On December 31,2013,Peterson Sales Has a Bonds Payable Balance of $40,000

question 92

Multiple Choice

On December 31,2013,Peterson Sales has a bonds payable balance of $40,000 and a premium on bonds payable of $900.On the balance sheet,how will this information be shown?

• A) $40,000 less premium of $900 for a net balance of $39,100
• B) $40,000 less one-tenth of $900 for a net balance of $39,910
• C) $40,000 only
• D) $40,000 plus a premium of $900 for a net balance of $40,900

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Definitions:

New Products

Goods, services, or technologies that have been recently developed and introduced to the market.

Long-Run Supply Curve

A graphical representation showing the relationship between the price of a good and the total output produced by firms in the market over a long period, assuming input factors are variable.

Upward-Sloping

Refers to a line on a graph that demonstrates an increase in value on the vertical axis as the value on the horizontal axis increases; typically related to supply curves in economics.