Business, 20.11.2019 22:31 margaretjloah12
1. a company issued 5-year, 7% bonds with a par value of $600,000. the market rate when the bonds were issued was 6.5%. the company received $606,000 cash for the bonds. using the straight-line method, the amount of recorded interest expense for the first semiannual interest period is: $21,000, $20,400, $42,000, $21,600, $41,400.
2. a company has bonds outstanding with a par value of $100,000. the unamortized discount on these bonds is $5,100. the company retired these bonds by buying them on the open market at 91. what is the gain or loss on this retirement? $3,900 gain, $3,900 loss, $0 gain or loss, $9,000 gain, $9,000 loss.
3. a corporation issued 8% bonds with a par value of $1,190,000, receiving a $58,000 premium. on the interest date 5 years later, after the bond interest was paid and after 40% of the premium had been amortized, the corporation purchased the entire issue on the open market at 99 and retired it. the gain or loss on this retirement is: $0, $11,900 gain, $11,900 loss, $46,700 gain, $46,700 loss.
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1. a company issued 5-year, 7% bonds with a par value of $600,000. the market rate when the bonds we...
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