Kolkata Ltd. sells Gish's bonds costing Rs40,000 for Rs45,000, including Rs500 of accrued interest. In recording the

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Kolkata Ltd. sells Gish's bonds costing Rs40,000 for Rs45,000, including Rs500 of accrued interest. In recording the sale, Kolkata books a Rs5,000 gain. Is this correct? Explain.

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Financial Accounting

ISBN: 978-1118978085

IFRS 3rd edition

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

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Question Posted: Apr 07, 2017 11:27 AM

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Kolkata Ltd. sells Gish's bonds costing Rs40,000 for Rs45,000, including Rs500 of accrued interest. In recording the

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Financial Accounting

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