Posted: 19 Jul 2009 at 14:12 | IP Logged
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I was wondering if someone can help me understand this problem.
Jent Corp purchased bonds at a discount of $10,000. Subsequently, Jent sold these bonds at premium of $14,000. During the priod that Jent held this investment, amortization of the discount amounted $2,000. What amount should Jent report as gain on the sale of bonds?
- 24,000
- 12,000
- 26,000
- 22,000
__________________ BEC 3x 76 Expires Dec 09
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