Business, 24.05.2021 20:10 kuadirkennedy
On January 1, 2020, Perkins Incorporated issued 2,000 of its 9%, $1,000 bonds for $2,048,000. Bond issue costs were $12,000. These bonds were to mature on January 1, 2030 but were callable at 103 any time after December 31, 2023. Interest was payable semi-annually on July 1 and January 1. On May 1, 2024, Perkins called all the bonds and retired them with interest. Perkins uses the straight-line method for amortization of bond premiums and discounts. Assuming all previous entries have been properly recorded, Perkins will record the following gain or loss on the bond retirement:
a. $211,000
b. $200,000
c. $206,000
d. $201,000
e. none of above
Answers: 1
Another question on Business
Business, 21.06.2019 19:30
Clonex labs, inc., uses the weighted-average method in its process costing system. the following data are available for one department for october: percent completed units materials conversion work in process, october 1 53,000 90 % 65 % work in process, october 31 29,000 74 % 52 % the department started 381,000 units into production during the month and transferred 405,000 completed units to the next department. required: compute the equivalent units of production for october.
Answers: 2
Business, 22.06.2019 01:00
Bond x is noncallable and has 20 years to maturity, a 7% annual coupon, and a $1,000 par value. your required return on bond x is 10%; if you buy it, you plan to hold it for 5 years. you (and the market) have expectations that in 5 years, the yield to maturity on a 15-year bond with similar risk will be 9.5%. how much should you be willing to pay for bond x today? (hint: you will need to know how much the bond will be worth at the end of 5 years.) do not round intermediate calculations. round your answer to the nearest cent.
Answers: 3
Business, 22.06.2019 11:20
Camilo is a self-employed roofer. he reported a profit of $30,000 on his schedule c. he had other taxable income of $5,000. he paid $3,000 for hospitalization insurance. his self-employment tax was $4,656. he paid his former wife $4,000 in court-ordered alimony and $4,000 in child support. what is the amount camilo can deduct in arriving at adjusted gross income (agi)?
Answers: 2
Business, 22.06.2019 16:50
Andrea cujoli is a currency speculator who enjoys "betting" on changes in the foreign currency exchange market. currently the spot price for the japanese yen is ¥129.87/$ and the 6-month forward rate is ¥128.53/$. andrea would earn a higher rate of return by buying yen and a forward contract than if she had invested her money in 6-month us treasury securities at an annual rate of 2.50%. true/false?
Answers: 2
You know the right answer?
On January 1, 2020, Perkins Incorporated issued 2,000 of its 9%, $1,000 bonds for $2,048,000. Bond i...
Questions
History, 10.03.2020 00:37
