22-25 together

Question 22 4pls (For questions 22-25). You can use a blank excel spreadsheet. SUB Is a 90% owned subsidiary of PAR. SUB Issued $100,000 of 8%, 5-year bonds for $96,110 on 1/1/2015, when the market rate was 9%. Annual interest is paid on 12/31/. PAR purchased the bonds on 1/1/2018, for $103,667, when the market rate was 6%. Both companies use the effective interest method to amortize the premium/disckunt on the bonds. Please round to the nearest dollar and mark the closest answer when you find a difference le.s.. less than 1 dollar value) between your calculation and choices. 22. How much gain or loss on retirement should be reported in 2018 consolidated statements? O 3,667 gain O 1,760 loss O 3,667 loss O 5,427 loss MacBook Air 00 loss O 3,667 loss O 5,427 loss D Question 23 4 pts 23. The net adjustment needed to consolidated income in the consolidation process for 2018 is: (hint: subsidiary income distribution schedule 2018) 2,622 increase 5,427 decrease 0 2,714 decrease O 2,805 decrease MacBook Air 2.714 decrease 2,805 decrease D Question 24 4 pts 24. The net adjustment needed to consolidated income in the consolidation process for 2019 is: (hint: subsidiary income distribution schedule 2019) O 2,805 increase O 2,714 increase 2,622 increase O 5,427 decrease MacBook Air O 2.714 Increase 2,622 Increase O 5,427 decrease D Question 25 4 pts 25. The elimination and adjustment process for 2018 consolidated statements include: Credit Bond Payable 100,000 Credit Gain 3,667 Credit Investment in Subsidiary Bond 101,887 o Credit Discount 1,760 MacBook Air Question 22 4pls (For questions 22-25). You can use a blank excel spreadsheet. SUB Is a 90% owned subsidiary of PAR. SUB Issued $100,000 of 8%, 5-year bonds for $96,110 on 1/1/2015, when the market rate was 9%. Annual interest is paid on 12/31/. PAR purchased the bonds on 1/1/2018, for $103,667, when the market rate was 6%. Both companies use the effective interest method to amortize the premium/disckunt on the bonds. Please round to the nearest dollar and mark the closest answer when you find a difference le.s.. less than 1 dollar value) between your calculation and choices. 22. How much gain or loss on retirement should be reported in 2018 consolidated statements? O 3,667 gain O 1,760 loss O 3,667 loss O 5,427 loss MacBook Air 00 loss O 3,667 loss O 5,427 loss D Question 23 4 pts 23. The net adjustment needed to consolidated income in the consolidation process for 2018 is: (hint: subsidiary income distribution schedule 2018) 2,622 increase 5,427 decrease 0 2,714 decrease O 2,805 decrease MacBook Air 2.714 decrease 2,805 decrease D Question 24 4 pts 24. The net adjustment needed to consolidated income in the consolidation process for 2019 is: (hint: subsidiary income distribution schedule 2019) O 2,805 increase O 2,714 increase 2,622 increase O 5,427 decrease MacBook Air O 2.714 Increase 2,622 Increase O 5,427 decrease D Question 25 4 pts 25. The elimination and adjustment process for 2018 consolidated statements include: Credit Bond Payable 100,000 Credit Gain 3,667 Credit Investment in Subsidiary Bond 101,887 o Credit Discount 1,760 MacBook Air