Question
using the foregoing data, assume that the bonds of xyzzy were sold by abc at the fair value of 1, 100,000 on december 31, 2020:
using the foregoing data, assume that the bonds of xyzzy were sold by abc at the fair value of 1, 100,000 on december 31, 2020: December 1, 2020 = cash debit 1,100,000, credit = 1,100,000. December 31, 2020 - unrealized gain - FV-OCI = 26, 240, Debit Gain on sale of debt investment 26, 240=creditusing the foregoing data, assume that the bonds of xyzzy were sold by abc at the fair value of 1, 100,000 on december 31, 2020: December 1, 2020 = cash debit 1,100,000, credit = 1,100,000. December 31, 2020 - unrealized gain - FV-OCI = 26, 240, Debit Gain on sale of debt investment 26, 240=credit
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College Accounting Chapters 1-30
Authors: John Price, M. David Haddock, Michael Farina
14th edition
978-1259284861, 1259284867, 77862392, 978-0077862398
