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Intercompany Debt--Example with Subsidiary Issuine Bonds and Parent Purchasing them in the open Market Roberts owns 70% of Cisco. Cisco has a bond pavable outstanding

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Intercompany Debt--Example with Subsidiary Issuine Bonds and Parent Purchasing them in the open Market Roberts owns 70% of Cisco. Cisco has a bond pavable outstanding to third parties on January 2010 with a book value (net of premium or discount) of $400,000. On that date Roberts purchases the bond in the open market for $410,000. Required: a. Prepare a worksheet as of January 1, 2018 after the above transactions b. Prepare consolidation worksheet entry "B" as of January 1, 2018 C. How much is the consolidated gain or loss on "retirement" of the bond. Intercompany Debt--Example with Subsidiary Issuine Bonds and Parent Purchasing them in the open Market Roberts owns 70% of Cisco. Cisco has a bond pavable outstanding to third parties on January 2010 with a book value (net of premium or discount) of $400,000. On that date Roberts purchases the bond in the open market for $410,000. Required: a. Prepare a worksheet as of January 1, 2018 after the above transactions b. Prepare consolidation worksheet entry "B" as of January 1, 2018 C. How much is the consolidated gain or loss on "retirement" of the bond

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