Question 1 On July 1, 200X you enter into a note payable of $200,000 with a 5% annual interest rate

Question 1

On July 1, 200X you enter into a note payable of $200,000 with a 5% annual interest rate. Your interest expense for 200X will be:

$10,000.

$2,500

$2,000

$5,000

Question 2

Post Company issues a 6 year, 6%, $200,000 bond at par on July 31. The journal entry would be:

A debit to cash of $200,000 and a credit to bonds payable of $200,000.

A debit to bonds payable of $200,000 and a credit to cash of $200,000.

A debit to cash of $200,000 and a credit to bonds receivable of $200,000.

A debit to bonds receivable of $200,000 and a credit to cash of $200,000.

Question 3

Post Company issues a 6 year, 6%, $200,000 bond at par on July 31. How much interest will be paid over the life of the bond?

$4,000

$6,000

$12,000

$72,000

Question 4

A company has current assets of $500,000, net income of $10,000, current liabilities of 250,000 and equity of $250,000. What is the current ratio?

0.5

7.5

0.3

2.0

Question 5

If a company has gross salaries of $12,000 and it withholds $1,800 for income taxes and $800 for FICA taxes, the journal entry to record the employee s pay should include:

Debit to salary expense for $9,400

Debit to salary payable for $9,400

Credit to salary payable for $9,400

Credit to cash for $12,000

Our guarantees

Study Acers provides students with tutoring and help them save time, and excel in their courses. Students LOVE us!No matter what kind of essay paper you need, it is simple and secure to hire an essay writer for a price you can afford at StudyAcers. Save more time for yourself. Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Get your paper done by an expert

Order A Custom Paper