Hogan company has $1,000,000 of bonds outstanding. the unamortized premium is $14,400. if the company redeemed the bonds at 101, what would be the gain or loss on the redemption?
a. $10,000 gain
b. $4,400 loss
c. $10,000 loss
d. $4,400 gain

d. $4,400 gain

Explanation:

The computation of gain or loss on the redemption is shown below:

= (Outstanding bonds value + unamortized premium) - (Outstanding bonds value × bond redeemed percentage)

= ($1,000,000 + $14,400) - ($1,000,000 × 101%)

= ($1,014,400) - ($1,010,000)

= $4,400 gain

Simply we take the difference between the total amount of bond including premium and redemption value so that the correct gain or loss should be recorded

the answer is account d

the correct answer is - no.

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