On january 1 2011 rob pays 92550 for corporate bonds that, Ask an Expert

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On January 1, 2011, Rob pays $92,550 for corporate bonds that have a $100,000 face value. The bonds were originally issued 10 years earlier for $94, 660. Prior to January 1, 2011, the previous owner had included $3,100 of original issue discount (OID) in gross income. On January 1, 2011, the amortized carrying value (AVC) of the bonds is:

a. $95,650.

b. $92,550.

c. $96,900.

d. $93,800.

e. $97,760

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Accounting Basics, Accounting

Category:- Accounting Basics
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