The Balance in the Bonds Payable Account Is a Credit

question 127

True/False

The balance in the Bonds payable account is a credit of $50,000.The balance in the Discount on bonds payable account is a debit of $1,500.The bond carrying amount is $51,500.

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Definitions:

Service Revenue

Income earned by a company for the services it provides to its customers.

Stockholders' Equity

The residual interest in the assets of a corporation that remains after deducting its liabilities, often referred to as shareholders' equity.

Dividends

Funds disbursed by a corporation to its shareholders, often derived from the corporation's earnings.

Revenues

The income generated from normal business operations, typically from the sale of goods and services to customers.