question archive 1) When a company retires bonds before maturity, the gain or loss on redemption is the difference between the cash paid and the A

1) When a company retires bonds before maturity, the gain or loss on redemption is the difference between the cash paid and the A

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1) When a company retires bonds before maturity, the gain or loss on redemption is the difference between the cash paid and the

A. maturity value of the bonds. B. face value of the bonds. C. carrying value of the bonds. D. original selling price of the bonds.

2. On May 1, 2013, Pinkley Company sells office furniture for $150,000 cash. The office furniture originally cost $375,000 when purchased on January 1, 2006. Depreciation is recorded by the straight-line method over 10 years with a salvage value of $37,500. What depreciation expense should be recorded on this asset in 2013?

Select one:

A. $16,875.

B. $12,500.

C. $11,250.

D. $33,750.

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