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Please help me Bonds are liabilities and are recorded in an account called O A. current, loans payable O B. current; bonds payable O c.
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Bonds are liabilities and are recorded in an account called O A. current, loans payable O B. current; bonds payable O c. long-term; loans payable O D. long-term, bonds payable Determine whether the following bonds will be issued at face value, a premium, or a discount a. The market interest rate is 9% Star Inc issues bonds with a stated rate of 8 172% b. Charger Corporation issued 7 1/2% bonds when the market rate was 7 1/2% DOME c. Explorer Corporation issued 8% bonds when the market interest rate was 6718% d. Tundra Company issued bonds that pay cash interest at the stated interest rate of 7%. Ai the date of issuance, the market interest rate was 8 1/4% All of the following are increases in cash except. O A. Collections from customers O B. Issuance of shares O C. Issuance of bonds OD. Payment of dividends A corporation can be set up as O A. a private corporation O B. a public corporation O C. either a public corporation or a private corporation OD. neither a public nor private corporation The entry to record the issuance of bonds at a discount includes a O A. debit to Discount on Bonds Payable O B. credit to Cash for the amount received O C. credit to Discount on Bonds Payable O D. debit to Bonds Payable for the par value of the bonds All of the following are basic rights of a common shareholder except O A. the right to receive a proportionate share of the corporate assets remaining after the corporation pays its liabilities in liquidation OB. the right to vote O C. the right to receive a proportionate share of any dividend OD. the right to receive a proportionate share of the corporate assets prior to the payment of liabilities in liquidation The measures a company's success in using its assets to earn income for the stakeholders who are financing the business. O A. return on assets O B. debt-to-equity ratio O C. return on equity OD. current ratio When a company sells a piece of equipment used in the business, the gain or loss on the disposal is shown as O A. part of discontinued operations O B. an adjustment to the beginning balance of retained earnings O C. other gains and losses OD. an extraordinary item Which of the following statements accurately describes the cash flow statement? O A. It shows the relative proportion of debt and assets. O B. It shows the link between book income and earnings per share. O C. It shows the link between accrual based income and the cash reported on the balance sheet. OD. It indicates when long-term debt will mature Components of income from continuing operations are O A. grouped with the prior-period adjustments O B. shown before the tax effect O C. shown both before and after the tax effect O D. shown after the tax effect On January 1, 2020, Thames Company purchases property and signs a 6 year mortgage note for 560,000 at 1% The blended monthly payment is 5900, where $2,226 of the payments made in 2020 went towards interest What is the full amount of the mortgage doit that should be reported on the balance sheet on December 31, 20207 O A 550 466 OB. $60,000 OC. $38,880 OD 557,774 Which of the following is true about shareholders' investment risk? O A. The risk is limited to the cost of their investment O B. Shareholders can lose everything, as they are personally liable. O C. Shareholders can lose only the par value of their shares. O D. Shareholders can lose only the market value of their shares. Retained earnings O A. is classified as an asset on the corporate balance sheet O B. is part of contributed capital O C. represents investments by the shareholders of the corporation OD. represents capital earned by profitable operations The payment of a cash dividend to shareholders appears on which financial statement? O A. income statement B. balance sheet C. statement of retained eamings D. either the balance sheet or the income statementStep by Step Solution
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