Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 10 - Reporting and Analyzing Liabilities - Exercises: E10-12

Answer

Step1: 2010 June. 30 Bonds payable 140,000 dollars Loss on redemption of bonds payable 20,300 dollars Cash 142,800 dollars Discount on Bonds payable 17,500 dollars Step2: June. 30 Bond Payable 170,000 dollars Premium on bonds payable 14,000 dollars Cash 166,600 dollars Gain on redemption of bonds payable 17,400 dollars

Work Step by Step

Step1: To record redemption of bonds payable Step2: To record redemption of bonds payable
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