ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 7

What account(s) should Gannon credit in 2015 to record the sale
of 5,000 shares?

15) When computing diluted earnings per share, convertible
bonds are

16) Jeff Corporation purchased a limited-life intangible asset
for $225,000 on May 1, 2013. It has a useful life of 10 years.
What total amount of amortization expense should have been
recorded on the intangible asset by December 31, 2015?

17) A corporation called an outstanding bond obligation four
years before maturity. At that time there was an unamortized
discount of $750,000. To extinguish this debt, the company had
to pay a call premium of $250,000. Ignoring income tax