What would be the amount appearing on the December 31,2009 Consolidated Statement of Financial Position for bonds payable?

Question

Quizplus · Accepted Answer

The amount appearing on the December 31, 2009 Consolidated Statement of Financial Position for bonds payable is calculated as follows:

Bonds payable as of January 1, 2009: $200,000
Add: Bonds issued on July 1, 2009: $40,000
Total bonds payable: $240,000
Less: Bonds retired on September 30, 2009: $4,000
Bonds payable as of December 31, 2009: $236,000

Therefore, the correct answer is B.

What Would Be the Amount Appearing on the December 31,2009