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What investment in bond account and bond payable account are

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Problem 1: When amortizing the bond discount or premium, the ________ method produces fairly easy amortization calculations, whereas, when a company uses the ________ method, the calculations become more complex, but the concepts remain the same.

A. straight-line; effective interest

B. straight-line; straight-line

C. effective interest; effective interest

D. effective interest; straight-line

Problem 2: When a wholly-owned subsidiary purchases all of the bonds issued by the parent, the investment in bonds account and bond payable account are

A. reported on the subsidiary's balance sheet.

B. reported on the parent's balance sheet.

C. not reported in the consolidated financial statements and also not reported in the separate-entity financial statements.

D. reported on the respective separate-entity balance sheets.

Reference no: EM132630713

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