Exercise 14-12 On January 2, 2012, Headland Corporation issued $2,150,000 of 10% bonds at 98 due...
Exercise 14-12 On January 2, 2012, Headland Corporation issued $2,150,000 of 10% bonds at 98 due December 31, 2021.
Interest on the bonds is payable annually each December 31. The discount on the bonds is also being amortized on a straight-line basis over the 10 years. (Straight-line is not materially different in effect from the preferable “interest method”.) The bonds are callable at 101 (i.e., at 101% of face amount), and on January 2, 2017, Headland called $1,290,000 face amount of the bonds and redeemed them. Ignoring income taxes, compute the amount of loss, if any, to be recognized by Headland as a result of retiring the $1,290,000 of bonds in 2017. (Round answer to 0 decimal places, e.g. 38,548.) Loss on redemption
| Loss on redemption | $ |
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Exercise 14-12 On January 2, 2012, Headland Corporation issued
$2,150,000 of 10% bonds at 98 due...
On January 2, 2015, Marin Corporation issued $2,150,000 of 10% bonds at 98 due December 31,...
On January 2, 2015, Marin Corporation issued $2,150,000 of 10%
bonds at 98 due December 31, 2024. Interest on the bonds is payable
annually each December 31. The discount on the bonds is also being
amortized on a straight-line basis over the 10 years.
(Straight-line is not materially different in effect from the
preferable “interest method.”)
The bonds are callable at 101 (i.e., at 101% of face amount), and
on January 2, 2020, Marin called $1,290,000 face amount of the...
Exercise 14-12 On January 2, 2012, Waterway Corporation issued $1,100,000 of 10% bonds at 98 due December 31, 2021. Inte...
Exercise 14-12
On January 2, 2012, Waterway Corporation issued $1,100,000 of
10% bonds at 98 due December 31, 2021. Interest on the bonds is
payable annually each December 31. The discount on the bonds is
also being amortized on a straight-line basis over the 10 years.
(Straight-line is not materially different in effect from the
preferable “interest method”.)
The bonds are callable at 101 (i.e., at 101% of face amount), and
on January 2, 2017, Waterway called $660,000 face amount...
Exercise 14-12 On January 2, 2012, Martinez Corporation issued $1,550,000 of 10 % bonds at 98...
Exercise 14-12 On January 2, 2012, Martinez Corporation issued $1,550,000 of 10 % bonds at 98 due December 31, 2021. Interest on the bonds is payable annually each December 31. The discount on the bonds is also being amortized on a straight-line basis over the 10 years. (Straight-line is not materially different in effect from the preferable "interest method") The bonds are callable at 101 (.e., at 101 % of face amount), and on January 2, 2017, Martinez called $930,000...
On January 2, 2012, Concord Corporation issued $2,250,000 of 10% bonds at 98 due December 31,...
On January 2, 2012, Concord Corporation issued $2,250,000 of 10%
bonds at 98 due December 31, 2021. Interest on the bonds is payable
annually each December 31. The discount on the bonds is also being
amortized on a straight-line basis over the 10 years.
(Straight-line is not materially different in effect from the
preferable “interest method”.)
The bonds are callable at 102 (i.e., at 102% of face amount), and
on January 2, 2017, Concord called $1,350,000 face amount of the...
Exercise 14-12 On January 2, 2015, Sunland Corporation issued $1,850,000 of 10% bonds at 96 due...
Exercise 14-12 On January 2, 2015, Sunland Corporation issued $1,850,000 of 10% bonds at 96 due December 31, 2024. Interest on the bonds is payable annually each December 31. The discount on the bonds is also being amortized on a straight-line basis over the 10 years. (Straight-line is not materially different in effect from the preferable “interest method.”) The bonds are callable at 101 (i.e., at 101% of face amount), and on January 2, 2020, Sunland called $1,110,000 face amount...
On January 2, 2015, Flint Corporation issued $1,750,000 of 10% bonds at 98 due December 31,...
On January 2, 2015, Flint Corporation issued $1,750,000 of 10% bonds at 98 due December 31, 2024. Interest on the bonds is payable annually each December 31. The discount on the bonds is also being amortized on a straight-line basis over the 10 years. (Straight-line is not materially different in effect from the preferable “interest method.”) The bonds are callable at 101 (i.e., at 101% of face amount), and on January 2, 2020, Flint called $1,050,000 face amount of the...
Exercise 14-12 On January 2, 2015, Stellar Corporation issued $1,550,000 of 10% bonds at 98 due...
Exercise 14-12
On January 2, 2015, Stellar Corporation issued $1,550,000 of 10%
bonds at 98 due December 31, 2024. Interest on the bonds is payable
annually each December 31. The discount on the bonds is also being
amortized on a straight-line basis over the 10 years.
(Straight-line is not materially different in effect from the
preferable “interest method.”)
The bonds are callable at 101 (i.e., at 101% of face amount), and
on January 2, 2020, Stellar called $930,000 face amount...
On January 2, 2015, Metlock Corporation issued $1,550,000 of 10% bonds at 98 due December 31,...
On January 2, 2015, Metlock Corporation issued $1,550,000 of 10% bonds at 98 due December 31, 2024. Interest on the bonds is payable annually each December 31. The discount on the bonds is also being amortized on a straight-line basis over the 10 years. (Straight-line is not materially different in effect from the preferable "interest method.") The bonds are callable at 101 (i.e., at 101% of face amount), and on January 2, 2020, Metlock called $930,000 face amount of the...
On January 2, 2015, Shamrock Corporation issued $1,350,000 of 10% bonds at 99 due December 31,...
On January 2, 2015, Shamrock Corporation issued $1,350,000 of 10% bonds at 99 due December 31, 2024. Interest on the bonds is payable annually each December 31. The discount on the bonds is also being amortized on a straight-line basis over the 10 years. (Straight-line is not materially different in effect from the preferable “interest method.”) The bonds are callable at 102 (i.e., at 102% of face amount), and on January 2, 2020, Shamrock called $810,000 face amount of the...
On January 2, 2015, Concord Corporation issued $1,700,000 of 10% bonds at 97 due December 31,...
On January 2, 2015, Concord Corporation issued $1,700,000 of 10% bonds at 97 due December 31, 2024. Interest on the bonds is payable annually each December 31. The discount on the bonds is also being amortized on a straight-line basis over the 10 years. (Straight-line is not materially different in effect from the preferable “interest method.”) The bonds are callable at 102 (i.e., at 102% of face amount), and on January 2, 2020, Concord called $1,020,000 face amount of the...
On January 2, 2015, Marin Corporation issued $2,150,000 of 10%
bonds at 98 due December 31, 2024. Interest on the bonds is payable
annually each December 31. The discount on the bonds is also being
amortized on a straight-line basis over the 10 years.
(Straight-line is not materially different in effect from the
preferable “interest method.”)
The bonds are callable at 101 (i.e., at 101% of face amount), and
on January 2, 2020, Marin called $1,290,000 face amount of the...
Exercise 14-12
On January 2, 2012, Waterway Corporation issued $1,100,000 of
10% bonds at 98 due December 31, 2021. Interest on the bonds is
payable annually each December 31. The discount on the bonds is
also being amortized on a straight-line basis over the 10 years.
(Straight-line is not materially different in effect from the
preferable “interest method”.)
The bonds are callable at 101 (i.e., at 101% of face amount), and
on January 2, 2017, Waterway called $660,000 face amount...
Exercise 14-12 On January 2, 2012, Martinez Corporation issued $1,550,000 of 10 % bonds at 98 due December 31, 2021. Interest on the bonds is payable annually each December 31. The discount on the bonds is also being amortized on a straight-line basis over the 10 years. (Straight-line is not materially different in effect from the preferable "interest method") The bonds are callable at 101 (.e., at 101 % of face amount), and on January 2, 2017, Martinez called $930,000...
On January 2, 2012, Concord Corporation issued $2,250,000 of 10%
bonds at 98 due December 31, 2021. Interest on the bonds is payable
annually each December 31. The discount on the bonds is also being
amortized on a straight-line basis over the 10 years.
(Straight-line is not materially different in effect from the
preferable “interest method”.)
The bonds are callable at 102 (i.e., at 102% of face amount), and
on January 2, 2017, Concord called $1,350,000 face amount of the...
Exercise 14-12
On January 2, 2015, Stellar Corporation issued $1,550,000 of 10%
bonds at 98 due December 31, 2024. Interest on the bonds is payable
annually each December 31. The discount on the bonds is also being
amortized on a straight-line basis over the 10 years.
(Straight-line is not materially different in effect from the
preferable “interest method.”)
The bonds are callable at 101 (i.e., at 101% of face amount), and
on January 2, 2020, Stellar called $930,000 face amount...
On January 2, 2015, Metlock Corporation issued $1,550,000 of 10% bonds at 98 due December 31, 2024. Interest on the bonds is payable annually each December 31. The discount on the bonds is also being amortized on a straight-line basis over the 10 years. (Straight-line is not materially different in effect from the preferable "interest method.") The bonds are callable at 101 (i.e., at 101% of face amount), and on January 2, 2020, Metlock called $930,000 face amount of the...
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