On january 1, year 13, hart, inc., redeemed its 15-year bonds of $500,000 face amount for 102. they were originally issued on january 1, year 1 at 98 with a maturity date of january 1, year 16. the bond issue costs relating to this transaction were $20,000. hart amortizes discounts, premiums, and bond issue costs using the straight-line method. before income taxes, what amount of loss should hart recognize on the redemption of these bonds?

Grey company holds an overdue note receivable of $800,000 plus recorded accrued interest of $64,000. the effective interest rate is 8%. as the result of a court-imposed settlement on december 31, year 3, grey agreed to the following restructuring arrangement: reduced the principal obligation to $600,000.forgave the $64,000 accrued interest.extended the maturity date to december 31, year 5.annual interest of $40,000 is to be paid to grey on december 31, year 4 and year 5. the present value of the interest and principal payments to be received by grey company discounted for two years at 8% is $585,734. grey does not elect the fair value option for reporting the debt modification. on december 31, year 3, grey would recognize a valuation allowance for impaired loans of

Frolic corporation has budgeted sales and production over the next quarter as follows. the company has 4100 units of product on hand at july 1. 10% of the next months sales in units should be on hand at the end of each month. october sales are expected to be 72000 units. budgeted sales for september would be: july august september sales in units 41,500 53,500 ? production in units 45,700 53,800 58,150

Which of the following comes after a period of recession in the business cycle? a. stagflation b. a drought c. a boom d. recovery