FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

At December 31, 2020 the following balances existed on the books of Vaughn Manufacturing: Bonds Payable $7130000 Discount on Bonds Payable 981000 Interest Payable 168000

At December 31, 2020 the following balances existed on the books of Vaughn Manufacturing:

Bonds Payable $7130000
Discount on Bonds Payable 981000
Interest Payable 168000

If the bonds are retired on January 1, 2021, at 103, what will Vaughn report as a loss on redemption?

A. $1362900

B. $713000

C. $1194900

D. $958000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting Tools For Business Decision Making

Managerial Accounting Tools For Business Decision Making

Authors: Weygandt, Kimmel, Kieso

4th Edition

0470478535, 978-0470478530

More Books

Students also viewed these Accounting questions

Question

★★★★★
The load resistance RL in Fig. 11.51 is adjusted until it absorbs the maximum average power. Calculate the value of RL and the maximum average power. 440

Answered: 1 week ago

Question

★★★★★
You conduct a class project in which you divide classmates into seven pairs; each pair consists of a shy student and an outgoing student. You have each pair of students work on a puzzle but do not...

Answered: 1 week ago

Question

★★★★★
Assume that X has a b(n, p) distribution. If it is known that the mean of X is 6 and its standard deviation is 2, then the values of n and p are (a) n = 18, p = 23 (b)n = 9, p = 23 (c)n = 18, p = 13...

Answered: 1 week ago

Question

★★★★★
On January 1, 2010, Crouser Company sold land to Chad Company, accepting a two-year, $150,000 non-interest-bearing note due January 1, 2012. The fair value of the land was $123,966.90 on the date of...

Answered: 1 week ago

Question

★★★★★
algorithm and data structure final exam

Answered: 1 week ago

Question

★★★★★
You're hiring staff members for a medical practice. You've conducted the interviews and chosen a candidate who you think would be a good fit for the position. What should you do next? Question 18...

Answered: 1 week ago

Question

★★★★★
Brad is a gymnast and generally consumes about 2,000 kcal per day. To help him maintain optimal performance, about how many Calories in his diet should come from fat? Group of answer choices no more...

Answered: 1 week ago

Question

★★★★★
What does the subnet mask 255.255.255.0 tell a router? A. The next hop in the network route B. What the MAC address of a host is C. Which part of an IP address is the subnet ID and which is the...

Answered: 1 week ago

Question

★★★★★
Suppose twin cities memorial hospital has issued tax exempt bonds that have an interest rate of 6 percent. with all else the same, should camila buy the hca healthcare of the twin cities bonds.?

Answered: 1 week ago

Question

★★★★★
Control: On a monthly basis, each component controller performs a comparison of operating results to budget amounts for their respective component. Variances in excess of US$25,000 are investigated....

Answered: 1 week ago

Question

★★★★★
12. Prepare a Double Column Cash Book from the following with Cash & Bank Column. 2022 Jan. 1 Jan. 4 Balance in hand 6,000 and overdraft at Bank 7,000 Received a cheque from Avinash and Co. for goods...

Answered: 1 week ago

Question

★★★★★
To what extent do you adopt a questioning and an evaluative approach when you are reading? How successful are you at making explicit the underlying theories and assumptions in what you read? If you...

Answered: 1 week ago

Question

★★★★★
What percentage of your final mark is allocated to your literature review? What sort of word length is expected? To what extent are academic articles and books expected?

Answered: 1 week ago

Question

★★★★★
What user-name and passwords do you need and where can you get them?

Answered: 1 week ago

Previous Question Next Question