Gain or loss on transaction

Assignment Help Accounting Basics

Reference no: EM13151030

A bond issued with a face value of $200,000 and a carrying amount of $195,500 is paid off at 98 1/2 and retired. The gain or loss on this transaction is:

A) $3,000 loss

B) $1,500 loss

C) $1,500 gain

D) $3,000 gain

Reference no: EM13151030

Questions Cloud

Information about the operations for rim and tip : Does not include TIP results. Includes cost of goods sold1. Compute operating income for RIM and TIP, separately, and the total operating income for both.2. If the results in part 1 for TIP are typical, why do you believe RIM decided to sell..

What is the mass of the iron : A foundry worker throws a hot, freshly cast piece of iron into 10 liters (10 kg) of water to cool off. The initial temperature of the water is 25 degree celcius and the initial temperature of the iron is 100 degree celsius.

Direct labor and time rate variances : Brass Works, Inc. produces brass lamps and gift products. Engineers at Brass Works have established the following direct labor standards to produce a brass candelabra:

How should manufacurer respond to this competitive threat : How should the manufacurer respond to this competitive threat? Suggest at least two alternatives.

Gain or loss on transaction : A bond issued with a face value of $200,000 and a carrying amount of $195,500 is paid off at 98 1/2 and retired. The gain or loss on this transaction is:

Which would have more accessory pigments : Which would have more accessory pigments: A plant living on the floor of a rainforest or one of the trees which gets full sun at the top of the canopy?

Distribution makes matter of how to teach very tricky : Bimodal distribution with a very large standard deviation for the population. For most teachers such a distribution makes the matter of how to teach very tricky.

How could the manufacturer induce its retailer to carry : The manufacturer's managers are convinced that they could make more sales if they could convince the retailers to carry a full line of products. How could the manufacturer induce its retailer to carry a fuller line of products

What type of genetic testing is worthwhile : With the completion of the human genome and the identification of various genes, it may be possible to determine whether an individual has a particular disease.

User Account

All Pages