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Q: A bond sinking fund investment is started on January 5, 2010, by transferring $10,000 in cash to the fund. This $10,000 is invested and earns $1,100 during 2010. The entry to record the earnings made
on the sinking fund investment includes (Points : 5) a) a debit to Cash for $1,100 and a credit to Income from Sinking Fund Investment for $1,100. b) a debit to Cash for $1,100 and a credit to Bond Sinking Fund Investment for $1,100. c) a debit to Bond Sinking Fund Investment for $1,100 and a credit to Income from Sinking Fund Investment for $1,100. d) a debit to Cash for $1,100 and a credit to Interest Income for $1,100.
A: The entry to record the earnings made on the sinking fund investment includes a) a debit to Cash for $1,100 and a credit to Income from Sinking Fund Investment for $1,100.
Expert answered|OxTornado007|Points 5428|
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Asked 9/17/2012 12:47:53 PM
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Questions asked by the same visitor
3. When bonds mature, a corporation will pay the bondholders (Points : 5) a) the current market value of the bonds. b) the face amount plus the original premium or minus the original discount. c) the face amount plus the interest accrued since the date the bonds were issued. d) the face amount of the bonds.
Weegy: When bonds mature, a corporation will pay the bondholders b) the face amount plus the original premium or minus the original discount. (More)
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Expert Answered
Updated 9/17/2012 12:50:57 PM
1 Answer/Comment
When bonds mature, a corporation will pay the bondholders the face amount of the bonds.
Added 9/17/2012 12:51:02 PM
This answer has been confirmed as correct and helpful.
Confirmed by andrewpallarca [7/31/2014 12:33:05 PM]
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