Using the Following Accounts

question 127

Short Answer

Using the following accounts:
Indicate the account(s) to be debited and credited to record the following transactions.
-Accrued interest on bonds which sold at face value.
Debit ________ Credit ________
A)Cash
B)Bond Sinking fund
C)Equipment
D)Building
E)Land
F)Accounts payable
G)Notes payable
H)Bond payable
I)Bond interest payable
J)Premium on bonds payable
K)Discount on bonds payable
L)Common stock
M)Retained earnings
N)Sinking fund earned
O)Bond interest expense
P)Gain on retirement
Q)Loss on retirement

• A)Cash
• B)Bond Sinking fund
• C)Equipment
• D)Building
• E)Land
• F)Accounts payable
• G)Notes payable
• H)Bond payable
• I)Bond interest payable
• J)Premium on bonds payable
• K)Discount on bonds payable
• L)Common stock
• M)Retained earnings
• N)Sinking fund earned
• O)Bond interest expense
• P)Gain on retirement
• Q)Loss on retirement

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Definitions:

Shaded Portion

The part of a diagram or graph that is marked with a pattern or color to indicate it is different from the rest, often related to probability, geometry, or statistics.

Total Area

The entire surface area of a two-dimensional shape or the combined surface areas of all faces of a three-dimensional object.

Ratio

The quantitative relation between two amounts, showing the number of times one value is contained within the other.

Average Cost Function

A function that calculates the total cost of producing goods divided by the quantity of goods produced.