Kolkata Company sells Surats bonds costing Rs400,000 for Rs450,000, including Rs5,000 of accrued interest. In recording the

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Kolkata Company sells Surat’s bonds costing Rs400,000 for Rs450,000, including Rs5,000 of accrued interest. In recording the sale, Kolkata books a Rs50,000 gain. Is this correct? Explain.

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Financial accounting

ISBN: 978-1118285909

IFRS Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

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Question Posted: Mar 11, 2013 06:26 AM

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Kolkata Company sells Surats bonds costing Rs400,000 for Rs450,000, including Rs5,000 of accrued interest. In recording the

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Financial accounting

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