Question: A. Bonds payable $155,000 will be listed as a long-term liability. A$1,000 discount on bonds payable will be listed as a contra current liability. B.
A. Bonds payable $155,000 will be listed as a long-term liability. A$1,000 discount on bonds payable will be listed as a contra current liability. B. Bonds payable $154,000 (net of $1,000 discount) will be listed as a long-term liability. C. Bonds payable $155,000 will be listed as a long-term liability. A$1,000 discount on bonds payable will be listed as a current liability. D. Bonds payable $155,000 will be listed as a long-term liability. Rodgers Financial's trial balance shows $155,000 face value of bonds with a discount balance of $1,000. The bonds mature in 10 years. How will the bonds be presented on the balance sheet? A. Bonds payable $155,000 will be listed as a long-term liability. A $1,000 discount on bonds payable will be listed as a contra current liability. B. Bonds payable $154,000 (net of $1,000 discount) will be listed as a long-term liability. C. Bonds payable $155,000 will be listed as a long-term liability. A$1,000 discount on bonds payable will be listed as a current liability. D. Bonds payable $155,000 will be listed as a long-term liability
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
