This preview shows pages 1–3. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: Answer Correct Answer: Question 6 0 out of 0.5 points What amount should be recorded as the cost of a machine purchased December 31, 2009, which is to be financed by making 8 annual payments of $11,470 each beginning December 31, 2009? The applicable interest rate is 12%. Answer Correct Answer: $63,816 Question 7 0 out of 0.5 points Correct Answer: Question 8 0.5 out of 0.5 points Selected Answer: Correct Answer: Question 9 0.5 out of 0.5 points Selected Answer: Correct Answer: Question 10 0 out of 0.5 points On January 1, 2009, Annette issued $400,000 of its 6%, 10-year bonds. At the time of issuance the market rate of interest was 8%. Interest is payable semiannually on January 1 and July 1. What amount should Annette report for the issuance of the bonds? Answer Correct Answer:...
View Full Document
This note was uploaded on 10/19/2010 for the course ACCOUNTING Finance 23 taught by Professor Bob during the Winter '10 term at Wayne State University.
- Winter '10