A company paid $27,800 plus a broker's fee of $275 to acquire 8% bonds with a $30,000 maturity value. The company intends to hold the bonds to maturity. The cash proceeds the company will receive when the bonds mature equal: Multiple Choice O O O $27,800. $30,000. $30,275. $32,400. $28,075.
A company paid $27,800 plus a broker's fee of $275 to acquire 8% bonds with a $30,000 maturity value. The company intends to hold the bonds to maturity. The cash proceeds the company will receive when the bonds mature equal: Multiple Choice O O O $27,800. $30,000. $30,275. $32,400. $28,075.
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 19MC: Gingko Inc. issued bonds with a face value of $100,000, a rate of 7%, and a 10-yearterm for...
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Transcribed Image Text:A company paid $27,800 plus a broker's fee of $275 to acquire 8% bonds with a $30,000 maturity value. The company intends to hold the bonds to maturity. The cash proceeds the company will
receive when the bonds mature equal:
Multiple Choice
O
O
$27,800.
$30,000.
$30,275.
$32,400.
$28,075.
Transcribed Image Text:On February 15, Jewel Company buys 7,600 shares of Marcelo Corp. common at $28.59 per share plus a brokerage fee of $425. The stock is classified as available-for-sale securities. This is the
company's first and only investment in available-for-sale securities. On March 15, Marcelo Corp. declares a dividend of $1.21 per share payable to stockholders of record on April 15. Jewel Company
received the dividend on April 15 and ultimately sells half of the Marcelo Corp. stock on November 17 of the current year for $29.36 per share less a brokerage fee of $280. The fair value of the
remaining 3,800 shares is $29.56 per share. The amount that Jewel Company should report in the asset section of its year-end December 31 balance sheet for its investment in Marcelo Corp. is:
Multiple Choice
O
O
O
O
$2,434.
$112,328.
$3,474.
$6,355.
$217,709,
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