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A company has bonds outstanding with a par value of $170,000. The unamortized premium on these bonds is $4,505. If the company retired these bonds at a call price of $166,600, the gain or loss on this retirement is:

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Parrain

Answer: $‭7,905‬

Explanation:

Gain(loss) on retirement = Carrying value of bond - Call Price

Carrying Value = Par Value of bonds + Unamortized premium

= 170,000 + 4,505

= 174,505

Gain(loss) on retirement = Carrying value of bond - Call Price

= 174,505 - 166,600

= $‭7,905‬

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