FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Banaba Company had the following transactions in bond investment held as trading for the current year.
Mar.1 Purchased 1,000 P1,000, 12% bonds of Lander Company at 90 excluding accrued interest. Interest is payable on February 1 and August 1.
Apr. 1 Purchased 3,000, P1,000, 12% bonds of Narita Corporation at 92 plus accrued interest. Interest is payable March 1 and September 1.
Oct. 1 Sold 500 of Narita bonds at 102 excluding accrued interest.
Dec. 1 Sold all of the Lander bonds at 95 plus accrued interest
31 The market value of the Narita bonds is 90.
Required;
Prepare
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