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please solve questions 1 0 & 2 9 10 Skipped $7,000 10 $ 7,000 $ 6,253 103,465 102,673 101,833 100,943 100,000 Shaun White Adventure Company
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10 Skipped $7,000 10 $ 7,000 $ 6,253 103,465 102,673 101,833 100,943 100,000 Shaun White Adventure Company (SWAC) issued callable bonds on January 1. 2024. SWACs accountant has projected the following amortization schedule Date 01/01/2024' 06/30/2024 12/31/2024 06/30/2025 12/31/2025 06/30/2026 12/31/2026 Cash Paid 7,000 7,000 7,000 7,000 7,000 Interest Increase in Carrying Expen se Carrying Value Value $7,790 7,822 7,855 7,889 7,925 7,961 $790 822 855 889 925 961 $194,758 195,548 196,370 197 ,225 198,114 199,039 200,000 SWAC buys back the bonds for $196,000 immediately after the interest payment on 12/31/2024 and retires them. What gain or loss. if any. would SWAC record on this date? Multiple Choice o O O No gain or loss $370 qain $4,000 gain $1.242 loss 29 X2 issued callable bonds on January 1, 2024. The bonds pay interest annually on December 31 each year. X2's accountant has projected the folk amortization schedule from issuance until maturity: Date 01/01/2024 12/31/2024 12/31/2025 12/31/2026 12/31/2027 12/31/2028 Paid Cash 7,000 7,000 7,000 7,000 Interest Expense 6,208 6,160 6,110 6,057 Decrease in Carrying Value $ 747 792 840 890 943 Carrying Value $ 104,212 X2 issued the bonds for: Multiple Choice O O o O $107000. $100,000, $104,212. Cannot be determined from the given information.
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