A $200,000 Bond Issue with a Carrying Value of $206,000

question 112

Multiple Choice

A $200,000 bond issue with a carrying value of $206,000 is called at 101 and retired.The entry to record the retirement of bonds would be:

• A) Bonds Payable 202,000
• Loss on Retirement of Bonds 4,000
• Cash 206,000
• B) Bonds Payable 200,000
• Unamortized Bond Premium 6,000
• Cash 202,000
• Gain on Retirement of Bonds 4,000
• C) Bonds Payable 200,000
• Loss on Retirement of Bonds 6,000
• Cash 206,000
• D) Bonds Payable 206,000
• Cash 206,000

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Definitions:

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