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igor_vitrenko [27]
3 years ago
11

On June 30, 2017, Prouty Co. had outstanding 9%, $5,000,000 face amount, 10-year bonds that pay interest semi-annually on June 3

0 and December 31. The unamortized balance in the bond discount account on June 30, 2017 was $200,000. On June 30, 2017, Prouty acquired all of these bonds at 101 and retired them. What amount of gain or loss would Prouty record on this early extinguishment of debt
Business
1 answer:
xxMikexx [17]3 years ago
6 0

Answer: $250,000 loss

Explanation:

The bonds' net carrying amount is

=($5,000,000 - $200,000)

= $4,800,000.

The loss on extinguishment is

=($5,000,000 X 1.01) - $4,800,000

= $250,000.

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4 0
1 year ago
The total factory overhead for Norton Company is budgeted for the year at $300,000, divided into three activities: assembly, $20
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Answer:

b. $294 per setup

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Therefore the activity rate for the setup activity is $294 per setup

8 0
3 years ago
Listening skills are often as difficult to develop as speaking skills.<br><br> True<br> False
Drupady [299]

some people say its true others say its false

I would say its false

hope this helps :)

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3 years ago
The production possibilities curve illustrates the basic principle that: Group of answer choices A) an economy will automaticall
ICE Princess25 [194]

Answer:

The correct answer is option C.

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Since the resources are scarce, when we produce more of one good, we need to sacrifice more and more of the other good.

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Pick a number from 1 to 50 winner gets 30 points. You can comment or answer on this question.
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Answer:

43

Explanation:

6 0
3 years ago
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