The Titan retires a $24.7 million bond issue when the carrying value of the bonds is $21.9 million, but the market value of the bonds is $28.1 million. The entry to record the retirement will include:   Multiple Choice   A credit of $6.2 million to a gain account.   No gain or loss on retirement.   A credit to cash for $21.9 million.   A debit of $6.2 million to a loss account.

The Viper retires a $497 million bond issue when the carrying value of the bonds is $53.0 million, but the market value of the bonds Is $47.2 million. The entry to record the retirement will Include: Multiple Choice No gain or loss on retirement. A debit of $58 million to a loss account A credit of $5.8 million to a gain account A credit to cash for $53.0 milion pe here to search Ps Ps 39% ***2 PriSc & 8 3 R IT Y U P G H. IK V M つ B

John Deere retires a $40 million bond issue when the carrying value of the bonds is $42 million, but the market value of the bonds is $36 million. The entry to record the retirement will include: A. A credit of $6 million to a gain account B. A debit of $6 million to a loss account C. A credit to cash for $42 million D. No gain or loss on retirement

What is the correct choice? A $200,000 bond issue with a carrying value of $194,000 is called at 101 and retired. The entry to record the retirement of bonds is:   a. Bonds Payable            200,000                            Gain on Retirement      of Bonds                                     6,000           Cash                                        194,000             b. Bonds Payable            200,000                            Cash                                        200,000             c. Bonds Payable            200,000                       Loss on Retirement of Bonds                         8,000                            Unamortised Bond      Discount                                     6,000           Cash                                        202,000        d. Bonds Payable            194,000                       Loss on Retirement of Bonds                         8,000                            Cash…

Pizza Pier retires its 7% bonds for $70,800 before their scheduled maturity. At the time, the bonds have a face value of $72,800 carrying value of $74,965.Record the early retirement of the bonds. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Record the early retirement of the bonds.     Transaction General Journal Debit Credit 1

Uramilaben

Hello, I'm in need of assistance with the following journal entry. Thanks!

Please help me.  Fast solution please.  Thankyou.

The balance sheet for Monty Consulting reports the following information on July 1, 2022. Long-term liabilities Bonds payable $1,380,000 Less: Discount on bonds payable 55,200 $1,324,800 Monty decides to redeem these bonds at 102 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation July 1 Bonds Payable Cash Debit 1380000 Credit 1407600

On July 1, 2018, Miniature Company has bonds with balances as shown below.     Bonds Payable   65,000     Discount Payable on Bonds 3,250   If the company retires the bonds for $66,150, what will be gain or loss on the retirement?