Tony Hawk's Adventure (THA) issued callable bonds on January 1, 2021. THA's accountant has projected the following amortization schedule from issuance until maturity:

Date Cash Paid Interest
Expense Increase in
Carrying Value Carrying
Value
01/01/2021 $ 265,788
06/30/2021 $ 11,200 $ 13,289 $ 2,089 267,877
12/31/2021 11,200 13,394 2,194 270,071
06/30/2022 11,200 13,504 2,304 272,375
12/31/2022 11,200 13,619 2,419 274,794
06/30/2023 11,200 13,740 2,540 277,334
12/31/2023 11,200 13,866 2,666 280,000

THA buys back the bonds for $267,861 immediately after the interest payment on 12/31/2021 and retires them. What gain or loss, if any, would THA record on this date?

$2,210 gain.

$2,073 loss.

$12,139 gain.

No gain or loss.

Employees who are paid to complete a task, such as build a house, are paid on a(n) basis

The winston company estimates that the factory overhead for the following year will be $1,250,000. the company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 50,000 hours. the total machine hours for the year were 54,300. the actual factory overhead for the year were $1,375,000. determine the over- or underapplied amount for the year.

The amberssen specialty company is a chain of twelve retail stores that sell a variety of imported gift items, gourmet chocolates, cheeses, and wines in the toronto area. amberssen has an is staff of three people who have created a simple but effective information system of networked point-of-sale registers at the stores and a centralized accounting system at the company head- quarters. harry hilman, the head of amberssens is group, has just received the following memo from bill amberssen, sales director (and son of amberssen’s founder). harry—it’s time amberssen specialty launched itself on the internet. many of our competitors are already there, selling to customers without the expense of a retail storefront, and we should be there too. i project that we could double or triple our annual revenues by selling our products on the internet. i’d like to have this ready by - giving, in time for the prime holiday gift-shopping season. bill after pondering this memo for several days, harry scheduled a meeting with bill so that he could clarify bill’s vision of this venture. using the standard con- tent of a system request as your guide, prepare a list of questions that harry needs to have answered about this project.