A $100,000 Bond Issue with a Carrying Value of $94,000

question 55

Multiple Choice

A $100,000 bond issue with a carrying value of $94,000 is called at 102 and retired.The entry to record the retirement of bonds would be:

• A) Bonds Payable 100,000
• Loss on Retirement of Bonds 8,000
• Unamortized Bond Discount 6,000
• Cash 102,000
• B) Bonds Payable 94,000
• Cash 94,000
• C) Bonds Payable 100,000
• Gain on Retirement of Bonds 6,000
• Cash 94,000
• D) Bonds Payable 100,000
• Loss on Retirement of Bonds 2,000
• Cash 102,000

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Definitions:

Relational Aggression

A form of aggression that harms others through manipulation or damage to relationships rather than physical violence.

Ego-oriented Competition

A form of competition where the emphasis is on individual performance and outperforming others, with self-esteem often tied to the outcome.

Task-oriented Competition

Competitive situations where the focus is on the achievement of a specific goal or the completion of a task, rather than winning against others.

Nonhostile Social Comparison

The act of comparing oneself to others in a way that is not antagonistic or envious, often for self-evaluation.