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On March 31, 2015, Arndt declared a 10% stock dividend, and
accordingly 900 additional shares were issued, when the fair
value of the stock was $18 per share. For the three months
ended March 31, 2015, Arndt sustained a net loss of $32,000.
The balance of Arndt’s retained earnings as of March 31, 2015,
should be

24) On September 1, 2014, Halley Co. issued a note payable to
Fidelity Bank in the amount of $1,800,000, bearing interest at
10%, and payable in three equal annual principal payments of
$600,000. On this date, the bank's prime rate was 11%. The first
payment for interest and principal was made on September 1,
2015. At December 31, 2015, Halley should record accrued
interest payable of

ACC 304 Final Exam Part 1 (3 Sets) 2