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  1. business
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  3. on january 1, 2014, the company issued $10,000,000

On January 1, 2014, the company issued $10,000,000 of 5 percent bonds at par value...

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Accounting

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On January 1, 2014, the company issued $10,000,000 of 5 percent bonds at par value that mature in five years on December 31, 2018. Costs incurred in issuing the bonds were $500,000. Interest is paid on the bonds annually. Prepare a reconciliation schedule to reconcile 2015 net income and December 31, 2015, stockholders' equity from a U.S. GAAP basis to IFRS. Ignore income taxes. Prepare a note to explain each adjustment made in the reconciliation schedule

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