Cash classified on the balance sheet

Question

Can you please provide the answer along with the explanition and/or calculations?

Question 1: Sinking fund cash would be classified on the balance sheet at:

• current asset
• fixed asset
• intangible asset
• investment

Question 2: Sinking fund cash would be classified as a current asset?

• True or False

Question 3: A corp issued $100,000, 13%, 10 year bonds that pay interest semiannually. The market quote on the bonds was 94.8. How much cash was received when the bonds were sold?

• 94800
• 100000
• 70500
• 105400

Question 4: Sinking fund income is reported in the income statement as

• income from operations
• extraordinary income
• gain on sinking fund transactions
• other income

Question 5: Sinking fund investments would be classified on the balance sheet as

• current asset
• fixed asset
• investment
• intangile asset

Question 6: Bonds payable has a balance of $900,000 and discount on bonds has a balance of $10,000. If the issuing corp redems the bonds at 98, what is the amount of gain or loss on redemption?

• 8000 gain
• 8000 loss
• 10000 loss
• 10000 gain

Question 7: The interest rate specified in the bond indenture is called

• discount rate
• contract rate
• market rate
• effective rate

Question 8: If $4,000,000 of 12% bonds are issued at 101, the amount of cash received from the sale is

• 4040000
• 4000000
• 4080000
• 3960000

Question 9: The special fund set aside to provide for the payment of bonds at maturity is called the sinking fund?

• True or False