On Dec 31, Year 1, Todd Corporation issued 500 of its 10%, $1000 bonds at 105. Todd Corporation uses IFRS. The bonds were issued through an underwriter to whom Todd paid bond issue costs of $15,000. On Dec 31, Year 1 balance sheet, Todd should report the bond liability at:
Under IFRS the bond issue costs are deducted from the issue ...
Explains how to calculate the bond liability of Todd Corp.