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Early Extinguishment of Debt . Sid Glandon, DBA, CPA Assistant Professor of Accounting. Early Extinguishment of Bonds . Early extinguishment of bonds Convertible bonds Bonds with detachable warrants. Fact Pattern.

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Early extinguishment of debt

Early Extinguishment of Debt

Sid Glandon, DBA, CPA

Assistant Professor of Accounting


Early extinguishment of bonds
Early Extinguishment of Bonds

  • Early extinguishment of bonds

  • Convertible bonds

  • Bonds with detachable warrants


Fact pattern
Fact Pattern

  • Spencer Company sells $600,000 of 12% bonds on June 1, 2001. The bonds pay interest on December 1 and June 1. The due date for the bonds is June 1, 2005. The bonds were sold to yield 10%.

  • On October 1, 2002 the company redeems $120,000 worth of the bonds for $126,000 (which includes accrued interest)


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