On December 1, 2017, Cone Company issued its 9%, $450,000 face value bonds for $520,000, plus accrued interest. Interest is payable on November 1 and May 1. On December 31, 2019, the book value of the bonds, inclusive of the unamortized premium, was $480,000. On July 1, 2020, Cone reacquired the bonds at 99 plus accrued interest. Cone appropriately uses the straight-line method for the amortization because the results do not materially differ from those of the effective interest method. Requirement: Book value of bonds on December 1, 2017 _______ Book value of bonds on December 31, 2019 _______ Amortization for 25 months _______ Monthly amortization _______ Book value of bonds on December 31, 2019 ________ Amortization for January 1 to July 1, 2020 ________ Book value of bonds on July 1, 2020 ________ Cost of reacquisition ________ Gain on bond redemption

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A: Investment means an asset purchased in expectation of earning a return on such investment in future…

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A: Formula: Adjusted unamortized bond premium at December 31, 2009 = Total bond premium - Amortization…

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A: Par value of bonds =$200000Issue price of bonds =$191000Discount on issuance of bonds…

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A: Discount on bonds payable is first calculated which is the difference of Bonds par value and the…

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A: The bonds are the financial instruments that are issued to raise the funds from the market or…

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A: Dear student, we can not solve more than three sub-parts of a question if a question has more than…

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.