Author Question: Refunding bonds were issued by an Enterprise Fund with a face value of 15,000,000 at a 1 discount. ... (Read 262 times)

abern

  • Hero Member
  • *****
  • Posts: 533
Refunding bonds were issued by an Enterprise Fund with a face value of 15,000,000 at a 1 discount. Issuance costs were 225,000 . The entry to record the issuance of the refunding bonds would be
   Debit Credit
 
  A. Cash
  Expenditures
  Other Financing Uses  Discount
   Other Financing Sources  Bonds 14,625,000
  225,000
  150,000
 
  15,000,000
  B. Cash
  Expenditures
   Other Financing Sources  Bonds 14,625,000
  225,000
 
  14,850,000
  C. Cash
  Unamortized Deferred Charges/Discount
   Bond Payable 14,625,000
  375,000
 
  15,000,000
  D. Cash
  Bond Issuance Expense
  Unamortized Discount
   Bonds Payable 14,625,000
  225,000
  150,000
 
  15,000,000

Question 2

Deferrals are recorded transactions that delay the recognition of an expense or revenue.
 a. True
  b. False
 
   Indicate whether the statement is true or false



leannegxo

  • Sr. Member
  • ****
  • Posts: 374
Answer to Question 1

D

Answer to Question 2

True



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

For a complete list of videos, visit our video library