Using the Following Accounts

question 90

Short Answer

Using the following accounts:
Indicate the account(s) to be debited and credited to record the following transactions.
-Deposited cash in a bond sinking fund.
Debit ________ Credit ________
A)Cash
B)Bond Sinking fund
C)Equipment
D)Building
E)Land
F)Accounts payable
G)Notes payable
H)Bond payable
I)Bond interest payable
J)Premium on bonds payable
K)Discount on bonds payable
L)Common stock
M)Retained earnings
N)Sinking fund earned
O)Bond interest expense
P)Gain on retirement
Q)Loss on retirement

• A)Cash
• B)Bond Sinking fund
• C)Equipment
• D)Building
• E)Land
• F)Accounts payable
• G)Notes payable
• H)Bond payable
• I)Bond interest payable
• J)Premium on bonds payable
• K)Discount on bonds payable
• L)Common stock
• M)Retained earnings
• N)Sinking fund earned
• O)Bond interest expense
• P)Gain on retirement
• Q)Loss on retirement

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Definitions:

Marginal Value Curve

The marginal value curve represents how the value of the last unit consumed (marginal value) changes as the quantity consumed increases.

Marginal Expenditure

The extra expense that results from acquiring or making an additional unit of a product or service.

Monopsony Power

A situation in the marketplace where a single buyer confronts numerous sellers, granting this buyer a substantial influence over pricing.

Buyer Interaction

The dynamics and exchanges between buyers in a market, which can influence price, demand, and supply conditions.