Craig Corporation issued a $100,000, 10-year, 1 . percent bond on January 1 . 2013 . for $112,000 . Craig uses the straight-line method of amortization. On April 1 . 2016, Craig reacquired the bonds for retirement when they were selling at 102 on the open market. How much gain or loss should Craig recognize on the retirement of the bonds?
a. $2,000 loss
b. $3,900 gain
c. $6,100 gain
d. $8,200 loss
C
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Waxman Company purchased a patent for $170,000 at the beginning of 2013, and estimated that its expected useful life was 10 years. The patent has a legal life of 17 years. What amount should be recorded as amortization expense for the patent in 2013?
a. $ -0- b. $ 7,000 c. $10,000 d. $17,000
The ________ rule states that an ethical decision is one in which rewards and harms are distributed in a fair and impartial way.
A. utilitarian B. practical C. justice D. moral rights E. moral scruples
______ is necessary when preliminary and concurrent controls have failed.
a. Salvage control b. Feedforward control c. Damage control d. Rework control
Writers who use every permissible mark of punctuation follow ______________ style
a. an objective b. a mandatory c. a subjective d. an optional