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What is the overall income statement

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Reference no: EM132832622

Question - On 1/1/2009 Company A purchases a 5 year $1,000,000, 6% bond requiring semi annual interest payment from company B. Interest payments are scheduled to occur on 6/30 and 12/31 each year. They classify this investment as trading. Company A pays an amount for the bond that creates an effective yield of 5%.

Assuming that company A prepares its financial statements (balance sheet, income statement) on 12/31 each year, and further that the market value of the company B bond is $970,000 on 12/31/2009. What is the overall 2009 income statement impact of the company B bond investment for company A?

Reference no: EM132832622

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