On September 30, 2020, siemens Corporation issued Rs.5,000,000 face value of 9%,5 years bonds to yield 8%. The bonds pay interest annually on Oct 1. Instructions 1. At what amount Engro will get to record the liability on September 30, 2020? a. siemens year end is December 31, what will be the interest expense recorded on income statement and the amortization added/subtracted from the bond liability on December 31,2020 b. What will be the bond liability on Oct 1,2021 and interest expense recorded for the year? c. Record Journal entries and adjusting entries for the dates given above

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Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.