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ACC 304 Final Exam Part 1 (3 Sets)
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ACC 304 Final Exam Part 1 (3 Sets) 1
1) Swing High Inc. offers its 100 employees to participate in
an employee share-purchase plan. Under the terms of plan,
employees are entitled to purchase 10 shares at 10% discount.
The par values of shares were $10. Overall, 60 employees
accepted the offer and each employee purchased six shares. The
market price on purchase date was $100.
What is the compensation expense recorded by Swing High
Inc.?

2) The interest rate written in the terms of the bond indenture
is known as the
3) Which of the following methods of amortization is
normally used for intangible assets?

4) If bonds are initially sold at a discount and the straight-line
method of amortization is used, interest expense in the earlier
years will