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American Co. sold $100,000 of bonds for an issue price of 98. As a result of selling these bonds, its total assets increase by:
$98,000 and its total liabilities increase by $100,000.
$100,000 and its total liabilities increase by $98,000.
$100,000 and its total liabilities increase by $100,000.
$98,000 and its total liabilities increase by $98,000.
Payroll taxes paid by employees include which of the following?
Federal income tax, federal unemployment tax, and Medicare
Federal income tax withheld, state income tax withheld, and Medicare
Social security, federal income tax, and federal unemployment tax
Social security, federal unemployment tax, and state unemployment tax
Your company sells $50,000 of bonds for an issue price of $52,000. Which of the following statements is correct?
The bond sold at a price of 104, implying a discount of $2,000.
The bond sold at a price of 52, implying a discount of $2,000.
The bond sold at a price of 52, implying a premium of $2,000.
The bond sold at a price of 104, implying a premium of $2,000.
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