Question: PLEASE DO NOT ANSWER IF CAN'T PROVIDE ALL THE ANSWERS AND EXPLANATIONS! QUESTION 27 Under the effective interest method of amortizing premiums and discounts on

PLEASE DO NOT ANSWER IF CAN'T PROVIDE ALL THE ANSWERS AND EXPLANATIONS!

QUESTION 27

Under the effective interest method of amortizing premiums and discounts on bonds payable, Bond Interest Expense is calculated as (assume semi-annual interest payments):

	a.	Carrying Value times Stated Interest Rate times 1/2
	b.	Par Value times Stated Interest Rate times 1/2
	c.	Carrying Value times Market Interest Rate times 1/2
	d.	Par Value times Market Interest Rate times 1/2

2.5 points

QUESTION 28

Under the effective interest method of amortizing premiums and discounts on bonds payable, cash paid for interest is calculated as (assume semi-annual interest payments):

	a.	Par Value times Market Interest Rate times 1/2
	b.	Par Value times Stated Interest Rate times 1/2
	c.	Carrying Value times Market Interest Rate times 1/2
	d.	Carrying Value times Stated Interest Rate times 1/2

QUESTION 33

Which of the following accounts would not be included in the journal entry to record payroll tax expense?

a.
FUTA Unemployment Tax Payable

b.
Federal Income Tax Payable

c.
SUTA Unemployment Tax Payable

d.
FICA - Medicare Taxes Payable

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	a.	FUTA Unemployment Tax Payable
	b.	Federal Income Tax Payable
	c.	SUTA Unemployment Tax Payable
	d.	FICA - Medicare Taxes Payable