18( true or false)Homework Answers
Part 18
True
In the balance sheet of the issuing entity, an unamortized bond discount on bonds payable that are outstanding is reported within a contra liability account. A contra liability account is paired with the other obligation or liability account in the balance. The obligation with credit balance in the balance sheet is reduced with the help of contra liability account, which has debit balance. The unamortized bonds discount has debit balance and reduces the credit balance of bonds payable in the balance sheet.
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18( true or false)
Caylng value on the balance sheet. C The unamortized Discount on Bonds...
fundamentos de contabilidad best answer true or false best anwer If the market rate of interest...
fundamentos de contabilidad
best answer
true or false
best anwer
If the market rate of interest is 8%, the price of 6% bonds paying interest semiannually with a face value of $100,000 will be a. Equal to $100,000 b. Greater than $100,000 c. Less than $100,000 - d. Greater than or less than $100.000, depending on the maturity date of the bonds TRUE OR FALSE (Shows references are required) 16. If sinking fund cash is used to purchase investments, those...
true or false The balance in a bond discount account should be reported on the balance...
true or false
The balance in a bond discount account should be reported on the balance sheet as a deduction from the related bonds payable.
true or false 19. The balance in Premium on Bonds Payable should be reported as a...
true or false
19. The balance in Premium on Bonds Payable should be reported as a deduction from Bond Payable on the balance sheet.
25. Any unamortized premium should be reported on the balance sheet of the issuing corporation as...
25. Any unamortized premium should be reported on the balance sheet of the issuing corporation as a. a direct deduction from the face amount of the bonds in the liability section b. as paid-in capital c. a direct deduction from retained earnings d. an addition to the face amount of the bonds in the liability section
24. The balance in Premium on Bonds Payable a. should be reported on the balance sheet...
24. The balance in Premium on Bonds Payable a. should be reported on the balance sheet as a deduction from the related bonds payable b. should be allocated to the remaining periods for the life of the bonds by the straight- line method, if the results obtained by that method materially differ from the results that would be obtained by the interest method c. would be added to the related bonds payable on the balance sheet d. should be reported...
The carrying value of a bond is computed as the face value minus any unamortized discount...
The carrying value of a bond is computed as the face value minus any unamortized discount or plus any unamortized premium. 17 True or False points ( 8 01:48:33 True False
The discount on bonds payable or premium on bonds payable is shown on the balance sheet...
The discount on bonds payable or premium on bonds payable is
shown on the balance sheet as an adjustment to bonds payable to
arrive at the carrying value of the bonds. Indicate the appropriate
addition or subtraction to bonds payable:
Premium on
Bonds Payable
Discount on
Bonds Payable
Add
Deduct
Deduct
Deduct
Add
Add
Deduct
Add
PLEASE READ INSTRUCTIONS CAREFULLY Problem 3: Balance sheet classifications. Typical balance sheet classifications are as follows....
PLEASE READ INSTRUCTIONS CAREFULLY
Problem 3: Balance sheet classifications. Typical balance sheet classifications are as follows. a. Current Assets g. Long-Term Liabilities b. Investments h. Capital Stock C. Plant Assets i. Additional Paid-In Capital d. Intangible Assets j. Retained Earnings e. Other Assets k. Notes to Financial Statements f. Current Liabilities 1. Not Reported on Balance Sheet Indicate by use of the above letters how each of the following items would be classified on a balance sheet prepared at December...
Which of the following is true of a Discount on Bonds Payable account? It is subtracted...
Which of the following is true of a Discount on Bonds Payable account? It is subtracted from the Bonds Payable balance and shown with the current liabilities on the balance sheet. It is added to the Bonds Payable balance and shown with long-term liabilities on the balance sheet. It is added to the Bonds Payable balance and shown with stockholders' equity on the balance sheet. It is subtracted from the Bonds Payable balance and shown with long-term liabilities on the...
1) Rand Corporation issues 500, 5-year, 6%, $1,000 bonds dated January 1, 2019, at 105. The...
1) Rand Corporation issues 500, 5-year, 6%, $1,000 bonds dated January 1, 2019, at 105. The journal entry to record the issuance will show a A) debit to Cash of $500,000. B) credit to Premium on Bonds Payable for $25,000. C) credit to Bonds Payable for $525,000. D) credit to Cash for $525,000. E) None of the above. 2) Discount on Bonds Payable A) has a credit balance. B) is a contra account. C) is considered to be an addition...
fundamentos de contabilidad
best answer
true or false
best anwer
If the market rate of interest is 8%, the price of 6% bonds paying interest semiannually with a face value of $100,000 will be a. Equal to $100,000 b. Greater than $100,000 c. Less than $100,000 - d. Greater than or less than $100.000, depending on the maturity date of the bonds TRUE OR FALSE (Shows references are required) 16. If sinking fund cash is used to purchase investments, those...
true or false
The balance in a bond discount account should be reported on the balance sheet as a deduction from the related bonds payable.
true or false
19. The balance in Premium on Bonds Payable should be reported as a deduction from Bond Payable on the balance sheet.
25. Any unamortized premium should be reported on the balance sheet of the issuing corporation as a. a direct deduction from the face amount of the bonds in the liability section b. as paid-in capital c. a direct deduction from retained earnings d. an addition to the face amount of the bonds in the liability section
24. The balance in Premium on Bonds Payable a. should be reported on the balance sheet as a deduction from the related bonds payable b. should be allocated to the remaining periods for the life of the bonds by the straight- line method, if the results obtained by that method materially differ from the results that would be obtained by the interest method c. would be added to the related bonds payable on the balance sheet d. should be reported...
The carrying value of a bond is computed as the face value minus any unamortized discount or plus any unamortized premium. 17 True or False points ( 8 01:48:33 True False
The discount on bonds payable or premium on bonds payable is
shown on the balance sheet as an adjustment to bonds payable to
arrive at the carrying value of the bonds. Indicate the appropriate
addition or subtraction to bonds payable:
Premium on
Bonds Payable
Discount on
Bonds Payable
Add
Deduct
Deduct
Deduct
Add
Add
Deduct
Add
PLEASE READ INSTRUCTIONS CAREFULLY
Problem 3: Balance sheet classifications. Typical balance sheet classifications are as follows. a. Current Assets g. Long-Term Liabilities b. Investments h. Capital Stock C. Plant Assets i. Additional Paid-In Capital d. Intangible Assets j. Retained Earnings e. Other Assets k. Notes to Financial Statements f. Current Liabilities 1. Not Reported on Balance Sheet Indicate by use of the above letters how each of the following items would be classified on a balance sheet prepared at December...
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