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On Jan 1 2011 Riley Corp acquired some of the outstanding bonds of one of its
Jessie Manufacturing Company employs a job order cost accounting system and
September 15, 2020Iwasaki inc. Is considering wether to continue to make a component or to buy i
September 15, 2020On Jan 1 2011 Riley Corp acquired some of the outstanding bonds of one of its subsidiaries. The bonds had a carrying value of $421620 and Riley paid
$401937 for them. How should you account for the difference between the carrying value and the purchase prive in the consolidated financial statements for
2011?
a.) the difference is added to the carrying value of the debt
b.) the difference is deducted from the carrying value of the debt
c.) the difference is treated as a los from the extinguishment of the debt
d.) the difference is treated as a gain from the extinguishment of the debt
e.) the difference does not influence the consolidated financial statements
