1. How are bonds payable usuaily classitied on the balance sheete a. Current Liabilities b. Long-Term Liabilities c. Investment and funds d. Other assets On Januarys 1, Year 1, Williams Corporation issued $200,000 of callable bonds at face value. The bonds carried a 2% call premium (102%). If williams calls the bonds, how would this event affect the company's accounting equation? 2. a. b. c. d. Decrease stockholder's equity by $4,000 Decrease liabilities by $200,000 Decrease assets by $204,000 All of the above are correct