The following items are found in the financial statements. Indicate how each of these items should be classified in the financial statements. Classification (a) Discount on bonds payable. select a financial statement Balance SheetIncome statement (b) Interest expense (credit balance). select a financial statement Balance SheetIncome statement (c) Unamortized bond issue costs. select a financial statement Balance SheetIncome statement (d) Gain on repurchase of debt. select a financial statement Balance SheetIncome statement (e) Mortgage payable (payable in equal amounts over next 3 years). select a financial statement Balance SheetIncome statement (f) Debenture bonds payable (maturing in 5 years). select a financial statement Balance SheetIncome statement (g) Notes payable (due in 4 years). select a financial statement Balance SheetIncome statement (h) Premium on bonds payable. select a financial statement Balance SheetIncome statement (i) Bonds payable (due in 3 years). select a financial statement Balance SheetIncome statement

The following items are found in the financial statements. Indicate how each of these items should be classified in the financial statements. Classification (a) Discount on bonds payable. select a financial statement Balance SheetIncome statement (b) Interest expense (credit balance). select a financial statement Balance SheetIncome statement (c) Unamortized bond issue costs. select a financial statement Balance SheetIncome statement (d) Gain on repurchase of debt. select a financial statement Balance SheetIncome statement (e) Mortgage payable (payable in equal amounts over next 3 years). select a financial statement Balance SheetIncome statement (f) Debenture bonds payable (maturing in 5 years). select a financial statement Balance SheetIncome statement (g) Notes payable (due in 4 years). select a financial statement Balance SheetIncome statement (h) Premium on bonds payable. select a financial statement Balance SheetIncome statement (i) Bonds payable (due in 3 years). select a financial statement Balance SheetIncome statement

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter6: Building And Maintaining Good Credit

Section6.2: Three Ways To Set Your Own Debt Limit

Problem 1CC

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The following items are found in the financial statements.

Indicate how each of these items should be classified in the financial statements.

		Classification
(a)	Discount on bonds payable.	select a financial statement Balance SheetIncome statement
(b)	Interest expense (credit balance).	select a financial statement Balance SheetIncome statement
(c)	Unamortized bond issue costs.	select a financial statement Balance SheetIncome statement
(d)	Gain on repurchase of debt.	select a financial statement Balance SheetIncome statement
(e)	Mortgage payable (payable in equal amounts over next 3 years).	select a financial statement Balance SheetIncome statement
(f)	Debenture bonds payable (maturing in 5 years).	select a financial statement Balance SheetIncome statement
(g)	Notes payable (due in 4 years).	select a financial statement Balance SheetIncome statement
(h)	Premium on bonds payable.	select a financial statement Balance SheetIncome statement
(i)	Bonds payable (due in 3 years).	select a financial statement Balance SheetIncome statement

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