S company issued bonds on Jan 1, 2014. Interest payments are semi annually on July 1 and
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Question:
On January 1 2016 P Purchased in the market some of S company's bonds.
Face Value of bonds purchased 75,000$
purchase price of bonds 70,936$
Market interest rate on 1/1/16 was 10%
what are the consolidation entries for year 16, and how does this affect net income?
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Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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