Answer Happy

Tony Hawk's Adventure (THA) issued callable bonds on January 1, 2021. THA's accountant has projected the following amortization schedule from issuance until maturity: Interest Expense Increase in Carrying Value Cash Paid Date 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 06/30/2023 12/31/2023 $14,000 14,000 14,000 14,000 14,000 14,000 $16,612 16, 742 16,879 17,023 17,175 17,334 $2,612 2,742 2,879 3,023 3,175 3,334 Carrying Value $332, 235 334, 847 337,589 340, 468 343,491 346,666 350,000 THA buys back the bonds for $335,329 immediately after the interest payment on 12/31/2021 and retires them. What gain or loss, if any, would THA record on this date? Multiple Choice No gain or loss. $14,671 gain.
12/31/2023 14,000 17,334 3,334 350,000 THA buys back the bonds for $335,329 immediately after the interest payment on 12/31/2021 and retires them. What gain or loss, if any, would THA record on this date? Multiple Choice No gain or loss. $14,671 gain. $3,094 loss. $2,260 gain.