Question 1

If $2,000,000 of 10% bonds are issued at 95,the amount of cash received from the sale is

Accepted Answer

A) $2,200,000 
B) $2,000,000 
C) $2,100,000 
D) $1,900,000 
A) $2,200,000 
B) $2,000,000 
C) $2,100,000 
D) $1,900,000

Question 2

To determine the six month interest payment amount on a bond,you would take one-half of the market rate times the face value of the bond.

Accepted Answer

A) True 
 B)False

Question 3

The Reagan Corporation issues 1,000,10-year,8%,$1,000 bonds dated January 1,2014,at 92.The journal entry to record the issuance will show a

Accepted Answer

A) credit to Discount on Bonds Payable for $80,000. 
B) debit to Cash of $1,000,000. 
C) credit to Bonds Payable for $1,000,000. 
D) credit to Cash for $920,000. 
A) credit to Discount on Bonds Payable for $80,000. 
B) debit to Cash of $1,000,000. 
C) credit to Bonds Payable for $1,000,000. 
D) credit to Cash for $920,000.

If $2,000,000 of 10% bonds are issued at 95,the amount of cash received from the sale is

To determine the six month interest payment amount on a bond,you would take one-half of the market rate times the face value of the bond.

The Reagan Corporation issues 1,000,10-year,8%,$1,000 bonds dated January 1,2014,at 92.The journal entry to record the issuance will show a

Introduction to Accounting and Business

Analyzing Transactions

The Adjusting Process

Completing the Accounting Cycle

Accounting for Merchandising Businesses

Inventories

Sarbanes-Oxley, internal Control, and Cash

Receivables

Fixed Assets and Intangible Assets

Current Liabilities and Payroll

Corporations: Organization, stock Transactions, and Dividends

Investments and Fair Value Accounting

Statement of Cash Flows

Financial Statement Analysis

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Exam 12: Long-Term Liabilities: Bonds and Notes

If $2,000,000 of 10% bonds are issued at 95,the amount of cash received from the sale is

To determine the six month interest payment amount on a bond,you would take one-half of the market rate times the face value of the bond.

The Reagan Corporation issues 1,000,10-year,8%,$1,000 bonds dated January 1,2014,at 92.The journal entry to record the issuance will show a

Introduction to Accounting and Business

Analyzing Transactions

The Adjusting Process

Completing the Accounting Cycle

Accounting for Merchandising Businesses

Inventories

Sarbanes-Oxley, internal Control, and Cash

Receivables

Fixed Assets and Intangible Assets

Current Liabilities and Payroll

Corporations: Organization, stock Transactions, and Dividends

Investments and Fair Value Accounting

Statement of Cash Flows

Financial Statement Analysis

Filters