Answered: A company has bonds outstanding with a…

A company has bonds outstanding with a par value of $100,000. The unamortized discount on these bonds is $4,800. The company calls these bonds at a price of $98,000 the gain or loss on retirement is:

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter9: Current Liabilities And Contingent Obligations

Section: Chapter Questions

Problem 11GI

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Question

A company has bonds outstanding with a par value of $100,000. The unamortized discount on these bonds is $4,800. The company calls these bonds at a price of $98,000 the gain or loss on retirement is:

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