Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A bond at a price of 8000 X On 23/2/2016 the company bought 12 d. Bonds with an annual interest of 12% to be paid
A bond at a price of 8000 X On 23/2/2016 the company bought 12 d. Bonds with an annual interest of 12% to be paid on 1/4 and 10/1 of each year, and the bonds mature on 23/2/2026, and on 1/4/2017 400 bonds were sold at a price of 10 d. Assign cash. The bond sale will be listed on *: 4/1/2017 as follows * 4000 from h/cash 800 from h/ losses from selling bonds 4800 to d/long-term investments in bonds 4000 from h/cash 712 from h/losses from selling bonds 4712 to h/long- term investments in bonds 80000 from d/cash 16000 from h/ losses from selling bonds 96000 to h/ long-term investments in bonds 4712 from h/cash 4000 to h/long- term investments in bonds 712 to the extent of gains from the sale of bonds
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started