accounting

Bonds Payable has a balance of $900,000 and Premium on Bonds Payable has a balance of $10,000. If the issuing corporation redeems the bonds at 103, what is the amount of gain or loss on redemption?

  1. 👍
  2. 👎
  3. 👁

Respond to this Question

First Name

Your Response

Similar Questions

  1. math

    Given is the Income Statement for the year ended December 31, 2015, Statement of Retained Earnings for the year ended December 31, 2015 and Comparative Balance Sheets for 2014 and 2015 of Maris Corporation: Maris Corporation

  2. Intermediate Accounting

    The 10% bonds payable of Klein Company had a net carrying amount of $570,000 on December 31, 2006. The bonds, which had a face value of $600,000, were issued at a discount to yield 12%. The amortization of the bond discount was

  3. accounting

    On April 25, 2010, Bullseye Company purchased all of the outstanding common stock of Vista Company, paying $14,000,000. The book values and fair values of Vista's assets and liabilities acquired are shown below in dollar amounts:

  4. Accounting

    Could someone please look this over and tell me if I have this correct? I am not confident in the Trial Balance. May 1 Cash 101 25,000 Common Stock 311 25,000 3 Supplies 126 2,500 Accounts Payable 201 2,500 7 Rent Expense 729 900

  1. Economics

    If 10-year T-bonds have a yield of 5.2%, 10-year corporate bonds yield 7.5%, the maturity risk premium on all 10-year bonds is 1.1%, and corporate bonds have a 0.2% liquidity premium versus a zero liquidity premium for T-bonds,

  2. accounting URGENT HELP DUE IN 1HR

    (a) Fill in the missing amounts. (If answer is zero, please enter 0. Do not leave any fields blank.) Account Titles Trial Balance Adjusted Trial Balance Dr. Cr. Dr. Cr. Accounts Receivable 34,000 Prepaid Insurance 26,000 20,000

  3. accounting

    On December 31, 2013, a company issues bonds with a par value of $600,000. The bonds mature in 10 years, and pay 6% annual interest, payable each June 30 and December 31. The bonds sold at $592,000. The company uses the

  4. Accounting

    The comparative statements of Lucille Company are presented here. LUCILLE COMPANY Income Statements For the Years Ended December 31 First number are 2012 2012 then 2011 Net sales $1,890,540 $1,750,500 Cost of goods sold 1,058,540

  1. accounting

    Cash $40,000 Accounts receivable $120,000 Inventory $300,000 Prepaid rent $2,000 Accounts payable $150,000 Salaries payable $7,000 Long-term bonds payable $200,000 The selected accounts above are from TJ Supply’s balance sheet.

  2. Financial Management

    I need to fill in the blanks on my income statement/balance sheet. Here is the information given: The following data pertain to Pavilion Products Inc. (PPI): PPI has outstanding debt in the form of accounts payable, 6-month notes

  3. finance

    he bonds issued by Stainless Tubs bear a 6 percent coupon, payable semiannually. The bonds mature in 11 years and have a $1,000 face value. Currently, the bonds sell for $989. What is the yield to maturity?

  4. Accounting

    ____ 2. As part of the initial investment, Omar contributes accounts receivable that had a balance of $25,000 in the accounts of a sole proprietorship. Of this amount, $1,150 is completely worthless. For the remaining accounts,

You can view more similar questions or ask a new question.