Chee purchases tan inc bonds for 108000 on january 2 2011

Reference no: EM13591946

Chee purchases Tan, Inc. bonds for $108,000 on January 2, 2011. The face value of the bonds is $100,000, the maturity date is December 31, 2015, and the annual interest rate is 6%. Chee will amortize the premium only if he is required to do so. Chee sells the bonds on July 1, 2013, for for $106,000.

a. Determine the interest income Chee should report for 2011.
b. Calculate Chee's recognized gain or loss on the sale of the bonds in 2013.Calculate Chee's recognized gain or loss on the sale of the bonds in 2013.

Reference no: EM13591946

Questions Cloud

An iron meteorite was analyzed for isotopic argon content : question an iron meteorite was analyzed for isotopic argon content. the amount of 36ar was 0.200mm3 stpper kg of

A 1885g solid sample containing some feso4 is dissolved in : a 1.885g solid sample containing some feso4 is dissolved in water. the resulting solution is acidified and titrated to

Federated company has two service departments s1 and s2 and : federated company has two service departments s1 and s2 and two producing departments a and b. department s1 serves

Didde co had 300000 shares of common stock issued and : didde co. had 300000 shares of common stock issued and outstanding at december 31 2010. no common stock was issued

Chee purchases tan inc bonds for 108000 on january 2 2011 : chee purchases tan inc. bonds for 108000 on january 2 2011. the face value of the bonds is 100000 the maturity date is

Identify the element of lowest atomic number whose electron : 1. identify the element of lowest atomic number whose electron configuration contains four completely filled

Purchased on credit space for classied advertisements in : sleek ride a company providing limo services has a december 31 year-end date. for sleek ride the following transactions

A 738 gram sample of caseo42h2o was heated thoroughly in a : a 73.8 gram sample of caseo42h2o was heated thoroughly in a porcelain crucible until its weight remained constant.

Kareem bought a rental house in october 2006 for 250000 of : kareem bought a rental house in october 2006 for 250000 of which 50000 is allocated to the land and 200000 to the

User Account

All Pages