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Write the consolidating entry

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Question - Company A is the parent and company B is the subsidiary. Company A issued the 10-year bonds with a total face value of $1,000,000 in Jan. 1, 2011. Issuance price is $807,470. Yield is 9% and coupon rate is 6%. On Jan. 1, 2013 (two years later), company B acquired all of those bonds for $1,064,632. This investment generates a 5% actual rate of return. Write the consolidating entry (intra-entity debt) on Dec. 31, 2013.

Reference no: EM132797772

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