Question
On February 1, 2015, Pat Weaver Inc. (PWI) issued 8%, $2,000,000 bonds for $2,300,000. PWI retired all of these bonds on January 1, 2016, at
On February 1, 2015, Pat Weaver Inc. (PWI) issued 8%, $2,000,000 bonds for $2,300,000. PWI retired all of these bonds on January 1, 2016, at 103. Unamortized bond premium on that date was $206,000. How much gain or loss should be recognized on this bond retirement?
A. $146,000 gain.
B. $160,000 gain.
C. $184,000 gain.
D. $0 gain.
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Accountants Guide To Fraud Detection And Control
Authors: Howard R. Davia, Patrick C. Coggins, John C. Wideman, Joseph T. Kastantin
2nd Edition
0471353787, 9780471353782
