Bonds payable should be reported on the balance sheet at face value plus or minus any unamortized premium or discount.

Question

Quizplus · Accepted Answer

Bonds payable are reported at face value on the balance sheet, but if the bonds were issued at a premium or discount, that amount must be amortized over the life of the bond and the balance sheet will reflect the net carrying amount (face value + unamortized premium or face value - unamortized discount) of the bonds.

Bonds Payable Should Be Reported on the Balance Sheet at Face