QUESTION 26

1. The general ledger is:

   	a.	A journal in which transactions are first recorded.
   	b.	A list of all identification numbers used by the company.
   	c.	A record containing all accounts and their balances.
   	d.	A record containing the increases and decreases in a specific asset, liability, equity, revenue, or expense item.

2.5 points

QUESTION 27

1. 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

1. 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

2.5 points

QUESTION 29

1. When calculating a company's retained earnings, which of the following is not considered?

   	a.	Expenses
   	b.	Cash
   	c.	Dividends
   	d.	Revenues

2.5 points

QUESTION 30

1. When is revenue properly recognized?

   	a.	At the end of the accounting period
   	b.	When a customer makes an order.
   	c.	When goods or services are provided to customers and at the amount expected to be received from the customer.
   	d.	When cash from a sale is received

Please help me answer the questions, I will upvote.