On January 1, 2020 Jinn Inc. issued 10-year, 10% $100,000 bonds for 105, because the market rate of interest on that date was 8%. The bonds pay interest annually on December 31steach year. One year later on January 1, 2021, Jinn Inc. retires the $100,000 bonds by repurchasing them in the market for $102,000. What is the amount of gain or loss that Jinn Inc. would record on the retirement of the bonds?

Werner Corp. purchased a new piece of equipment on January 1, 2020. The equipment had a list price of $60,000, however the seller agreed to allow Werner Corp. to pay for the equipment in 5 yearly installments of $14,000 on December 31 of each year. Assuming the note incurs interest at 6%, what amount should Werner Corp. debit the equipment account for on the date of purchase?   

Which of the following would NOT appear on a statement of cash flows prepared using the direct method?

Discount-Mart issues $10 million in bonds on January 1, 2021. The bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds: Date Cash Paid Interest Expense Increase in Carrying Value  Carrying Value 01/01/2021 $ 8,640,967 06/30/2021 $ 300,000 $ 345,639 $ 45,639 8,686,606 12/31/2021 300,000 347,464 47,464  8,734,070 06/30/2022 300,000 349,363 49,363  8,783,433 12/31/2022 300,000 351,337 51,337  8,834,770   What is the stated annual rate of interest on the bonds?

Congratulations! You’ve just won the lottery. Your two options are: Take $60,000 today. Take $14,000 at the end of every year, for next six years, assuming a discount rate of 12%. Which option are you better off choosing and by how much in today’s dollars?

Halloween Town Corp. issued $60,000 of its 9% bonds at par on January 1, 2015. At year end, the bonds are trading on the bond market for a discount. Which of the following could be the market interest rate of similar bonds at year end?

Some simple columnar and pseudostratified columnar epithelia have _________ cells, which produce aprotective mucous coating over the mucous membranes.

The trachea is __________ to the esophagus.

It is not possible for two signals to be coherent if there is a phase delay.   Reference: Ch. 15

The spike-triggered averaging method extracts the force produced by single motor units during sustained voluntary contractions.   Reference: Duchateau & Enoka (2011)