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Category > Accounting Posted 25 Apr 2017 My Price 5.00

Bond Retirement

Bond Retirement

e10A. Freed Corporation has outstanding $800,000 of 8 percent bonds callable at 104. On September 1, immediately after recording the payment of the semiannual interest and the amortization of the discount, the unamortized bond discount equaled $21,000. On that date, $480,000 of the bonds was called and retired.

1.    How much cash must be paid to retire the bonds?

2.    Is there a gain or loss on retirement, and if so, how much is it?

 

 

Answers

Alpha Geek
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Status NEW Posted 25 Apr 2017 06:04 PM My Price 5.00

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Attachments

file 1493146931-bond retirement.xlsx preview (132 words )
Fr-----------eed----------- Co-----------rpo-----------rat-----------ion----------- ha-----------s o-----------uts-----------tan-----------din-----------g $-----------800-----------,00-----------0 o-----------f 8----------- pe-----------rce-----------nt -----------bon-----------ds -----------cal-----------lab-----------le -----------at -----------104-----------. O-----------n S-----------ept-----------emb-----------er -----------1, -----------imm-----------edi-----------ate-----------ly -----------aft-----------er -----------rec-----------ord-----------ing----------- th-----------e p-----------aym-----------ent----------- of----------- th-----------e s-----------emi-----------ann-----------ual----------- i-----------nte-----------res-----------t a-----------nd -----------the----------- am-----------ort-----------iza-----------tio-----------n o-----------f t-----------he -----------dis-----------cou-----------nt,----------- th-----------e u-----------nam-----------ort-----------ize-----------d b-----------ond----------- di-----------sco-----------unt----------- eq-----------ual-----------ed -----------$21-----------,00-----------0.O-----------n t-----------hat----------- da-----------te,----------- $4-----------80,-----------000----------- of----------- th-----------e b-----------ond-----------s w-----------as -----------cal-----------led----------- an-----------d r-----------eti-----------red-----------.1.----------- Ho-----------w m-----------uch----------- ca-----------sh -----------mus-----------t b-----------e p-----------aid----------- to----------- re-----------tir-----------e t-----------he -----------bon-----------ds?-----------Val-----------ue -----------of -----------Bon-----------ds -----------Cal-----------led----------- an-----------d R-----------eti-----------red-----------Cal-----------lab-----------le -----------Pri-----------ceC-----------ash----------- Pa-----------id -----------to -----------Ret-----------ire----------- th-----------e B-----------ond-----------s
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