On January 1, 2018, Ling Services issued $168,000 of six-year, 12% bonds when the market interest rate was 11%. The issue price of the bonds was $177,110. Ling uses the effective-interest method to amortize the bond premium. Semiannual interest payments are made on June 30 and December 31 of each year. How much interest expense will be recorded when the first interest payment is made? (Round the final answer to the nearest dollar.)
A) $10,627
B) $9741
C) $10,080
D) $9240
B) $9741
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Social couponing is one of the hottest sales promotion trends today. This refers to:
A) sampling. B) Groupons. C) sweepstakes. D) freestanding inserts. E) personal selling.
Which of the following statements about statistics is FALSE?
a. Statistics can be used to support virtually anything. b. Statistical methods and interpretation should not be included in the report process because they are easily misinterpreted. c. Statistical interpretation is the only practical and valid method by which some data can be interpreted. d. The use of statistical interpretation often seems valid and objective, even when it is not. e. All of the above statements are incorrect.
If a company uses $1450 of its cash to purchase supplies, the effect on the accounting equation would be:
A. Assets decrease $1450 and equity decreases $1450. B. Assets increase $1450 and liabilities increase $1450. C. Assets increase $1450 and liabilities decrease $1450. D. Assets decrease $1450 and equity increases $1450. E. One asset increases $1450 and another asset decreases $1450, causing no effect.
The North American Industry Classification System (NAICS) designates industries with a numerical code in a defined structure. A six-digit coding system is used. The sixth digit designates a(n)
A. industry group. B. specific industry. C. individual country-level national industry. D. sector of the economy. E. industry subsector.