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    laranagbaby's Avatar
    laranagbaby Posts: 1, Reputation: 1
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    #1

    Dec 5, 2012, 01:23 PM
    Computation of Bond Sale Amounts- the portion of the year
    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's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

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