Question $15$

On January $1,2010,$ Ellison Co$.$ issued eight$-$year bonds with a face value of $$1,000,000$ and a

stated interest rate of $6\%,$ payable semiannually on June $30$ and December $31.$ The bonds

were sold to yield $8\%.$ Table values are:

esent value of $1$ for $8$ periods at $6\%$

Present value of $1$ for $8$ periods at $8\%$

Present value of $1$ for $16$ periods at $3\%$

Present value of $1$ for $16$ periods at $4\%$

Present value of annuity for $8$ periods at $6\%$

Present value of annuity for $8$ periods at $8\%$

Present value of annuity for $16$ periods at $3\%$

Present value of annuity for $16$ periods at $4\%$

The present value of the interest is

$$344,820.$

$$349,560.$

$$372,600.$

$$376,830.$

Question $16$

A trial balance may prove that debits and credits are equal, but

an amount could be entered in the wrong account.

a transaction could have been entered twice.

a transaction could have been omitted.

all of these.