An investment in bonds with a book value of $125,700 is sold for $132,000. The gain or loss on the sale of the bond investments is: A. loss of $6,300 B. gain of $6,300 C. loss of $125,700 D. gain of $132,000
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- Need help with this financial accounting questionBonds Payable has a balance of $908,000 and Premium on Bonds Payable has a balance of $9,988. If the issuing corporation redeems the bonds at 102, what is the amount of gain or loss on redemption? a.$8,172 gain b.$9,988 loss c.$9,988 gain d.$8,172 lossBonds Payable has a balance of $896,000 and Premium on Bonds Payable has a balance of $9,856. If the issuing corporation redeems the bonds at 103, what is the amount of gain or loss on redemption? a.$9,856 loss b.$17,024 loss c.$9,856 gain d.$922,880 gain
- Bonds Payable has a balance of $1,184,000 and Discount on Bonds Payable has a balance of $11,840. If the issuing corporation redeems the bonds at 97.5, what is the amount of gain or loss on redemption? a. $17,760 loss b. $11,840 loss c. $11,840 gain Od. $17,760 gainWhat is the net cash received over the life of the bond investment?Bonds Payable has a balance of $987,000 and Premium on Bonds Payable has a balance of $10,857. If the issuing corporation redeems the bonds at 102, what is the amount of gain or loss on redemption? Select the correct answer. a-$10,857 loss b-$8,883 gain c-$10,857 gain d-$8,883 loss
- Consolidated amounts when affiliate's debt is acquired from non-affiliate Assume that a Parent company owns 100 percent of its Subsidiary. On January 1, 2019, the Parent company had $360,000 of bonds payable (par) outstanding with a carrying value of $378,000. The bonds were originally issued to an unaffiliated company. On that same date, the Subsidiary acquired the bonds for $356,400. During 2019, the Parent company reported $162,000 of (pre-consolidation) income from its own operations (i.e., prior to any equity method adjustments by the Parent company) and after recording interest expense. The Subsidiary reported $90,000 of (pre-consolidation) income from its own operations after recording interest income. Related to the bonds during 2019, the parent reported interest expense of $40,500 while the subsidiary reported interest income of $36,900. Determine the following amounts that will appear in the 2019 consolidated income statement: Note: If no amount will appear on the…VikrambahiBonds Payable has a balance of $951,000 and Discount on Bonds Payable has a balance of $11,412. If the issuing corporation redeems the bonds at 98, what is the amount of gain or loss on redemption? a.$7,608 loss b.$7,608 gain c.$11,412 gain d.$11,412 loss
- Bonds Payable has a balance of $880,000 and Premium on Bonds Payable has a balance of $9,680. If the issuing corporation redeems the bonds at 102, what is the amount of gain or loss on redemption? Oa. $7,920 loss Ob. $9,680 gain Oc. $7,920 gain Od. $9,680 lossA long-term investment in bonds with a cost of $80,000 was sold for $75,000 cash. What was the gain or loss on the sale? Group of answer choices $5,000 loss on sale of investment $75,000 gain on sale of investment No gain or loss on sale of investment $5,000 gain on sale of investmentA bond is issued at a price of 103 and retired early at aprice of 97. Which of the following is true?a. A gain will be reported on the income statement whenthe bond is issued.b. A loss will be reported on the income statement whenthe bond is issued.c. A gain will be reported on the income statement whenthe bond is retired.d. A loss will be reported on the income statement whenthe bond is retired.