exam 3part 1
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| show | F
🗑
|
||||
| show | T
🗑
|
||||
| Morgan Company issues 10%, 20-year bonds with a par value of $760,000 that pay interest semiannually. The current market rate is 9%. The amount paid to the bondholders for each semiannual interest payment is: | show 🗑
|
||||
| An annuity is a series of equal payments at equal time intervals. T or F | show 🗑
|
||||
| show | Debit Cash $383,793; debit Discount on Bonds Payable $16,207; credit Bonds Payable $400,000.
🗑
|
||||
| On January 1, 2013, Jacob issues $600,000 of 11%, 15-year bonds at a price of 102½. What is the journal entry to record the issuance of these bonds? | show 🗑
|
||||
| show | T
🗑
|
||||
| When the contract rate is above the market rate, a bond sells at a discount. T or F | show 🗑
|
||||
| show | 1.29
🗑
|
||||
| A bondholder that owns a $1,000, 10%, 10-year bond has: | show 🗑
|
||||
| show | convertible bond
🗑
|
||||
| Amount by which the bond price exceeds par value | show 🗑
|
||||
| The legal contract between the issuers and the bondholders | show 🗑
|
||||
| show | sinking fund bond
🗑
|
||||
| show | Serial bond
🗑
|
||||
| show | unsecured bond
🗑
|
||||
| show | bond certificate
🗑
|
||||
| show | discount on bonds payable
🗑
|
||||
| show | Straight line method
🗑
|
||||
| Two Step Process: Depreciation Per Unit = | show 🗑
|
||||
| show | Deprecation Per unit x Number of units produced in the period
🗑
|
||||
| show | 100% / useful life
🗑
|
||||
| show | 2 x straight line rate
🗑
|
||||
| show | double declining balance rate x beginning period book value
🗑
|
||||
| show | -does not materially incr. the plant assets life or capabilities
- recorded as an expense in the current period
-reported on income statement
🗑
|
||||
| show | - provide benefits for longer than the current period
- recorded as an addition to the asset account
- reported on the balance sheet
🗑
|
||||
| show | - permanent decline in the fair value of an asset requires writing the asset down to its fair value
🗑
|
||||
| asset impairment is the process of | show 🗑
|
||||
| show | record a gain
🗑
|
||||
| show | record a lose
🗑
|
||||
| If cash = BV, | show 🗑
|
||||
| show | Credit
debit
🗑
|
||||
| Recording cash received or paid | show 🗑
|
||||
| removing accumulated depreciation | show 🗑
|
||||
| removing the asset cost | show 🗑
|
||||
| show | credit
🗑
|
||||
| Natural resource examples | show 🗑
|
||||
| show | depletion expense over periods benefited
🗑
|
||||
| natural res. reported at cost | show 🗑
|
||||
| show | extract the natural resource
🗑
|
||||
| plant assets tied into extracting, assets are recorded in | show 🗑
|
||||
| show | -non-current without physical substance
- often provide exclusive rights or privileges
- usually acquired for operational use
🗑
|
||||
| show | including purchase price, legal fees, and filing fees
🗑
|
||||
| show | net sales/ average total assets
🗑
|
||||
| show | a trade in allowance is received on the old asset and the balance is paid in cash
🗑
|
||||
| accounting for the exchange of assets depends on | show 🗑
|
||||
| show | company's future cash flows will be altered
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
savannah0