QUESTION 2 Kukus Co. Ltd issues a bond valued at P712,134 on January 1, 2020....
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QUESTION 2 Kukus Co. Ltd issues a bond valued at P712,134 on January 1, 2020. This bond doesn't involve any interest payments and will be retained until its maturity date, December 31, 2022, at which point it will be redeemed for GH821,555. Importantly, it's worth noting that the bond hasn't been classified as "at fair value through profit or loss." Required: Calculate the charge to profit or loss of Galaxy Co for the year ended 31 December 2021 and the balance outstanding at 31 December 2021.
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