Mandel Corp B) C) D)

question 50

Multiple Choice

Mandel Corp. retired bonds payable with a carrying value of $980,000. What effect does this transaction have on these accounts?

• A) \[\begin{array} { | l | l | l | }
• \hline \text { Total Assets } & \text { Total Liabilities } & \text { Shareholders' Equity } \\
• \hline \text { Decrease by } \$ 980,000 & \text { Increase by } \$ 980,000 & \text { No effect } \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | l | l | }
• \hline \text { Total Assets } & \text { Total Liabilities } & \text { Shareholders' Equity } \\
• \hline \text { Decrease by } \$ 980,000 & \text { Decrease by } \$ 980,00 & \text { No effect } \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | l | l | l | }
• \hline \text { Total Assets } & \text { Total Liabilities } & \text { Shareholders' Equity } \\
• \hline \text { Increase by } \$ 980,000 & \text { Decrease by } \$ 980,000 & \text { Increase by } \$ 980,000 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | l | l | }
• \hline \text { Total Assets } & \text { Total Liabilities } & \text { Shareholders' Equity } \\
• \hline \text { No effect } & \text { No effect } & \text { Decrease by } \$ 980,000 \\
• \hline
• \end{array}\]

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Definitions:

Central Nervous

Refers to the central nervous system, which is comprised of the brain and spinal cord, controlling most functions of the body and mind.

Peripheral Nervous

The part of the nervous system that consists of the nerves and ganglia outside of the brain and spinal cord, responsible for connecting the central nervous system (CNS) to limbs and organs.

Intravenous Injection

The administration of liquid substances directly into a vein through a syringe, allowing for rapid absorption into the bloodstream.

Xenophobic

Having an intense or irrational dislike or fear of people from other countries.