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The following are two independent situations. 1. Longbine Corporation redeemed $130,000 face
value, 12% bonds on June 30, 2022, at 102. The carrying value of the bonds at the redemption
date was $117,500. The bonds pay annual interest, and the interest payment due on June 30,
2022, has been made and recorded.
Please show the math on how you got the answer! Especially for loss on redemption of
bonds payable!

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The following are two independent situations- 1- Longbine Corporation.pdf

  • 1. The following are two independent situations. 1. Longbine Corporation redeemed $130,000 face value, 12% bonds on June 30, 2022, at 102. The carrying value of the bonds at the redemption date was $117,500. The bonds pay annual interest, and the interest payment due on June 30, 2022, has been made and recorded. Please show the math on how you got the answer! Especially for loss on redemption of bonds payable!