lowkedoutbrian2166 lowkedoutbrian2166

13-02-2020
Business

contestada

X2 buys back the bonds for $103,000 immediately after the interest payment on 12/31/2022 and retires them. What gain or loss, if any, would X2 record on this date?

Respuesta :

mirianmoses mirianmoses

13-02-2020

Answer:

The answer is $327 loss

Explanation:

Gain (loss) = Carrying Value-buy back value

= 102673-103000

(loss) = 327

So the answer is $327 loss

Answer Link

zubam2002 zubam2002

13-02-2020

Answer: $61,800 (loss)

Explanation: 20% interest on the bond $103,000 after a year = 0.20 X $103,000 = $20,600

Then after 2 years, that is, 2022, the amount = 2 X $20,600 = $41,200

∴ Amount, that is, loss received = $(103,000 - 41,200) = $61,800

Answer Link

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