Question 7 options: the market rate of interest multiplied by the face value of the bonds. the stated rate multiplied by the beginning-of-period carrying amount of the bonds. the stated (nominal) rate of interest multiplied by the face value of the bonds. the market rate multiplied by the beginning-of-period carrying amount of the bonds. Question 8 (1 point) On April 1, 2019, Quirk issued $2,000,000, 9% bonds for $2,151.472 including accrued interest. Interest is payable annually on January 1, and the bonds mature on January 1, 2029. Determine the journal entry for April 1, 2019. Question 8 options: Cash 2,106,472 Bonds Payable 2,000,000 Premium on Bonds Payable 106,472 Cash 2,151,4 72 2.000,0 00 Premium on Bonds Payable Bonds Payable 151.47 2 2.15 1.47 2 Cash Bonds Payable Interest Expense Promum on Bonds Payable 200 0.00 0 45,0 00 106 472 Ca sh 2.0 00 000 Bonds Payabil 2.0 00 000 Question 9 (1 point) What is the total amount that should be expensed during the year (versus the company capitalizing the costs): 1. Purchased the cost of a patent from another company for $240,000. 2. Incurred $225,000 of Research and Development Costs. 3. Internally created $300,000 of Goodwill. 4. Purchased a tradename for $100,000. Question 9 options: $225,000 $ 525,000 $0 $ 865,000 Pilkey Company issues $4,000,000, 6%, 5-year bonds dated January 1, 2022 on January 1, 2022. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 5%. What are the proceeds from the bond issue? 2.50 % 3.00 % 5.00 % 6.00 % Present value of a single sum for 5 periods 0.88 385 0.86 261 0.78 353 0.74 726 Present value of a single sum fc. 10 periods 0.78 12 0.74 409 0.61 391 0.55 839 Present value of an annuity for 5 periods 4.64 583 4.57 971 4.32 948 4.21 236 Present value of an annuity for 10 periods 8.75 206 8.53 02 7.72 173 7.36 009 Question 10 options: $4,000,000 $4,173,195 $4,175,047 $4,173,847