ps://ol baker edu/web -444900-1&co-; 90% C\" Search Question 2 When 365 is divid

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ps://ol baker edu/web -444900-1&co-; 90% C" Search Question 2 When 365 is divided by the accounts recevable tunover the amount is expressed in O dollars O a percentage O raão days Question 3 The adjusšng entry required for bonds issued at a discount would O a debit to Bond Interest Expense, a creat to Discount on Bonds Payable, and a credt to Bond Intarest Parable O a debt to Bond Iinterest Expense, a debit to Discount on Bonds Payable, and a credit to Cash a deotto Bond Iinerest Expense, a debit to Discount on Bonds Payable, and a credit to Bond Interest Payable O a debit to Bond Iinderest Expense and a credit to Cash Question 4 Shares of stock reacquired by the issuing company are called O par value st?? O stock subscrpton O teasury stock O no-parvalue stock Question t bonds are issued at a discount the amonication of the discount over the ite of the bonds causes the intecest eapense so decrease each penod o Intecest expense to increase each pesod carring valoe of te bonds to decrease cash paisso Question s Druiding the net income for the ear dy te averae caita for the ar is te calculaton for the Type here to search

Explanation / Answer

2. D. When 365 is divided by accounts receivable turnover it gives us days collection period which is in days(unit)

3. C. Adjusting entries required for bonds issued on discount :

Interest expense a/c Dr.  

Bonds discount a/c Dr.

To bonds interest payable

4. C. Shares reaccquired are called treasury stock.

5. Discount on bonds is amortized over the life of the bond and it causes interest expense to increase each period as well as carrying amount of bonds in the balance sheet to reflect them on par value at maturity.

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