Determine the gain or loss on the retirement, Accounting Basics

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Determine the gain or loss on the retirement

A company has bonds outstanding with a par value of $100,000. The unamortized discount on these bonds is $4,500. The company retired these bonds by buying them on the open market at 97. What is the gain or loss on this retirement?

1. $0 gain or loss

2. $1,500 gain

3. $1,500 loss

4. $3,000 gain

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Accounting Basics: Determine the gain or loss on the retirement

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Accounting Basics: Determine the gain or loss on the retirement

Reference No:- TGS090572

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Inventory management systems

Q : Bondholders for each semiannual interest payment

Q : Create balanced transportation problem-minimize daily cost

Q : Compute the break-even point in dollars

Q : Determine the gain or loss on the retirement

Q : What percentage of parts not meet the weight specification

Q : Determine the variable cost per haircut and the total cost

Q : What is the contribution margin per unit of limited resource

Q : Compute consolidated buildings at date of acquisition

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Determine the gain or loss on the retirement

Reference No:- TGS090572

Recent Questions Asked Accounting Basics

Q : Inventory management systems

Q : Bondholders for each semiannual interest payment

Q : Create balanced transportation problem-minimize daily cost

Q : Compute the break-even point in dollars

Q : Determine the gain or loss on the retirement

Q : What percentage of parts not meet the weight specification

Q : Determine the variable cost per haircut and the total cost

Q : What is the contribution margin per unit of limited resource

Q : Compute consolidated buildings at date of acquisition

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