Is the normal account balance for the Bonds Payable account a debit or a credit? Explain.Balances Of Accounts:When trying to master the concept of debits and credits in accounting one must first understand and
determine the payable unpaid interest, credit "interest payable" course, according to the difference, debit or credit this course (interest). For servicing the debt at a time, should be in the balance sheet date by the amortized cost and actual interest rate of bond interest expense, de...
Bonds Payable had a credit balance of $10,000,000 Bond Discount had a debit balance of $240,000 Bond Issue Costs had a debit balance of $130,000 The book value (or carrying value) of the bonds payable at December 31 was $9,630,000. Related Questions What is book value? Where is...
When is bonds payable a debit or credit? Where does sales revenue go on a balance sheet? Where does an investment account on a chart of accounts go? Where do employee salaries go on an income statement? Where does an asset show on a balance sheet?
1. Decrease in bonds payable (liability): debit 2. Increase in gain on early extinguishment of debts (gain): credit 3. Since the entity was able to pay only $90,000 in cash to pay off $92,000 bonds payab...
Our Explanation of Bonds Payable covers the recording of bonds, the accrual of interest expense, and the amortization of the discount and premium on bonds payable. You gain an understanding on why the market value of existing bonds will change in the opp
(1) Debit: cash 636000 Credit: Bonds payable 600000 Premium on bonds payable 36000 (2) Debit: Interest Expenses 28302 Premium on bonds payable 198 Credit: Cash 28500 (3) Debit: Interest Expenses 14137 Premium on bonds payable 113 Credit: Interest payable 14250反馈...
1〕全对4分,〔2〕全对5分,〔3〕全对6分〔1〕 Debit: cash 636000Credit: Bonds payable 600000Premium on bonds payable 36000〔2〕 Debit: Interest Expenses 28302Premium on bonds payable 198Credit: Cash 28500〔3〕 Debit: Interest Expenses 14137Premium on bonds payable 113Credit: Interest payable ...
BondsPayable10,000 Dec. 31 InterestExpense($10,0000×10%×½) 500 Cash 500 Semiannualinterestpayment June30InterestExpense($10,000×10%× 1 / 12 ) 500 Cash 500 Semiannualinterestpayment* Whenthebondmatures,theprincipalrepaymentis recordedasfollows: Date AccountTitleand DescriptionRef.DebitCredit ...
37、onDebitCreditAmortization of a Bond DiscountInterest Expense6,359.70Discount on Bonds Payable359.70Cash6,000.00Jan. 1Issued 12%, five-year bonds at a discount.The straight-line method amortizes bond discount in equal periodic amounts. Cash96,406Discount on Bonds Payable3,594Bonds Payable100,...