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answerhappygod
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please help me
please help me
On 2018-06-01, ABC had outstanding 6%, $10000 face value bonds maturing on 2027-04-01. Interest was payable semiannually every Jun 1 and Dec 1. On 2018-06-01, after amortization was recorded for the period, the unamortized bond discount and bond issuance costs were $120 and $200, respectively. On that date, ABC acquired all its outstanding bonds on the open market at 102 percent of par (face) and retired them. On 2018-06-01 ABC should recognize the following as gain/(loss) before income taxes on redemption of bonds: Answer:
On 2018-06-01, ABC had outstanding 6%, $10000 face value bonds maturing on 2027-04-01. Interest was payable semiannually every Jun 1 and Dec 1. On 2018-06-01, after amortization was recorded for the period, the unamortized bond discount and bond issuance costs were $120 and $200, respectively. On that date, ABC acquired all its outstanding bonds on the open market at 102 percent of par (face) and retired them. On 2018-06-01 ABC should recognize the following as gain/(loss) before income taxes on redemption of bonds: Answer: