Time left 1:50:19 Question 33 On January 31, 2020, Combinor Company issued $900,000 face amount of 9%, 10-year bonds due January 31, 2030, with a present value of $965,423 at a 8% yield, to combinee Company for its net assets. The journal entry for the merger includes the following except: Not yet answered Marked out of 1.00 Flag question a. Credit to bonds payable $900,000. O b. Credit to premium on bonds payable $65,423. O c. Credit to discount on bonds payable $65,423. O d. Debit to investment in combinee net assets $965,423. Previous page Next page Time left 1:49:59 Question 34 Not yet answered Amer and Samer, partners of Amer & Samer LLP, who share net income and losses in a 3:2 ratio, respectively, decided to liquidate the partnership. A portion of the noncash assets had been realized, but assets with a carrying amount of $21,000 were yet to be realized. All liabilities had been paid, and cash of $10,000 was available for distribution to partners. The partners' capital account credit balances were $20,000 for Amer and $11,000 for Samer. the amount of cash (totaling $10,000) to be distributed to each partner would be: Marked out of 1.00 Flag question O a. 57,400 for Amer and $2,600 for Samer. O b. 54,000 for Amer and $6,000 for Samer. c. $6,000 for Amer and $4,000 for Samer. O d. $2,600 for Amer and $7,400 for Samer. Previous page Next page