Eddie Industries issues $1,500,000 of 8% bonds at 105, the amount of cash received from the sale is
a. $1,425,000
b. $1,080,000
c. $1,000,000
d. $1,575,000
d
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Which of the following would NOT be reported in the stockholders' equity section of the balance sheet?
a. Retained earnings appropriated for future plant expansion b. Dividends declared on preferred stock c. Paid-in capital in excess of par value d. Deficit in retained earnings
When surveyed about the behavior of managers, employees reported which of the following as the most common unethical behaviors witnessed?
a. sexual harassment b. blaming mistakes on others c. theft or falsifying expense reports d. not keeping promises
At the beginning of 2017, Brady, Inc has the following account balances
Accounts Receivable $43,000 (Debit) Allowance for Bad Debts $8,000 (Credit) Bad Debts Expense $0 During the year, credit sales amounted to $840,000. Cash collected on credit sales amounted to $790,000, and $17,000 has been written off. At the end of the year, the company adjusted for bad debts expense using the percent-of-sales method and applied a rate, based on past history, of 2.5%. The amount of bad debts expense for 2017 is ________. A) $21,000 B) $41,825 C) $17,000 D) $12,000
One objective of trade-oriented promotions is to encourage retailers to display and promote an established brand.
Answer the following statement true (T) or false (F)