Question 1: To calculate the carrying value of a bond you ___________.

a: Bonds payable less premium

b: Bonds Payable plus premium

C: Bonds payable less discount

d: Both B and C

Question 2: If the Carrying value of the bond is greater than the amount paid to redeem the bond (the proceeds), you have a

a: Gain on early redemption of bonds

b: Loss on early redemption of bonds

Question 3: A Gain on early redemption of bonds has a normal

A. Debit balance

B: Credit balance

Question 4: A loss on early redemption of bonds has a normal

A. Debit balance

B: Credit balance