Aaron,a Holder of a $200,000 Post Inc

question 18

Multiple Choice

Aaron,a holder of a $200,000 Post Inc.bond,collected the interest due on June 30,20X2,and then sold the bond to Stick Inc.for $185,000.On that date the bond issuer,Post,an 80 percent owner of Stick,had a $220,000 carrying amount for this bond.
-Based on the information given above,what amount of gain or loss on bond retirement was recorded during the consolidation process?

• A)No gain or loss
• B)$35,000 loss
• C)$35,000 gain
• D)$15,000 loss

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Definitions:

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A personality characterized by a constant sense of urgency, competitiveness, and an excessive preoccupation with work and time management.

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