Question
On July 1, 2017, Adams Company has bonds with balances as shown below. Bonds Payable _________I__65,000________ (credit balance of 65,000) Premium on Bonds Payable (credit
On July 1, 2017, Adams Company has bonds with balances as shown below.
Bonds Payable
_________I__65,000________
| (credit balance of 65,000) | |
| Premium on Bonds Payable
| |||
If the company retires the bonds for $69,150, what will be the effect on the income statement?
A. loss on retirement of $450
B. gain on retirement of $450
C. gain on retirement of $8,750
D. loss on retirement of $8,750
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Information Systems Control And Audit
Authors: Et Al. Hyo-Jeong Kim, Michael Mannino, Compiled By Koros Press Editorial Board
1st Edition
