9. In the statement of financial position of Kansas, Inc. as of December 31, 2011, the accounts in the image appear. Interest is payable semiannually on January 1 and July 1. On January 1, 2012, Kansas, Inc. redeemed the bonds at 96 plus accrued interest. How much is the gain (or loss) on the redemption of the bonds? * 18% Bonds payable, due January 1, 2013 P1,000,000 Premium on bonds payable 70,000 Accrued interest on bonds payable 90,000 а. Р40,000 O b. P(40,000) О с. Р110,000 O d. P(110,000)

9. In the statement of financial position of Kansas, Inc. as of December 31, 2011, the accounts in the image appear. Interest is payable semiannually on January 1 and July 1. On January 1, 2012, Kansas, Inc. redeemed the bonds at 96 plus accrued interest. How much is the gain (or loss) on the redemption of the bonds? * 18% Bonds payable, due January 1, 2013 P1,000,000 Premium on bonds payable 70,000 Accrued interest on bonds payable 90,000 а. Р40,000 O b. P(40,000) О с. Р110,000 O d. P(110,000)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 4EA: On January 1, 2018, Wawatosa Inc. issued 5-year bonds with a face value of $200,000 and a stated...

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