Deducted from bonds payable Added to bonds payable Included as an expense in the year of issue Reported as a deferred charge

Once your house is sold the lawyer must pay the mortgage for the property, all the line of credits that were secured against your property, real estate commissions, all outstanding property tax and utilities, legal fees. Once everything is paid you will get the balance if there is anything left.

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Which of the following most likely would be classified as a current liability? a.dividends payable. b.three-year notes payable. c.bonds payable in 5 years.( i chose this one) d.mortgage payable as a single payment in 10 years. moss county bank agrees to lend the sadowski brick company $200,000 on january 1. sadowski brick company signs a $200,000, 6%, 9-month note. what is the adjusting entry required if sadowski brick company prepares financial statements on june 30? a)interest expense 6,000 cash 6,000 ( i think its this one) b.interest payable 6,000 interest expense 6,000 c.interest expense 6,000 interest payable 6,000 d.interest payable 6,000 cash 6,000 on october 1, sam's painting service borrows $50,000 from national bank on a 3-month, $50,000, 4% note. the entry by sam's painting service to record payment of the note and accrued interest on january 1 is a.notes payable 50,500 cash 50,500 b.notes payable 50,000 interest payable 2,000 cash 52,000 c.notes payable 50,000 interest payable 500 cash 50,500 (i think its this one) d.notes payable 50,000 interest expense 500 cash 50,500 dominic's salon has total receipts for the month of $16,430 including sales taxes. if the sales tax rate is 6%, what are dominic's sales for the month? a.$15,444.20. b.$17,415.80. c.$15,500.00.( chose this one) d.it cannot be determined. the following totals for the month of april were taken from the payroll register of metz company. salaries $20,000 fica taxes withheld 1,533 income taxes withheld 4,400 medical insurance deductions 800 federal unemployment taxes 160 state unemployment taxes 1,000 the journal entry to record the monthly payroll on april 30 would include a a.debit to salaries expense for $20,000. b.debit to salaries expense for $13,267. c.credit to salaries payable for $20,000. d.debit to salaries payable for $20,000.( i choose this one) which of the following is not an advantage of issuing bonds instead of common stock? a.stockholder control is not affected. b.earnings per share on common stock may be lower. c.tax savings result. ( i chose this one) d.each of the above is an advantage. bonds that may be exchanged for common stock at the option of the bondholders are called a.options. b.callable bonds. c.convertible bonds. d.stock bonds.( this one i choose) if the market rate of interest is greater than the contractual rate of interest, bonds will sell a.at a discount. b.only after the stated rate of interest is increased. c.at a premium.( this one) d.at face value. hulse corporation retires its $500,000 face value bonds at 105 on january 1, following the payment of annual interest. the carrying value of the bonds at the redemption date is $518,725. the entry to record the redemption will include a a.credit of $18,725 to loss on bond redemption. b.debit of $18,725 to premium on bonds payable. c.credit of $6,275 to gain on bond redemption. d.debit of $25,000 to premium on bonds payable. the times interest earned ratio is computed by dividing a.income before interest expense and income taxes by interest expense. b.income before income taxes by interest expense. c.income before interest expense by interest expense.( i chose this one) d.net income by interest expense. larson company issued $500,000 of 8%, 5-year bonds at 106. assuming straight-line amortization and annual interest payments, what is the amount of the amortization at each interest payment point? a.$3,000 b.$40,000 c.$6,000 d.$34,000 ( this one) the following partial amortization schedule is available for courtney company who sold $200,000, five-year, 10% bonds on january 1, 2010 for $208,000 and uses annual straight-line amortization. bond amortization schedule interest periods interest to be paid interest expense premium amortization unamortized premium bond carrying value january 1, 2010 $8,000 $208,000 january 1, 2011 (i) (ii) (iii) (iv) (v) which of the following amounts should be shown in cell (i)? a.$20,800 b.$21,600 c.$ 4,000 ( i chose this one) d.$20,000 wolford company borrowed $750,000 from u.s. bank on january 1, 2009 in order to expand its mining capabilities. the five-year note required annual payments of $195,327 and carried an annual interest rate of 9.5%. what is the amount of expense wolford must recognize on its 2010 income statement? a.$46,555 b.$59,463 c.$52,694 d.$71,250 ( i chose this one) fornelli corporation borrowed $240,000 from central bank on may 31, 2009. the three-year, 7% note required annual payments of $91,452 beginning may 31, 2010. interest expense for the year ended december 31, 2009 was a.$9,800. b.$16,800. c.$11,200.( this one) d.$0.

I couldn't understand the formatting for the amortization table on #12. Besides that, the only questions that you answered correctly were #3 and #4. You should take another look at all the others.

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The following partial amortization schedule is available for courtney company who sold $200,000, five-year, 10% bonds on january 1, 2010 for $208,000 and uses annual straight-line amortization. which of the following amounts should be shown in cell (v)? a) $209,600 b) $208,800 c) $206,400 d) $207,200 the carrying value of a bond is equal to the market price on the date of sale. a) true b) false on january 1, 2010, ermler company, a calendar-year company, issued $600,000 of notes payable, of which $150,000 is due on january 1 for each of the next four years. the proper balance sheet presentation on december 31, 2010, is a) current liabilities, $600,000. b) long-term debt , $600,000. c) current liabilities, $300,000; long-term debt, $300,000. d) current liabilities, $150,000; long-term debt, $450,000. moss county bank agrees to lend the sadowski brick company $200,000 on january 1. sadowski brick company signs a $200,000, 6%, 9-month note. what is the adjusting entry required if sadowski brick company prepares financial statements on june 30? warner company issued $800,000 of 6%, 10-year bonds on one of its interest dates for $690,960 to yield an effective annual rate of 8%. the effective-interest method of amortization is to be used. how much bond interest expense (to the nearest dollar) should be reported on the income statement for the end of the first year? a) $55,422 b) $55,277 c) $55,131 d) $48,000 a $150,000 bond with a quoted priced of 102 ¼ is sold for $153,375. a) true b) false

i only know that 2 is true and 5 is b- 55,277