Unformatted text preview: the chairperson and president is not more than $650,000. • Confirm with the trustee that insurance policies protecting against fire loss to the extent of 100 percent of value have been filed. • Test retained earnings to ensure that 40 percent has been restricted from dividend payments. • Confirm with the First Morgan Bank of Austin that a sinking fund has been established and that the required semiannual payments have been made. • Confirm whether any bonds have been repurchased. b. The following disclosures should be made: • The amount, interest rate, and due date of each bond issue. • The covenant restrictions on the bond indentures. • The amount of debt due over each of the next five years. 15-11 D 15-12 B 15-13 B 15-14 B 15-15 B 15-16 D 15-17 D 15-18 D 15-19 B 15-20 C...
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- Spring '08
- Finance, capital ratio, bond indentures, D B B B B D D D B C, First Morgan Bank, frequent financing activities