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( Part A, Part B, Part C, and Part D) Im having trouble with this four part problem on accounting. If anyone get help me
( Part A, Part B, Part C, and Part D) Im having trouble with this four part problem on accounting. If anyone get help me with this question this will be greatly appreciated. Please make sure its correct because I'm trying to learn from this. The couple of times I've posted this in the past they have been wrong. Again, please make sure it's correct and box the final answer. Thank you
Part A
Part B
Part C
Part D
If there is a gain on bonds redeemed early, the bonds' carrying value was greater than the redemption price. a. b. loss is debited to Interest Expense, as a cost of financing. c. loss is debited directly to Retained Earnings. bonds' carrying value was less than the redemption price. d. On January 1, 2019, HK Corp. paid $800,000 for 100,000 shares of Jackie Company's common stock, which represents 30% of Jackie's outstanding common stock. Jackie reported net income of $50,000 and paid cash dividends of $6,000 during 2019. HK should report the investment in Jackie Company on its December 31, 2019, balance sheet at: $813,200 a. b. $809,500 c. $825,000 $800,000 d. On January 1, 2021, $3,000,000, 5-year, 10% bonds, were issued for $2,860,000. Interest is paid annually on January 1. If the issuing corporation uses the straight-line method to amortize discount on bonds payable, the amortization amount per year is $28,000. a. $32,000. O b. $14,000. $36,500. If the market rate of interest is 10% and the stated rate on the bond is 8%, the bond will sell at: a. par a premium b. O c. a discount d. below market rateStep by Step Solution
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