#'s 49-53

Assuming no employees are subject to ceilings for their earnings. Moore Company has the following information for the pay period of December 15-31. 20xx. Salaries Payable would be recorded for a. $11, 040 b. $9.808 c. $16,000 d. $10, 800 A business issues 20-year bonds payable in exchange for preferred stock. This transaction would be reported on the statement of cash flows in a. the cash flows from financing activities section b. the cash flows from investing activities section c. the cash flows from operating activities section d. a separate schedule If a fixed asset, such as a mach line, was purchased on January 1st for $22, 500 with an estimated life of 6 years and a salvage or residual value of $900. the journal entry for monthly expense under straight-line depreciation is: a. EOM Depreciation Expense 300 Accumulated Depreciation 300 b. EOM Depreciation Expense 3, 600 Accumulated Depreciation 3, 600 c. EOM Accumulated Depreciation 300 Depreciation Expense 300 d. EOM Accumulated Depreciation 3, 600 Depreciation Expense 3, 600 The interest rate specified in the bond indenture can also be called the a. effective rate b. coupon rate c. market rate d. discount rate A company with 100,000 authorized shares of $4 par common stock issued 40,000 shares at $8. Subsequently, the company declared a 4% stock dividend on a date when the market price was $12 a share. What is the amount transferred from the Retained Earnings account to Paid-in Capital accounts as a result the stock dividend? a. $12, 800 b. $19, 200 c. $48, 800 d. $32,000