51. The terms of the bond issue are set forth in a formal legal document called a bond indenture. 52. The carrying value of bonds at maturity should be equal to the face value of the bonds. ...

51. The terms of the bond issue are set forth in a formal legal document called a bond indenture.

52. The carrying value of bonds at maturity should be equal to the face value of the bonds.

53. Premium on Bonds Payable is a contra account to Bonds Payable.

54. When bonds are converted into common stock, the carrying value of the bonds is transferred to paid-in capital accounts.

55. Long-term liabilities are reported in a separate section of the balance sheet immediately following current liabilities.