Carrying amount of bonds = Bonds payable - discount on bonds payable
= $40000 - 1200
= $38800
D Question 4 3 pts Bonds payable has a balance of $40,000. Discount on Bonds payable...
QUESTION 1 Bonds Payable has a balance of $1,000,000 and Discount on Bonds Payable has a balance of $10,000. If the issuing corporation redeems t bonds at 97.5, what is the amount of gain or loss on redemption? a $25,000 loss b. $ 10,000 loss .$25,000 gain Od.$15,000 gain QUESTION 2 Basil Corporation issues for cash $1,000,000 of 8%, 10-year bonds, interest payable annually, at a time when the miarket rate ofinterest is 7% The straight-line method is adopted for...
Bonds Payable has a balance of $874,000 and Discount on Bonds Payable has a balance of $8,740. If the issuing corporation redeems the bonds at 97.5, what is the amount of gain or loss on redemption? Oa. $13,110 gain b. $13,110 loss Oc. C. $8,740 gain d. $8,740 loss
Bonds Payable has a balance of $1,010,000 and Discount on Bonds Payable has a balance of $12,120. If the issuing corporation redeems the bonds at 98, what is the amount of gain or loss on redemption?
Bonds Payable has a balance of $1,010,000 and Discount on Bonds Payable has a balance of $12,120. If the issuing corporation redeems the bonds at 98, what is the amount of gain or loss on redemption?
Bonds Payable has a balance of $1,010,000 and Discount on Bonds Payable has a balance of $10,100. If the issuing corporation redeems the bonds at 97.5, what is the amount of gain or loss on redemption? a. $15,150 loss Ob. $10,100 gain c. $10,100 loss Od. $15,150 gain
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
On December 31, 2018, Country Living Sales has 10-year Bonds Payable of 589,000 and Discount on Bonds Payable of $2350. How will this be shown on the December 31, 2018 Balance Sheet? Bonds Payable $89,000 less Discount on Bonds Payable $2,350 for a carrying amount of $86,650 Bonds Payable $89,000 less one-tenth of $2,350 for a carrying amount of $88,765 Bonds Payable $89,000 plus Discount on Bonds Payable for a carrying amount of $91,350 Bonds Payable $89,000
Smart Workout Fitness Gym has $900,000 of 10-year bonds payable outstanding. These bonds had a discount of $54,000 at issuance, which was 5 years ago. The company uses the straight-line amortization method. The current carrying amount of these bonds payable is O A. $846,000. O B. $927,000. OC. $873,000. OD. $900,000.
The balance in the Bonds Payable is a credit of $78,000. The balance in the Premium on Bonds Payable is a credit of $1,200. What is the bond carrying amount? O A. $1,200 OB. $79,200 OC. $76,800 OD. $78,000 Global Commerce Corporation purchased trading debt investments for $114,000 on December 31, 2018. There is a decrease of $5,800 in the fair value of the trading debt investments by the end of the year 2019. Which of the following is the...
Bonds Payable has a balance of $1,000,000 and Premium on Bonds Payable has a balance of $7,000. If the issuing corporation redeems the bonds at 101, what is the amount of gain or loss on redemption? $7,000 gain $3,000 gain $3,000 loss $7,000 loss