ACC 206 Week 7 Quiz Chapter 15 -
Multiple Choice Question 110
In a lease contract,
Multiple Choice Question 51
A bondholder that sends in a coupon to receive interest payments must have a (n)
Multiple Choice Question 94
If bonds can be converted into common stock,
Multiple Choice Question 93
If there is a loss on bonds redeemed early, the
Multiple Choice Question 57
Bonds will always fall into all but which one of the following categories?
Multiple Choice Question 63
The following exhibit is for Target bonds.
Bonds Close Yield Volume Net Change
8 1/8 17 100¼ 8.2 35 +7/8
On the day of trading referred to above,
Multiple Choice Question 106
Harris Company borrowed $800,000 from Liber Bank on January 1, 2013 in order to expand its mining capabilities. The five-year note required annual payments of $203,013 and carried an annual interest rate of 8.5%. What is the balance in the notes payable account at December 31, 2014?
Multiple Choice Question 83
Rikki Company received proceeds of $188,000 on 10-year, 6% bonds issued on January 1, 2014. The bonds had a face value of $200,000, pay interest semi-annually on June 30 and December 31, and have a call price of 101. Rikki uses the straight-line method of amortization.
What is the amount of interest Rikki must pay the bondholders in 2014?
Multiple Choice Question 116
In a recent year Chandler Corporation had net income of $150,000, interest expense of $40,000, and tax expense of $20,000. What was Chandler Corporation's times interest earned ratio for the year?
Multiple Choice Question 118
The adjusted trial balance for Otam Corp. at the end of the current year, 2014, contained the following accounts.
5-year Bonds Payable 8% $1,500,000
Interest Payable 50,000
Premium on Bonds Payable 150,000
Notes Payable (3 mo.) 40,000
Notes Payable (5 yr.) 145,000
Mortgage Payable ($10,000 due currently) 300,000
Salaries and Wages Payable 18,000
Taxes Payable (due 3/15 of 2015) 25,000
The total long-term liabilities reported on the balance sheet are