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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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This note was uploaded on 12/19/2009 for the course ACCT 3222 taught by Professor Delaune,l during the Spring '08 term at LSU.
- Spring '08