Use the Following Information to Answer the Question(s) Below\[\begin{array} { l l } 6 \% \text { bonds payable } & \$ 300,000 \\ \text { Premium on bonds } & 7,200 \\ \text { Interest expense } & 16,200 \end{array}\]

The Answer of Use the Following Information to Answer the Question(s) Below\[\begin{array} { l l } 6 \% \text { bonds payable } & \$ 300,000 \\ \text { Premium on bonds } & 7,200 \\ \text { Interest expense } & 16,200 \end{array}\]

Use the Following Information to Answer the Question(s) Below\[\begin{array} { l l } 6 \% \text { bonds payable } & \$ 300,000 \\ \text { Premium on bonds } & 7,200 \\ \text { Interest expense } & 16,200 \end{array}\]

The Answer of Use the Following Information to Answer the Question(s) Below\[\begin{array} { l l } 6 \% \text { bonds payable } & \$ 300,000 \\ \text { Premium on bonds } & 7,200 \\ \text { Interest expense } & 16,200 \end{array}\]

Solved

Use the Following Information to Answer the Question(s) Below $\begin{array} { l l } \text { Investment in Pascalian bonds } & \$ 97,600 \\\text { Interst income } & 6,600\end{array}$

question 11

Multiple Choice

Use the following information to answer the question(s) below.

Pascalian Company owns a 90% interest in Sapp Company. On January 1, 2013, Pascalian had $300,000, 6% bonds outstanding with an unamortized premium of $9,000. The bonds mature on December 31, 2017. Sapp acquired one-third of Pascalian's bonds in the open market for $97,000 on January 1, 2013. Both companies use straight-line amortization of bond discounts/premiums. Interest is paid on December 31. On December 31, 2013, the books of the two affiliates held the following balances:
$\begin{array} { l l } 6 \% \text { bonds payable } & \$ 300,000 \\\text { Premium on bonds } & 7,200 \\\text { Interest expense } & 16,200\end{array}$ $\begin{array} { l l } \text { Investment in Pascalian bonds } & \$ 97,600 \\\text { Interst income } & 6,600\end{array}$
-Prussia Corporation owns 80% of the voting stock of Stad Corporation.On January 1,2013,Prussia paid $391,000 cash for $400,000 par of Stad's 10% $1,000,000 par value outstanding bonds,due on April 1,2018.Stad's bonds had a book value of $1,045,000 on January 1,2013.Straight-line amortization is used.The gain or loss on the constructive retirement of $400,000 of Stad bonds on January 1,2013 was reported in the 2013 consolidated income statement in the amount of

Definitions:

High Mountains

Elevated landforms reaching great heights above the surrounding terrain, often formed by tectonic processes like collision and rifting.

Transform Boundary

A plate boundary in which two tectonic plates move horizontally past one another.

Oceanic Divergent Boundary

A tectonic plate boundary where two oceanic plates are moving apart, leading to the creation of new sea floor through volcanic activity.

Convergent Boundary

A plate-tectonic boundary in which two plates move toward (converge) relative to one another.