« previous next »

Author Question: Proper reporting of revenues and expenses in a period is due to the accounting period concept. a. ... (Read 136 times)

vicotolentino

  • Hero Member
  • *****
  • Posts: 552
on: Jul 5, 2018
Proper reporting of revenues and expenses in a period is due to the accounting period concept.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

A government defeased in substance 10 million of old Enterprise Fund bonds by paying 12 million into a qualifying trust for that purpose. The refunded bonds had an unamortized premium of 200,000 and bond issue costs of 50,000 .
 
  Resources to finance the defeasance of the old bonds were provided by issuing 12,000,000 of new bonds issued at par. What amount of deferred interest expense adjustment should the government report?
  A. 0.
  B. 1,850,000 debit.
  C. 1,800,000 debit.
  D. 1,850,000 credit.


Anna

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jul 5, 2018
Answer to Question 1

True

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Synodic Period Synodic Period
When young infants hold objects for a long period of time they eventually become habituated to them. When young infants hold objects for a long period of time they eventually become habituated to them.
Accounting Accounting
Embryonic Period Embryonic Period
State the amplitude, period, equation of the axis, and maximum and minimum value State the amplitude, period, equation of the axis, and maximum and minimum value
VALUATION CONCEPT & METHODOLOGIES VALUATION CONCEPT & METHODOLOGIES
Video: Introduction to Pre-eclampsia

For a complete list of videos, visit our video library