Apple owns 80 of Pear, Apple had a bond payable outstanding on January 1, 2010 with a book value of $212,000 Pear purchases the bond in the open market for $199,000 How much is the gain or loss on retirement of the bond (show your calculation) 2 Same facts as 2 with Pear reporting interest income of $22,000 and Apple reporting interest expense of $21,000 How much is consolidated income in 2010 3 4 Which special purpose entities must be consolidated 5 Who is required to consolidate a variable interest entity 6 What are the criteria to determine if a primary beneficiary exists Apple owns 80 of Pear, Apple had a bond payable outstanding on January 1, 2010 with a book value of $212,000 Pear purchases the bond in the open market for $199,000 How much is the gain or loss on retirement of the bond (show your calculation) 2 Same facts as 2 with Pear reporting interest income of $22,000 and Apple reporting interest expense of $21,000 How much is consolidated income in 2010 3 4 Which special purpose entities must be consolidated 5 Who is required to consolidate a variable interest entity 6 What are the criteria to determine if a primary beneficiary exists

Question

Apple owns 80  of Pear, Apple had a bond payable outstanding on January 1, 2010 with a book value of $212,000  Pear purchases the bond in the open market for $199,000  How much is the gain or loss on retirement of the bond (show your calculation)  2  Same facts as  2 with Pear reporting interest income of $22,000 and Apple reporting interest expense of $21,000  How much is consolidated income in 2010  3  4  Which special purpose entities must be consolidated 5  Who is required to consolidate a variable interest entity 6  What are the criteria to determine if a primary beneficiary exists Apple owns 80  of Pear, Apple had a bond payable outstanding on January 1, 2010 with a book value of $212,000  Pear purchases the bond in the open market for $199,000  How much is the gain or loss on retirement of the bond (show your calculation)  2  Same facts as  2 with Pear reporting interest income of $22,000 and Apple reporting interest expense of $21,000  How much is consolidated income in 2010  3  4  Which special purpose entities must be consolidated 5  Who is required to consolidate a variable interest entity 6  What are the criteria to determine if a primary beneficiary exists

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Apple owns 80% of Pear, Apple had a bond payable outstanding on January 1, 2010 with a book value of $212,000. Pear purchases the bond

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