Exhibit 14-9 Hawk issued $200,000 of its ten-year 10% bonds for $224,924 on October 1, 2016. The effective rate on the bonds was 8% and interest is paid each October 1 and April 1. ? Refer to Exhibit 14-9. Assuming Hawk uses the effective interest method, the adjusting entry on December 31, 2016, would include
A) a credit to Premium on Bonds Payable for $502.
B) a credit to Interest Payable for $4,498.
C) a credit to Interest Payable for $5,000.
D) a debit to Interest Expense for $5,498.
C
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Answer the following statements true (T) or false (F)
1) n the weighted-average inventory costing method, when using the periodic inventory system, a single weighted average cost per unit is computed for the entire period. 2) When using the weighted-average inventory costing method, the dollar amounts for ending inventory and cost of goods sold are the same for both the perpetual and periodic inventory costing methods. 3) An accounting information system collects, records, stores, and processes accounting data to produce information that is useful for decision makers. 4) The collection of time records for company employees is an accounting information system activity that is classified as a business transaction involving the sale of merchandise inventory.
An integrated group of programs that supports the applications and facilitates their access to specified resources is called a (an)
a. operating system. b. database management system. c. utility system d. facility system. e. object system.
______ and ______ play an important role in determining whether or not we follow through on our moral choices.
Fill in the blank(s) with the appropriate word(s).
[The following information applies to the questions displayed below.] The inventory records for Radford Co. reflected the following:Beginning inventory @ May 1100 units @ $4.00First purchase @ May 7300 units @ $4.40Second purchase @ May 17500 units @ $4.60Third purchase @ May 23100 units @ $4.80Sales @ May 31900 units @ $7.80What is the amount of ending inventory assuming the FIFO cost flow method?
A. $480 B. $940 C. $440 D. $400