legal document which summarizes the rights and privileges of bondholders

1

Question: A legal document which summarizes the rights and privileges of bondholders as well as the obligations and commitments of the issuing company is called

A

A bond indenture

B

A bond debenture

C

Trading on the equity

D

A term bond

2

Question: Meyer Company reported net income of $70,000 for the year. During the year, accounts receivable increased by $7,000, accounts payable decreased by $3,000 and depreciation expense of $5,000 was recorded. Net cash provided by operating activities for the year is

A

$65,000

B

$85,000

C

$69,000

D

$70,000

3

Question: Cost of goods manufactured equals $55,000 for 2010. Finished goods inventory is $2,000 at the beginning of the year and $5,500 at the end of the year. Beginning and ending work in process for 2010 are $4,000 and $5,000, respectively. How much is cost of goods sold for the year?

A

$57,500

B

$53,000

C

$51,500

D

$58,500

4

Question: On January 1, 2010, Grant Corporation issued $4,000,000, 10-year, 8% bonds at 102. Interest is payable semiannually on January 1 and July 1. The journal entry to record this transaction on January 1, 2010, is D

A

B

C

D