On January 1, 2019, Weaver Company purchased as held-to-maturity debt securities $500,000 face value of Park Corporation’s 8% bonds for $456,200. The bonds were purchased to yield 10% interest and pay interest aimually. The bonds mature on January 1, 2024. Weaver uses the effective interest meiliod of amortization. what amount should Weaver report on its December 31, 2019, balance sheet as an investment in held-to-maturity debt securities? a. $450,580 b. $456,200 c. $461,820 d. $466,200
On January 1, 2019, Weaver Company purchased as held-to-maturity debt securities $500,000 face value of Park Corporation’s 8% bonds for $456,200. The bonds were purchased to yield 10% interest and pay interest aimually. The bonds mature on January 1, 2024. Weaver uses the effective interest meiliod of amortization. what amount should Weaver report on its December 31, 2019,
a. $450,580 b. $456,200
c. $461,820 d. $466,200
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