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laranagbaby
Dec 5, 2012, 01:23 PM
I am recording and valuing trading securities. The transaction is feb 1st 2011 sold the remaining (60,000) 7 1/2% treasury bonds at 101 plus accrued interest. Brokerage fee's were $200.
Selling price $60,600
Less: Brokerage fees 300
Cost of bonds 60375 60675
Loss on sale $(75)
Accrued interest:
Value x Rate x Portion of year
$60,000 7.5% ??

I need help figuring out the portion of the year. Please help!

paraclete
Dec 5, 2012, 06:05 PM
In the absence of any other information you will have to assume the year began on January 1.