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

Question

1 Approved Answer

At the end of 2021, Crane Company purchased 6000, $1000, 9% bonds. The carrying value of the bonds at December 31, 2021 was $5929500. The

At the end of 2021, Crane Company purchased 6000, $1000, 9% bonds. The carrying value of the bonds at December 31, 2021 was $5929500. The bonds mature on March 1, 2026, and pay interest on March 1 and September 1. Crane sells 3000 bonds on September 1, 2022, for $2988000, after the interest has been received. Crane uses straight-line amortization. The gain on the sale is

A) 23250

B) 17610

C) 0

D) 28890

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

HRD Score Card 2500 Based On HRD Audit

HRD Score Card 2500 Based On HRD Audit

Authors: T V Rao

1st Edition

ISBN: 8178298368, 978-8178298368

More Books

Students also viewed these Accounting questions

Question

★★★★★
What are the dangers associated with taking an old contract and merely changing the name of the supplier for use in a new, three-year contract with a different supplier?

Answered: 1 week ago

Question

★★★★★
The switch in Figure P723 has been in positionAfor a long time and is moved to position B at t 0. Find iL(t) for t 0. 100 B w t=0 iL(t) www A + 10 100 mH 15 V 000 FIGURE P7-23

Answered: 1 week ago

Question

★★★★★
The article Attachment Styles in Children of Middle Childhood, explores the various attachment styles found in children of 8 to 12 years old, including secure, anxious-resistant, anxious-avoidant,...

Answered: 1 week ago

Question

★★★★★
Planning and control decisions. Conner Company makes and sells brooms and mops. It takes the following actions, not necessarily in the order given below. For each action (ae below,) state whether it...

Answered: 1 week ago

Question

★★★★★
At the end of 2021, Crane Company purchased 6000, $1000, 9% bonds. The carrying value of the bonds at December 31, 2021 was $5929500. The bonds mature on March 1, 2026, and pay interest on March 1...

Answered: 1 week ago

Question

★★★★★
Compare and contrast different types of social engineering techniques as well as its vulnerabilities and Attacks and its Understanding

Answered: 1 week ago

Question

★★★★★
Differentiate 3sin(9x+2x)

Answered: 1 week ago

Question

★★★★★
Compute the derivative f(x)=(x-a)(x-b)

Answered: 1 week ago

Question

★★★★★
The following fact pattern applies to questions 1 and 2. Brigid entered into a contract with L. Marcus Marine ("LMM") to perform repairs and updates to her sailboat for $15,000. The work was to be...

Answered: 1 week ago

Question

★★★★★
An SLA manager compares the usage of a system against: Question 1Select one: a. A pay-per-use measurement repository b. An SLA monitor agent c. A quality-of-service measurement repository d. A...

Answered: 1 week ago

Question

★★★★★
What are cafeteria plans? What is one advantage and one disadvantage to these plans? Would you want to participate in this type of healthcare plan?

Answered: 1 week ago

Question

★★★★★
What is the difference between training and professional development? Describe your training and professional development experiences that were motivating or not motivating to you.

Answered: 1 week ago

Question

★★★★★
Discuss the role labor unions have in the nursing sector of health care. Do you know any nurses who belong to a union?

Answered: 1 week ago

Previous QuestionNext Question