On February 1, 2020, Pat Weaver Inc. (PWI) issued 11%, $1,800,000 bonds for $2,100,000. PWI retired...
On February 1, 2020, Pat Weaver Inc. (PWI) issued 7%, $1,600,000 bonds for $1,900,000. PWI retired all of these bonds on January 1, 2021, at 104. Unamortized bond premium on that date was $166,400. How much gain or loss should be recognized on this bond retirement? Multiple Choice $112,000 gain. $0 gain. $102,400 gain. $133,000 gain.
On February 1, 2017, Pat Weaver Inc. (PWI) issued 9%, $1,900,000 bonds for $2,200,000. PWI retired all of these bonds on January 1, 2018, at 103. Unamortized bond premium on that date was $195,700. How much gain or loss should be recognized on this bond retirement? Multiple Choice $171,000 gain. Ο $138,700 gain. Ο Ο $0 gain. Ο $198,000 gain.
On February 1, 2020, Pat Weaver Inc. (PWI) issued 10%, $1,000,000 bonds for $1,116,000. PWI retired all of these bonds on January 1, 2021, at 102. Unamortized bond premium on that date was $92,800. How much gain or loss should be recognized on this bond retirement? $96,000 gain. $111,800 gain. $72,800 gain. $0 gain.
Saved Help am #1 On February 1, 2020, Pat Weaver Inc. (PWI) issued 9%, $1,100,000 bonds for $1.400,000. PWI retired all of these bonds on January 1, 2021, at 105. Unamortized bond premium on that date was $115,500. How much gain or loss should be recognized on this bond retirement? Multiple Choice $126,000 gain. O $99,000 gain $60,500 gain
Saved 10 On February 1, 2020, Pat Weaver Inc. (PWI) issued 9%, $1,100,000 bonds for $1,400,000. PWI retired all of these bonds on January 1, 2021, at 105. Unamortized bond premium on that date was $115,500. How much gain or loss should be recognized on this bond retirement? Multiple Choice $126,000 gain. $99,000 gain. $60,500 gain. $0 gain.
On February 1, 2017, Pat Weaver Inc. (PWI) issued 10%, $1,000,000 bonds for $1,116,000. PWI retired all of these bonds on January 1, 2018, at 102. Unamortized bond premium on that date was $92,800. How much gain or loss should be recognized on this bond retirement? rev: 02_22_2018_QC_CS-119332
4. On September 1, 2020, GE retired a 3,000,000 Bond issue at 103. The Bonds had an 8% Stated Rate of Interest, a 10 year maturity, and paid interest Semi-Annually. At the time of the Bond Retirement, Unamortized Bond Issue Costs were $15,000, and Unamortized Premium on Bonds Payable was $40,000. Prepare the journal entry to record the Bond Retirement on September 1, 2020.
A corporation issued 8% bonds with a par value of $1,190,000, receiving a $58.000 premium. On the interest date 5 years later, after the bond interest was paid and after 40% of the premium had been amortized, the corporation purchased the entire issue on the open market at 99 and retired it. The gain or loss on this retirement is: Multiple Choice o o o О 6200 gain o o st 900 gain
53. A company issued $2,000,000, 5 years, 10% bonds, receiving $1,800,000 in cash on January 1, 2019. On January 1, 2021 after the bond interest payment was made, the company purchased 20% of the bond issue on the open market at 110 and retired them. Prepare the journal entry to record the retirement of these bonds. (5 points) Debit Credit Description Date
MSG Corporation issued $100,000 of 3-year, 6% bonds outstanding on December 31, 2020 for $106,000. The bonds pay interest annually and MSG uses straight-line amortization. On May 1, 2021, $10,000 of the bonds were retired at 112. As a result of the retirement, MSG will report: Multiple Choice a $600 loss. a $667 loss. a $1,200 loss. a $1,200 gain.