[hopeful_cpa]

Whats the question here?

A 15-year bond was issued in 2002 at a discount. The fair value option was not elected to value financial liabilities. During 2011 a 10-year bond was issued at face amount with the proceeds used to retire the 15-year bond at its face amount. The net effect of the 2011 bond transactions was to increase long-term liabilities by the excess of the 10-year bond’s face amount over the 15-year bonds.

A. Face amount.

B. Carrying amount.

C. Face amount less the deferred loss on bond retirement.

D. Carrying amount less the deferred loss on bond retirement.

BEC: Done
REG: Done
AUD: Done
FAR: Done

I'M DONE!!!!!! AAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[rb81490]

where di u get this question from?

[hopeful_cpa]

@rb81490

Wiley online test bank.

BEC: Done
REG: Done
AUD: Done
FAR: Done

I'M DONE!!!!!! AAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[Anonymous]

The bond was originally issued at a discount.

The same bond was retired at face amount.

What's the difference between those two amounts?

The discount.

And what's that?

The difference between the face amount and the carrying amount

[Author]

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