Chapter 10 Homework - Nicholas Kuras Q:3, 4, 5, 6, 8, 9,...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Nicholas Kuras Q:3, 4, 5, 6, 8, 9, 10, 12, 15, 18, 20, 22, 24, 25 | P:1A, 2B, 10B 3) a) I agree. They are recorded as a debit from the total amount of cash made. b) Cash $8,550 Sales $8,000 Sales Taxes Payable $550 4) a) Cash $9000 Unearned Ticket Revenue $9000 b) Unearned Ticket Revenue $9,000 Ticket Revenue $9,0 00 5) Social Security taxes, federal income taxes, state income taxes 6) a) employer’s share of Social Security taxes, state and federal unemployment b) Payroll Tax Expense 8) a) Log-term liabilities are things that a company expects to need to pay more than a year into the future. Two examples would be bonds and long-term notes. b) A bond is a form of credit that is given based upon either general credit, or against an asset. 9) a) Secured is against an asset, unsecured is against general credit b) Convertible is a bond that can be converted into common stock. Callable is a bond that can be retired at a specific value. 10) a) Face value – amount of principal due at the maturity date b) Contractual interest rate – rate used to determine amount of cash interest the borrower
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 08/30/2010 for the course BA 2340 taught by Professor Staff during the Fall '08 term at Michigan Technological University.

Page1 / 7

Chapter 10 Homework - Nicholas Kuras Q:3, 4, 5, 6, 8, 9,...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online