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Question 29 4 pts On January 1, 2013, a company issued 1,000 of its 10%, $1,000 bonds for $1,050,000. These bonds were to mature in
Question 29 4 pts On January 1, 2013, a company issued 1,000 of its 10%, $1,000 bonds for $1,050,000. These bonds were to mature in 10 years, but were callable at 102 any time after December 31, 2017 Interest was payable annually on January 1. On January 1, 2018, after making the required interest payment, the company called all of the bonds and retired them. The unamortized premium on that date was $29,000. The company's gain or loss in 2018 on this early retirement of debt was $30,000 gain $ 9,000 gain $42.000 loss $21,000 loss D Question 30 4 pts At the beginning of 2018, Angel Corporation began offering a two-year warranty on its products. The warranty program was expected to cost Angel 4% of net sales. Net sales made under warranty in 2018 were $180 million Fifteen percent of the units sold were returned in 2018 and repaired or replaced at a cost of $5.3 million. The amount of warranty expense on Angel's 2018 income statement is $270 million $10.6 million $72 million $5.3 million
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