The voters in ohio city approved the construction of a new city hall building and approved a $5 million bond issue with a stated rate of interest of 6% to fund the construction. when the bonds were issued, they sold for 101. what are appropriate entries related to the premium? in the debt service fund debit cash $50.000; credit revenues $50,000; no other entries required. debit cash $50,000; credit other financing sources—nonreciprocal transfer-in $50,000; no other entries required. debit other financing sources—non-reciprocal transfer out $50,000; credit cash $50,000. no entry in the debt service fund.

Acompany set up a petty cash fund with $800. the disbursements are as follows: office supplies $300 shipping $50 postage $30 delivery expense $350 to create the fund, which account should be credited? a. postage b. cash at bank c. supplies d. petty cash

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In year 1, the bennetts' 25-year-old daughter, jane, is a full-time student at an out-of-state university but she plans to return home after the school year ends. in previous years, jane has never worked and her parents have always been able to claim her as a dependent. in year 1, a kind neighbor offers to pay for all of jane's educational and living expenses. which of the following statements is most accurate regarding whether jane's parents would be allowed to claim an exemption for jane in year 1 assuming the neighbor pays for all of jane's support? a.no, jane must include her neighbor's gift as income and thus fails the gross income test for a qualifying relative.b.yes, because she is a full-time student and does not provide more than half of her own support, jane is considered her parent's qualifying child.c.no, jane is too old to be considered a qualifying child and fails the support test of a qualifying relative.d.yes, because she is a student, her absence is considered as "temporary." consequently she meets the residence test and is a considered a qualifying child of the bennetts.