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Home Q & A Board Other Fields Homework Help Business Accounting
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wiliam789 wiliam789
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Posts: 308
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5 years ago
On July 1, 2017, Adams Company has bonds with balances as shown below.

  Bonds Payable
65,000


Premium on Bonds Payable
4,600


If the company retires the bonds for $69,150, what will be the effect on the income statement?
A) gain on retirement of $8,750
B) loss on retirement of $8,750
C) gain on retirement of $450
D) loss on retirement of $450
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
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jayfo05jayfo05
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#1
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5 years ago
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wiliam789 Author
wrote...
#2
5 years ago
White Heavy Checkmark Correct!
wrote...
#3
3 years ago
thanks
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