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bradenhale
25.01.2021 •
Business
On January 2, 2015, Banno Corporation issued $1,500,000 of 10% bonds at 97 due December 31, 2024. Interest on the bonds is payable annually each December 31. The discount on the bonds is also being amortized on a straight-line basis over the 10 years. (Straight-line is not materially different in effect from the preferable "interest method.")The bonds are callable at 101 (i.e., at 101% of face amount), and on January 2, 2020, Banno called $900,000 face amount of the bonds and redeemed them.Ignoring income taxes, compute the amount of loss, if any, to be recognized by Banno as a result of retiring the $900,000 of bonds in 2020. (Round answer to 0 decimal places, e.g. 38,548.)Loss on redemption
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Ответ:
$22,500
Explanation:
Computation of the amount of loss
Loss on redemption of bonds=[($900,000*101%)+(100%-97%*$900,000/10 years*5years)]-$900,000
Loss on redemption of bonds=[($909,000)+(3%*$900,000/10 years*5 years)]-$900,000
Loss on redemption of bonds=($909,000+$13,500)-$900,000
Loss on redemption of bonds=$922,500-$900,000
Loss on redemption of bonds=$22,500
Note that 1/2/2016 - 1/2/2020 will give us 5 years which means that there are 5 years left making the balance in the discount Account to be $13,500.
Therefore the amount of loss will be $22,500
Ответ:
The correct answer is (B)
Explanation:
During the first stage of resume review, the reviewer's quickly scan all the resumes and eliminate candidates based on experiences, profile, motivation and education. The second stage is to shortlist the candidates for the interview call. In this stage, they further eliminate some candidates. The third stage is to structure and organise the interview questions.