Question
Please help me solve this i am having a hard time understanding this. On its December 31,2024 balance sheet, wildhorse corp reported bonds payable of
Please help me solve this i am having a hard time understanding this.
On its December 31,2024 balance sheet, wildhorse corp reported bonds payable of 6120000. The bonds had been issued at par. On january 2, 2025, Wildhorse retired $3060000 of the outstanding bonds at par plus a call premium of $75000. What amount should Wildhorse report in its 2025 income statement as a loss on extinguishment of debt?
- $37500
- $75000
- $0
- $30600
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Intermediate Accounting principles and analysis
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
2nd Edition
471737933, 978-0471737933
