A company has bonds outstanding with a par value of $100,000. The unamortized discount on these bonds is $4,500. The company retired these bonds by buying them on the open market at 97. What is the gain or loss on this retirement?
A) $0 gain or loss.
B) $1,500 gain.
C) $1,500 loss.
D) $3,000 gain.
E) $3,000 loss.
C) $1,500 loss.
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a. Job purpose b. Job enrichment c. Job enlargement d. Job rotation
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Indicate whether the statement is true or false
Beckman Enterprises purchased a depreciable asset on October 1, Year 1 at a cost of $100,000. The asset is expected to have a salvage value of $20,000 at the end of its five-year useful life. If the asset is depreciated on the double-declining-balance method, the asset's book value on December 31, Year 2 will be:
A) $36,000 B) $42,000 C) $54,000 D) $16,000 E) $90,000