If bonds are issued at 101.25, this means that
a. a $1,000 bond sold for $101.25.
b. the bonds sold at a discount.
c. a $1,000 bond sold for $1,012.50.
d. the bond rate of interest is 10.13% of the market rate of interest.
c
You might also like to view...
The accountant for Frieda Company did not record a purchase of merchandise on credit or include the items in the ending inventory. Assuming a periodic inventory system, the balance sheet effects of these omissions on assets, liabilities, and retained earnings would be Set Assets Liabilities Retained Earnings I. Understate Understate Understate II. Understate Understate No effect III. No effect
Understate No effect IV. Understate No effect Understate ? A) Set I B) Set II C) Set III D) Set IV
One of the best ways to overcome fear is to know what happens in a typical interview
Indicate whether the statement is true or false
A business purchases $500 of office supplies on account. Which of the following accounts is credited?
A) Cash B) Accounts Payable C) Office Supplies D) Service Revenue
When is revenue recognized under accrual accounting?
What will be an ideal response?