Each of the following accounts is reported as long-term liabilities except
A) Bond Interest Payable.
B) Bonds Payable.
C) Discount on Bonds Payable.
D) Premium on Bonds Payable.

Question

Quizplus · Accepted Answer

Bond interest payable is reported as a current liability since it represents the interest amount that is due within the next twelve months. The other options, Bonds Payable, Discount on Bonds Payable, and Premium on Bonds Payable are all reported as long-term liabilities since they represent the principal amount of the bond that is due beyond the next twelve months.

Each of the Following Accounts Is Reported as Long-Term Liabilities