27. The entry recorded by Vale Company on June 30, 2023 upon maturity at the end

Question

27. The entry recorded by Vale Company on June 30, 2023 upon maturity at the end of the bond's term will include: A) credit to Cash of $2,100,000 B) debit to Cash of $2,000,000. C) credit to Premium on Bonds Payable of $100,000. debit to Bonds Payable of $2,000,0000 28 If bonds have been issued at a discount, then over the life of the bonds the A) carrying value of the bonds will decrease. ) D) carrying value of the bonds will Increase. interest expense will increase, if the discount is being amortized on a straight-ine basis. unamortized discount will increase. 29. Disadvantages of the corporate form of business include which of the following? L. Double taxation Il. Ability to raise capital IlI. Ability to transfer ownership More cost V. Limited liability VI. More govemment regulation A) I 30. Which of the following sequences of dividend-related dates is in the correct chronological order (earliest date first)? A) Declaration date payment date record date B) Payment date declaration date record date C) Record date declaration date payment date payment date Declaration date record date

Explanation / Answer

27) C) credit to Premium on Bonds Payable of $100000

28) B) Carrying value of the Bonds will increase

29) D) I, IV, VI

30) D) Declaration date - record date - payment date

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