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Concord Limited has two debt securities classified as FV-OCI. For the Chan bonds, assume the amortization table noted below. Assume further that the Anacomp bonds
Concord Limited has two debt securities classified as FV-OCI. For the Chan bonds, assume the amortization table noted below. Assume further that the Anacomp bonds were purchased at par value (therefore there is no premium or discount) and that no impairment exists. Date 1/1/23 7/1/23 1/1/24 7/1/24 1/1/25 7/1/25 1/1/26 7/1/26 1/1/27 7/1/27 Bonds Purchased to Yield 10% Cash Received 6,075 6,075 6,075 6,075 Interest Bond Discount Income Amortization $6,075 $6,489 6,075 6,510 6,075 6,532 6,075 6,555 6,075 6,579 6,604 6,630 6,658 6,687 $414 435 457 480 504 529 555 583 612 Amortized Cost of Bonds $129,788 130,202 130,637 131,094 131,574 132,078 132,607 133,162 133,745 134,357
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