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12. The most significant current source of generally accepted accounting principles is the

The following information pertains to ABC. Corp.’s issuance of bonds on July 1,20X5: Face amount: $10,000 Term: 8 years Stated interest rate: 8% Interest payment dates: Annually on July 1 Yield: 10% What should be the issue price for this bond?

3. An adjusting entry should never only include:

15. The following trial balance of Bulldog Company at December 31, 2020 has been properly adjusted except for the income tax expense adjustment: Bulldog CompanyTrial BalanceDecember 31, 2020 DR CR Cash 876,000 Accounts receivable (net) 2,704,000 Inventory 2,090,000 Property, plant, and equipment (net) 7,565,000 Accounts payable and accrued liabilities 1,768,000 Income taxes payable 660,000 Deferred income tax liability 85,000 Common Stock 2,341,000 Additional paid-in capital 3,683,000 Retained earnings, 1/1/20 3,492,000 Net sales and other revenues 12,873,000 Costs and expenses 11,150,000 Income tax expenses 517,000 Total 24,902,000 24,902,000 Included in accounts receivable is $1,180,000 due from a customer and payable in quarterly installments of $147,500. The last payment is due December 31, 2022 (i.e., two years from today).             In Bulldog’s December 31, 2020 balance sheet, the current assets total is:

5. All the following are ways in which accounting information is used by external financial statement users except to

Which of the following factors contribute to high-risk behaviors in teens?

10. The income statement of Bully Co. for 2020 included the following items:   Interest revenue                               $158,000 Salaries and wages expense           $209,000 Insurance Expense                           $22,000   The following balances have been excerpted from Bully Company’s balance sheets:   December 31, 2020 December 31, 2019 Interest Receivable $18,200 $15,900 Salaries and Wages Payable 17,800 9,100 Prepaid Insurance 2,200 2,900 The cash paid for insurance premiums during 2020 was:

11. Which of the following is not an external user of financial reports?  

20. (6 points) Use the following partial Balance Sheet, Income Statement, and additional information to answer the following questions:

(5 points. NO PARTIAL) Bella Pool Company sells prefabricated pools that cost $125,000 to customers for $150,000. The sales price includes an installation fee, which is valued at $25,000. The fair value of the pool is $130,000. The installation is considered a separate performance obligation and is expected to take 3 months to complete.