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 |
|
|
|
|
Homework Answers
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The discount on bonds payable or premium on bonds payable is
shown on the balance sheet...
9. Which of the following is TRUE of a premium on bonds payable? A) A premium...
9. Which of the following is TRUE of a premium on bonds payable? A) A premium on bonds payable is added to the bonds payable balance and shown with long-term liabilities on the balance sheet B) A premium on bonds payable is added to the bonds payable balance and shown with stockholders' equity on the balance sheet. C) A premium on bonds payable is subtracted from the bonds payable balance and shown with long-term liabilities on the balance sheet. D)...
The balance in the Bonds Payable is a credit of $78,000. The balance in the Premium...
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...
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...
18( true or false) Caylng value on the balance sheet. C The unamortized Discount on Bonds...
18( true or false)
Caylng value on the balance sheet. C The unamortized Discount on Bonds Payable account is a contra - liability account. 18. The balance in Premium on Bonds Payable should be reported as a deduction from Pavable on the balance choot. 19.
On the balance sheet, the account Premium on Bonds Payable is: Select one: A. Added to...
On the balance sheet, the account Premium on Bonds Payable is: Select one: A. Added to Bond Interest Expense B. Deducted from Bond Interest Expense C. Added to Bonds Payable D. Deducted from Bonds Payable
On December 31, 2018, Country Living Sales has 10-year Bonds Payable of 589,000 and Discount on...
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
QUESTION 1 Bonds Payable has a balance of $1,000,000 and Discount on Bonds Payable has a...
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...
The year-end balance of the Premium on Bonds Payable is Group of answer choices deducted from...
The year-end balance of the Premium on Bonds Payable is Group of answer choices deducted from Bonds Payable on the balance sheet. shown on the income statement as an expense. shown on the income statement as a revenue. shown on the statement of cash flows as an operating activity. added to Bonds Payable on the balance sheet.
On the maturity date of bonds issued at a premium: A) the Premium on Bonds Payable...
On the maturity date of bonds issued at a premium: A) the Premium on Bonds Payable account is zero B) the carrying value of the bonds is greater than face value C) the carrying value of the bonds is less than face value D) both a and b are correct
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...
9. Which of the following is TRUE of a premium on bonds payable? A) A premium on bonds payable is added to the bonds payable balance and shown with long-term liabilities on the balance sheet B) A premium on bonds payable is added to the bonds payable balance and shown with stockholders' equity on the balance sheet. C) A premium on bonds payable is subtracted from the bonds payable balance and shown with long-term liabilities on the balance sheet. D)...
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...
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...
18( true or false)
Caylng value on the balance sheet. C The unamortized Discount on Bonds Payable account is a contra - liability account. 18. The balance in Premium on Bonds Payable should be reported as a deduction from Pavable on the balance choot. 19.
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
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...
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