Questions and Answers > On January 1, 2022, Cargo Airlines Inc. (CAI) (uses IFRS and has a December 31 year-end) issued $5,000,000 of 4% bonds which pay interest on June 30 and December 31, and mature on December 31, 2027. The market rate of interest for similar bonds at time of issuance was 5% and on December 31, 2022 the market rate of interest for similar bonds was 6%. Scenario 1- Assume that CAI elected to subsequently measure the bonds at amortized cost.


Concordia University • ACCO • ACCO-320 On January 1, 2022, Cargo Airlines Inc. (CAI) (uses IFRS and has a December 31 year-end) issued $5,000,000 of 4% bonds which pay interest on June 30 and December 31, and mature on December 31, 2027. The market rate of interest for similar bonds at time of issuance was 5% and on December 31, 2022 the market rate of interest for similar bonds ...[Show More]

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