QUESTION 33 A ten year, 10%, $1,000,000, zero coupon bond is issued on January 1. The interest expense for the first year would be approximately: A $ 100,000 B. $ 38,554 C. $ 385,554 D. $ 46,679. E none of the listed choices QUESTION 34 Gast Company had wages payable at the beginning of the year of $20,000. During the year the company paid cash for wages of $80,000 and at the end of the year the company owed wages of $10,000. The income statement for the year will show wage expense of A. $ 90,000 B. $ 80,000 C. 5 86,000 D. $ 70,000 E. $ 88,000 QUESTION 35 On January 1, 2019, Declan Diaper Co. declared a $2.00 per share dividend payable on February 1, to holders of record on January 15. Before the dividend was declared, the company had 200,000 shares of $10 par value stock outstanding. On the date of payment, the journal entry would include a A. There would be no journal entry on this date. B. a credit to Retained Earnings of $ 400,000. C. a credit to Cash of $ 400,000 D. a debit to Retained Earnings of S 400,000 E a credit to Dividends Payable of $400,000