The assets and liabilities of the company arc dollar 128,000 and dollar 84,000. respectively. Stockholders- equity should equal dollar 44,000 dollar 212,000 dollar 128,000 dollar 84,000 When the market rate of interest was 11 percentage, Munson Corporation issued dollar 1.000.000, 12 percentage. 8-year bonds that pay interest semiannually. The selling price of this bond issue was a dollar 1,000.000 dollar 720.495 dollar 1,154,387 dollar 1,052,310 Entries are made lo the Petty Cash account when making payments out of the fund. establishing the fund, recording shortages in the fund. replenishing the petty cash fund. Equipment with a cost of dollar 130,000 has an estimated residual value of dollar 10,000 and an estimated life of 5 years or 12,.000 hours It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used3,300 hours? dollar 24,000 dollar 32,500 dollar 35,750 dollar 33,000 The objectives of internal control are to provide reasonable assurance that operations arc managed to achieve goals, financial reports are accurate, and laws and regulations arc complied with provide control "over intemal-use only" reports and employee internal conduct prevent fraud, and promote the social interest of the company control the internal organization of the accounting department personnel and equipment Which of the following below is an example of a capital expenditure? replacing all bumed-out light bulbs in the factory replacing an engine in a company car cleaning the carpet in the front room d tune-up for a company truck On October 1, Black Company receives a 6 percentage interest bearing note from Reese Company to settle a dollar 20,000 account receivable. The note is due in six months. At December 31, Black should record interest revenue of dollar 1,200 dollar 300 dollar 600 dollar 0