1.
A company has bonds with a principal value of $1,000,000
outstanding. The unamortized premium on the bonds is $14,400. The
company redeemed the bonds at 101. What is the company’s gain or
loss on the redemption?
Group of answer choices
$4,400 gain
$4,400 loss
$0
$10,000 loss
$10,000 gain
2.
In the current year, a corporation had sales of $500,000, net
income of $150,000, interest expense of $30,000, and tax expense of
$20,000. Its net sales were $1,000,000 and...