Q:

How to figure gain on retirement of bond. Parent issues bond for 10M at 1.06. Sub buys 40% at 96.6. after 3 yr what is the change to beginning RE as a result of this transaction

belongs to book: ADVANCED ACCOUNTING|Debra C.jeter, Paul K.Chaney|7th edition| Chapter number:6| Question number:10

Ibrahimhamm

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2022-07-06

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Ibrahimhamm

2022-07-06

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340,000 - gain on retirement
348,000 - eliminate intra entity int. expense
(368,000) - eliminate intra entity int. revenue
= 320,000

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