On July 1, Year 5, Eagle Corp. issued 600 of its 10%, $1,000 bonds at 99 plus accrued interest. The bonds are dated April 1, Year 5 and mature on April 1, Year 15. Interest is payable semiannually on April 1 and October 1. What amount did Eagle receive from the bond issuance?
(A)$579,000
(B)$594,000
(C)$600,000
(D)$609,000
Which of the following transactions have a negative impact on cash? Mark one answer:
(A)A decrease in supplies on hand (B)Proceeds from selling equipment used in the business (C)A loss on selling equipment used in the business (D)Dividends declared and paid (E)An increase in income taxes payable
Correct Answer: D
When can I take the CPA Exam
The CPA Exam is offered four times each year: January 1 – March 10, April 1 – June 10, July 1 – September 10 and October 1 – December 10.
Which one of the following is least likely an advantage associated with a wholly owned foreign subsidiary?
(A)Protection of proprietary information. (B)Ability to coordinate activities of the subsidiary with other activities. (C)Ability to maintain quality control. (D)Minimizes capital investment required.
Correct Answer: D
More CPA Exam Questions
- 1According to COSO, which of the following components addresses the need to respond in an organized manner to significant changes resulting from international exposure, acquisitions, or executive transitions?
- 2Retained earnings are revenue of a corporation that is:
- 3In AICPA professional standards, the word should indicates an (a)
- 4In the statement of owner’s equity, owner’s equity or capital is calculated using: Mark one answer:
- 5If a share of cumulative preferred stock has a call price of $95 and has had four years of dividends of $5 each, what is the book value of that share of stock? Mark one answer: