bestsonever698
29.01.2021 •
Business
Sandhill Co. received proceeds of $583500 on 10-year, 8% bonds issued on January 1, 2019. The bonds had a face value of $550000, pay interest annually on December 31, and have a call price of 102. Sandhill uses the straight-line method of amortization. Sandhill Co. decided to call the bonds on January 1, 2021. What amount of gain or loss would Sandhill report on their 2021 income statement?
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Ответ:
$15,800 gain
Explanation:
Calculation for the amount of gain or loss would Sandhill report on their 2021 income statement
First step is to calculate Annual Amortization
Annual Amortization=($583,500 - $550000) ÷ 10 Annual Amortization= $3,350
Now let calculate the amount of gain or loss
Gain or loss= ($550,000 × 1.02) - [$583,500 - ($3350 × 2)]
Gain or loss= $561,000-($583,500-$6,700)
Gain or loss=$561,000-$576,800
Gain or loss=$15,800 Gain
Therefore the amount of gain or loss would Sandhill report on their 2021 income statement will be $15,800 Gain
Ответ:
Rose Marie received $152 in earned income and $25 in transfer payments.
Explanation:
Based on the information provided within the question it can be said that in this scenario Rose Marie received $152 in earned income and $25 in transfer payments. The $152 from her "side hustle" is basically from a service that she provided, which she worked (earned) for. Since the other payment was given to her from her grandmother, it is said to have transferred ownership, thus it is a transfer payment.