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I have the accounts correct but I'm not sure what the numbers are in relation to each account Paulino, Incorpozated owns 90 percent of Southport

I have the accounts correct but I'm not sure what the numbers are in relation to each account
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Paulino, Incorpozated owns 90 percent of Southport Company. On January 1, 2021, Paulina acquires half of Southport's $540,000 outstanding 15 year bonds. These bonds had been sold on the open market on January 1,2018 , at a 12 percent effective rate. The bonds pay a cash interest rate of 10 percent every December 31 and are scheduled to come due on December 31, 2030. Southport issued this debt orlginally for $470,626. Paulina paid $306,234 for this investment, indicating an 8 percent effective yleid 0. Assuming that both patlles use the effective rate method, what gain or loss from the retirement of this debt should be reported on the consolidated income statement for 2020 ? b. Assuming that both partles use the effective rate method, what balances should appear in the investment in Southport Bonds account on Peullina's records and the Bonds Payable account of Southportfs of December 31,2021 ? c. Assuming that both parties use the straight-ine method, what consolidation entry would be required on December 31, 2021. because of these bonds? Assume that the parent is not applying the equity method. Comptete this question by enterinc your answers in the tabs below. TAsuming that both paitles ge the straight-line method, what consolidation entry would be required on December 31, 2021, because of Where bonds? Assume thot the parent is not applying the equity method. (II no entry is required for a transaction/event, select " No

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