QUESTION 33 Phoenic Ltd decided to establish a fund starting on June 30, 2020 By June 30, 2026. Phoenix would like to have $300.000. The bank will pay 5 interest on any deposits made What is the required annual deposit? Use the TVM tables in your course packet or textbook $36.502 O $38 419 O $44105 O $50.000 QUESTION 34 A bond was issued at par on April 1. 2020 with annual interest payments starting the following year on April 1 What accounting entry, if any, would be made on December 31, 2020 assuming this is the fiscal year end? O Payment for nine months interest in cash O No adjustment is necessary because no payment is due on December 31 O A deferral of nine months interest expense and interest payable An accrual for nine months of interest expense and interest payable QUESTION 35 Which of the following would not be included in the acquisition cost of a long-lived asset? O Maintenance on the asset months later O Purchase price Installation costs O Test runs to prepare the asset for use QUESTION 36 Which cost flow assumption is most likely to be used by a company with large items in inventory, each with unique serial numbers? For example. CarMax uses this method and counts each car at the end of every business day O FIFO OLIFO Weighted Average O Specific identification QUESTION 37 Which of the following is printed on the face of a bond? O Market rate O Stated rate Market price All of the above QUESTION 38 Mason Incorporated declares a 40% stock dividend on its 30.000 shares of $20 par common stock on a day when its stock price is $50 What is the effect on the Retained Earnings account? O Debit S600.000 O Debit $240.000 O Debit $360.000 None of the above QUESTION 39 Boston Technology spends 55.000 on advertising S7000 on research to develop a patent and 8.000 on a machine to use in production What amounts capitalized as long-lived assets $12.000 58.000 so D520.000