25.1 A five-year term bond was issued on January 1, 2022, at a premium. The carrying amount of the bond on December 31, 2023, would be a. Higher than the carrying amount on January 1, 2022 b. Lower than the carrying amount on December 31, 2024 c. Higher than the carrying amount on December 31, 2024 d. The same as the carrying amount on January 1, 2022
25.1 A five-year term bond was issued on January 1, 2022, at a premium. The carrying amount of the bond on December 31, 2023, would be a. Higher than the carrying amount on January 1, 2022 b. Lower than the carrying amount on December 31, 2024 c. Higher than the carrying amount on December 31, 2024 d. The same as the carrying amount on January 1, 2022
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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25.1 A five-year term bond was issued on January 1, 2022, at a premium. The carrying amount of the bond on December 31, 2023, would be
a. Higher than the carrying amount on January 1, 2022
b. Lower than the carrying amount on December 31, 2024
c. Higher than the carrying amount on December 31, 2024
d. The same as the carrying amount on January 1, 2022
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