Hi! Wanna know what's the answer for this question On July 1, 2019, Catto Company purchased P500,00 face value Doggo Company 8% bonds for P455,000 plus accrued interest to yield 10%. the bonds were designated as at fair value through profit or loss. The bonds mature on January 1, 2023 and pay interest annually on January 1. On December 31, 2019, the bonds had a market value of 472,500. On February 14, 2020. Catto sold the bonds for 450,000 plus accrued interest. What is the interest income reported by Catto for the year 2019?
Hi! Wanna know what's the answer for this question On July 1, 2019, Catto Company purchased P500,00 face value Doggo Company 8% bonds for P455,000 plus accrued interest to yield 10%. the bonds were designated as at fair value through profit or loss. The bonds mature on January 1, 2023 and pay interest annually on January 1. On December 31, 2019, the bonds had a market value of 472,500. On February 14, 2020. Catto sold the bonds for 450,000 plus accrued interest. What is the interest income reported by Catto for the year 2019?
Chapter1: Financial Statements And Business Decisions
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Hi! Wanna know what's the answer for this question
On July 1, 2019, Catto Company purchased P500,00 face value Doggo Company 8% bonds for P455,000 plus accrued interest to yield 10%. the bonds were designated as at fair value through profit or loss. The bonds mature on January 1, 2023 and pay interest annually on January 1. On December 31, 2019, the bonds had a market value of 472,500. On February 14, 2020. Catto sold the bonds for 450,000 plus accrued interest.
What is the interest income reported by Catto for the year 2019?
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