Five Thousand Bonds with a Face Value of $1000 Each

question 217

Multiple Choice

Five thousand bonds with a face value of $1000 each are sold at 102.Recording the issuance includes a(n)

• A)Increase to Cash and an increase to Bonds Payable for $5100000.
• B)Increase to Cash for $5000000 a decrease to Premium on Bonds Payable for $100000 and an increase to Bonds Payable for $5100000.
• C)Increase to Cash for $5100000 and an increases to Premium on Bonds Payable for $100000 and to Bonds Payable for $5000000.
• D)Increase to Cash for $5100000 a decrease to Discount on Bonds Payable for $100000 and an increase to Bonds Payable for $5000000.

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Definitions:

Clayton Act

An antitrust law enacted in the United States in 1914, aimed at preventing anti-competitive practices and monopolies.

Sherman Antitrust Act

A foundational piece of U.S. legislation passed in 1890 aimed at preventing anti-competitive practices, monopolies, and fostering fair competition in the marketplace.

Supreme Court

The highest judicial court in a country or state, which typically has the final say in legal disputes.

Antitrust Cases

Legal disputes that arise when businesses are accused of practices that limit competition, aiming to protect consumers and ensure a fair marketplace.