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please calculate Interest revenue and interest expense, and apply formula 2) Lids, Inc. has the following items in its portfolio of trading securities at 1/1/2020:
please calculate Interest revenue and interest expense, and apply formula
2) Lids, Inc. has the following items in its portfolio of trading securities at 1/1/2020: Rose common stock: $172,500 Pansy, Inc. 5%, 6 year, $150,000, zero coupon bonds $129,576 (amortized cost) The security fair value adjustment account had a $1,500 (debit) balance before adjustments. At year end, market prices and other data are as shown below: Market price Rose common stock: $167,750 Pansy, Inc. bonds: S138,680 amortized cost: $136,055 1) What amount of interest income would be recognized (recorded) on the Pansy bonds at year-end 2020? Interest revenue - interest expense Interest income 2020Step by Step Solution
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