A companys capital structure refers to:

• Its mixture of liabilities and stockholders equity.

• Its mixture of paid-in capital versus retained earnings.

• Its mixture of current versus long-term liabilities.

• Its mixture of current versus long-term assets.

Callable bonds:

• Provide potential benefits to both the issuer and the investor.

• Provide potential benefits to the investor.

• Provide no potential benefits.

• Provide potential benefits to the issuer.

Convertible bonds:

• Provide no potential benefits.

• Provide potential benefits only to the lender.

• Provide potential benefits only to the borrower.

• Provide potential benefits to both the lender and the borrower.

Bonds issued at a premium are:

• Riskier bonds sold at a bargain price.

• Issued at face value.

• Issued below face value.

• Issued above face value.

Douglas County Fairgrounds retires a $50 million bond issue when the carrying value of the bonds is $52 million, but the market value of the bonds is only $47 million. The entry to record the retirement will include:

• A credit of $5 million to gain on early extinguishment.

• A debit of $5 million to loss on early extinguishment.

• A debit to cash for $47 million.

• No gain or loss on retirement.