Retired Bond Question,help Please?

At December 31, 2011, the 10% bonds payable of Red Deer Inc had a carrying value of $380,000. The bonds, which had a face value of $400,000, were issued at a discount to yield 12%. The amortization of the bond discount had been recorded using the effective interest method. Interest was being paid on January 1 and July 1 of each year. The July 1, 2012 interest payment and discount amortization had been correctly recorded. On July 2, 2012, Red Deer retired the bonds at 102. Ignoring income taxes, what is the loss that should be recorded on the early retirement of the bonds?

Both comments and pings are currently closed.

One Response to “Retired Bond Question,help Please?”

  1. breakman says:

    Call a accountant in your area or talk to your local government agency

Powered by WordPress | Designed by: free css template | Thanks to hostgator coupon and web hosting reviews