User Account

All Pages

Bond retirement-gain or loss

Assignment Help Accounting Basics
Reference no: EM13158469

On February 1, 2008, Pat Weaver Inc. (PWI) issued 10%, $1,000,000 bonds for $1,116,000. PWI retired all of these bonds on January 1, 2009, at 102. Unamortized bond premium on that date was $92,800. How much gain or loss should be recognized on this bond retirement?

Reference no: EM13158469

Questions Cloud

Knowledge of goodness : Take a position of Socrates' claim that knowledge of goodness is necessary to leading a "good" life, and that no one ever voluntarily chooses evil. Support your position with examples.
Why are you normally required to bind a service : What steps need to be taken by a network service to be ready to receive TCP/IP connections? Why are you normally required to bind a service to a specific port?
What is the total cost of producing units : A firm has a fixed cost of $200 in its first year of operation. When the firm produces 99 units of output, its total costs are $4,000. The marginal cost of producing the 100th unit of output is $700. What is the total cost of producing 100 units?
Analyze the direction of changes in monetary policy : The Effects of the Great Recession on the Central Banks Doctrine and Practice, critically and briefly analyze the direction of changes in monetary policy
Bond retirement-gain or loss : On February 1, 2008, Pat Weaver Inc. (PWI) issued 10%, $1,000,000 bonds for $1,116,000. PWI retired all of these bonds on January 1, 2009, at 102. Unamortized bond premium on that date was $92,800. How much gain or loss should be recognized on thi..
How much should he invest if the rate of interest : He will need to withdraw $12000 each year from the 21st to the 24th year of his son life. How much should he invest, if the rate of interest is 10% compounded annually?
Why is this beneficial to the paging algorithm : Why is this beneficial to the paging algorithm and the performance of the system?
Critcal essay-two works of literature : Write a critcal essay in which you discuss  TWO WORKS OF LITERATURE  you have read from the particular perspective of the statement that is provided for you in the critical lens essay.
Does this make economic sense : Does this make economic sense? Explain the rationale behind equal prices for unequal distances in air travel using supply, demand, and cost curves.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Rate of return on common stockholders equity

Jennifer Company reports the following amounts for 2010: Net income $135,000 Average stockholder's equity 500,000 Preferred dividends 35,000 Par value preferred stock 100,000 The 2010 rate of return on common stockholders' equity is ?

  Joint costs using different methods

ED Products Corp. chooses to process the butter further into spreadable butter by mixing it with canola oil, incurring an additional cost of $1.60 per pound. This process results in two tubs of spreadable butter for each pound of butter processed...

  Accounting for business activities

Which of the following is a true statement about accounting for business activities?

  Charitable contribution in excess

For purposes of determining current E&P, which of the following items cannot be deducted in the year incurred?

  What is the effect on the free cash flows for 2005

Now FASB required that all employee stock options should be expensed on income statement. On Jan. 2005, AA company granted total $100,000 (fair value) of stock options to the employee.

  Club account for the decline in value

Club Co. appropriately uses the equity method to account for its investment in Chip Corp. As of the end of 2008, Chip's common stock had suffered a significant decline in fair value, which is expected to be recovered over the next several months. ..

  Dividends and net income

Use the following information and the percent-of-sales method to answer questions. For consistency with the Answer selections provided, please round your forecast percentages to two decimals.)

  Business analysis and financial reporting

What is shareholder's equity, how is it calculated, and where and how is it reported? What is comprehensive income and how does it influence equity? What happens to shareholder's equity when the firm issues more shares or buys back shares in the o..

  Equation of profit and loss

A company grosses $100 million per year and shows a 12 percent profit. It hires a security director, a security staff, and security equipment, which costs the company $2 million per year but reduces its losses, or "shrinkage," from 9 percent to 5 ..

  What was the actual price per pound of the iron

For 2009, PMD Inc. had set the following standards for production of metal tables: 35 pounds of iron at a standard cost of $2.60 per pound. During June the company produced 300 tables. The company bought 10, 625 pounds of iron at a cost of $25,500..

  Choose the correct answer from the statements below

Three potential investments projects (A, B, and C) at Clouse Corporation all require the same initial investment, have the same useful life (three years), and have no expected salvage value

  How many shares of common stock were issued during 2010?

a. How many shares of common stock were issued during 2010? What was their average issue price?  b. How many shares of preferred stock were issued during 2010? What was their average issue price?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd