A ten-year bond issue of $400,000, interest rate of 9% paid semiannually, is sold for $440,000 when the market rate is 8%. The bonds were not sold between interest dates and the straight-line amortization method is used. The entry to record the first interest payment would include
a. a debit to Cash of $18,000.
b. a debit to Bond Interest Payable of $18,000.
c. a debit to Premium on Bonds Payable of $2,000.
d. a credit to Bond Interest Expense of $16,000.
c
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The work sheet is a required report made available to external decision makers.
Answer the following statement true (T) or false (F)
Lorissa files a petition for bankruptcy. Lorissa's creditors must file with the court their proof of claims against Lorissa's assets within
A. fifteen days of the order for relief. B. thirty days of the filing of the petition. C. sixty days of the automatic stay. D. ninety days of the creditors' meeting.
A broker who sells a multiple list property is not an agent of the listing broker
Indicate whether the statement is true or false
When you go on vacation you give your neighbor authority to pick up your mail and watch for burglars for you. You tell the neighbor not to go into the house or let anyone else in. A fire on the hills threatens your house. The neighbor goes in to carry out valuables before the house burns. This action is:
a. a trespass, which is illegal b. breaking and entering, which is a crime c. an agency by estoppel d. an agency by implied ratification e. none of the other choices