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company was started when it issued bonds with 300000 face value on January1 2013 The bond where issued for 103 they had a 15 year term of maturity and a 6 percent annual interest rate interest was payable annually . They purchased land immediately with the cash received They leased the land with cash received from the bond issued they leased the land for 36000 per year On January 1 2016 the company sold the land for 130000 cash .Immediately after the sale they repurchased its bond at 104 Assume that no other accounting events occurred in 2016
a) computation and list of transactions Income statement statement of changes in equity balance sheet and statement of cash flow for years 2013 2014 2015 2016 |
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