of b. 380,000 c. $160,000 d. $180,000 46. A S50,000 bond issue with a carrying v
ID: 2582936 • Letter: O
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of b. 380,000 c. $160,000 d. $180,000 46. A S50,000 bond issue with a carrying value of $47,000 is called at 102 and retired. Which statement is correct? a. Loss on Retirement of Bonds will be debited by $4,000 Bonds Payable is to be debited by $47,000 b. c. Gain on Retirement of Bonds is to be recorded at $3,000 d. Loss on Retirement of Bond is to be recorded for $1,000 47. When bonds are converted to common stock, which of the following could be part of th a. Credit to Gain on Conversion of Bonds b. Credit to Unamortized Bond Premium c. Credit to Unamortized Bond Discount d. Debit to Common Stock 48. The term deficit refers to a. an excess of expenses over revenues for one given operating period. b. a Retained Earnings account with a debit balance. c. an excess of actual expenses over amounts budgeted for those expenses. d. income of a prior period that was overstated when it was first reported.Explanation / Answer
46.Bonds Payable Account to be debited with 47000$
47.Credit to Unamortized Bond Premium
48.an excess of expenses over revenues for one given operating period.
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