question archive On January1, 2010, Agusan Company purchased bonds with face value of P5, 000,000 to be held as “available for sale”
On January1, 2010, Agusan Company purchased bonds with face value of P5, 000,000 to be held as “available for sale”
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On January1, 2010, Agusan Company purchased bonds with face value of P5, 000,000 to be held as “available for sale”. The entity paid P4, 600,000 plus transaction costs of P142, 000. The bonds mature on December 31, 2012 and pay 6% interest annually on December 31 each year with 8% effective yield. The bonds are quoted at 105 on December 31, 20210 and 110 on December 31, 2011.What amount of cumulative unrealized gain on these bonds should be reported in the 2011 statement of changes in equity?
a. 500, 000
b. 250, 000
c. 592, 931
d. 164, 291
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