Question
Indigo Inc. owns a bond that is accounted for using the cost/amortized cost model. At the reporting period end, the carrying value of the
Indigo Inc. owns a bond that is accounted for using the cost/amortized cost model. At the reporting period end, the carrying value of the bond is $958000. Management believes that the fair market value of the bond is $983000. What would the entry be for the gain/loss on the bond? No entry required $25000 Gain $25000 Unrealized Gain $25000 Loss
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
8th edition
978-1118953815, 978-1118953907
