CHIA-SEED Company
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
On April 30, CHIA-SEED Company issued 7,000 of 15% ₱1,000 bonds at 95. The bonds have a five-year term and interest is payable semi-annually, May 1 and November 1. The entity elected the fair value option. The entity paid bond issue cost of ₱125,000. On December 31, 2021, the fair
What amount of gain or loss should be recognized in profit or loss for 2021 to conform with the fair value option?
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