true or falseHomework Answers
FALSE
Because Premium on Bonds Payable is an account with credit balance on the Balance Sheet.
Its the excess amount received by the company on issue of bonds.
So, journal entry is
Cash Debit $110,000
Bonds Payable Credit $100,000
Premium on Bonds Payable Credit $10,000
So, on Balance Sheet, it will be:
Bonds Payable $100,000
Premium on Bonds Payable $10,000 $110,000
Add Answer to:
true or false
19. The balance in Premium on Bonds Payable should be reported as a...
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...
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.
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.
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...
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)...
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
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
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
True or False... The current portion of notes payable must be reported on the balance sheet...
True or False... The current portion of notes payable must be reported on the balance sheet combined with the long-term portion under long-term liabilities
True or False... The current portion of notes payable must be reported on the balance sheet...
True or False... The current portion of notes payable must be reported on the balance sheet combined with the long-term portion under long-term liabilities
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...
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.
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.
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...
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)...
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
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
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