Any unamortized premium should be reported on the balance sheet of the issuing corporation as
a. a direct deduction from the face amount of the bonds in the liabilities section
b. as paid-in capital
c. a direct deduction from retained earnings
d. an addition to the face amount of the bonds in the liabilities section
d
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Which of the following happens after an economy reaches a peak?
A. Output begins to decline. B. The growth rate of population begins to rise. C. Income begins to rise. D. Unemployment begins to fall.
Why would ascribing to a “national work culture” be ineffective?
What will be an ideal response?
Which of the following would not be an elimination on a work sheet for a consolidated income statement?
a. Debit Cost of Goods Sold and credit Sales. b. Debit Interest Income and credit Interest Expense. c. Debit Common Stock and Retained Earnings and credit Investment in Subsidiary. d. Debit Sales and credit Cost of Goods Sold.
Explain how a company uses the accrual basis of accounting.
What will be an ideal response?