Signify YES or NO as applicable for each of the following situations to indicate whether the...

Signify YES or NO as applicable for each of the following situations to indicate whether the situation would result in the net book value of bonds payable EQUALING the balance of the bonds payable ledger account.

- A. B.	The bonds were issues at face value.
- A. B.	The bonds were issued at a premium.
- A. B.	The bonds were issued at a premium, and the premium is fully amortized.
- A. B.	The bonds were issued at a discount.
- A. B.	The bonds were issued at a discount, and the discount is fully amortized.
- A. B.	The bonds have matured and are paid off.

Expert Solution

The bonds were issues at face value.	Yes	The carrying value of a bond is equal to the bond payable when the bond was issued at par
The bonds were issued at a premium.	No	When a bond is issued at a premium, the carrying value is higher than the face value of the bond payable
The bonds were issued at a premium, and the premium is fully amortized.	Yes	The carrying value of a bond issued at premium is equal to the bond payable at maturity
The bonds were issued at a discount.	No	When a bond is issued at a discount, the carrying value is lower than the face value of the bond payable
The bonds were issued at a discount, and the discount is fully amortized.	Yes	The carrying value of a bond issued at discount is equal to the bond payable at maturity
The bonds have matured and are paid off.	Yes	The carrying value of a bond is equal to the bond payable when the bonds are matured

ekkarill92 answered 1 year ago

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