelated. Rex. 1217 6. Bear Essentials borrowed $50,000 from Stacks Bank and signed a promissory note. What entry should Bear Essentials record? A. Debit Cash, $50,000; Credit Notes Receivable, $50,000 B. Debit Notes Receivable, $50,000; Credit Cash, $50,000. C. Debit Cash, $50,000; Credit Notes Payable, $50,000. (D. Debit Notes Payable, $50,000; Credit Cash, $50,000 Step by Step Solution
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