Bonds payable have a balance of $1,000,000 and discount on bonds payable has a balance of $24,000. if the issuing corporation redeems the bonds at 98, $15,000 gain is the amount of gain or loss on redemption
(1,000,000-10,000) - (1,000,000x97.5)=990,000-975,000=15,000 gain.
A corporation is an organisation—usually a set of humans or a business enterprise—authorized by using the country to act as a unmarried entity and diagnosed as such in regulation for certain purposes. Early included entities were established through charter. maximum jurisdictions now allow the creation of latest groups through registration.
An organization is a business entity that is owned by means of its shareholder(s), who decide on a board of directors to supervise the corporation's sports. The agency is chargeable for the moves and price range of the enterprise – the shareholders aren't. An agency is continually a organization, however now not all corporations are corporations. The term business enterprise can check with many special enterprise structures, such as: Sole proprietorship: A sole proprietorship operates with one man or woman who handles all enterprise operations.
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