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please answer parts a and b Which of the following statements are true? 1. Over the life of a bond issued at a discount, total
please answer parts a and b
Which of the following statements are true? 1. Over the life of a bond issued at a discount, total cash interest paid and total market interest recorded are the same amount II. The issuing firm determines the cash proceeds received at issuance of the bond III. The carrying value of the bond depends on the unamortized premium or discount O ll only O lll only O I only O I, II and III O I and III only Alessee enters into a finance lease. The lease features annual payments and will last for 8 years. Which of the following statements are true? 1. The entire right of use asset is recorded as a non-current asset on the balance sheet II. The entire lease liability is recorded as a non-current liability on the balance sheet III. Interest expense and amortization are recorded in the income statement O Ill only o I only O I and II only O ll only O I, II, and Step by Step Solution
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