Homework Answers
| SOLUTION : | ||
| CALCULATION OF AMOUNT OF DISCOUNT ON BONDS AS ON JANUARY 01,2017 | ||
| Par value of the Bond = | $2,50,000 | |
| Issue price of bonds ( $ 250,000 X 97.50%) | $2,43,750 | |
| Discount Value | $6,250 | |
| Answer = Amount of Discount = $ 6,250 | ||
| Note: Bonds issue at 97.50 means bonds are issued at 97.5% of par value of bond | ||
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