Business, 18.07.2020 04:01, rujirasri3620

On december 31, 2008, Pico acquired $ 250,000 per value of the outstanding $1,000,000 bonds of its subsidiary, sico, in the market for $ 200,000, on the date, Sico had a $ 100,000 discount on its total liability. Which one of the following is the net amount of gain or loss that will be recognized by pico in its December 31, 2008, consolidated financial statements as a result of its intercompany bonds? a. $150,000
b. $ 50,000
c. $25,000
d. $75,000

Answers: 3

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On december 31, 2008, Pico acquired $ 250,000 per value of the outstanding $1,000,000 bonds of its s...