chapter 15 and 21 test

chapter 15 and 21 test - On May 1, 2010, Stanton Company...

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On May 1, 2010, Stanton Company purchased $50,000 of Harris Company's 12% bonds at 100  plus accrued interest of $2,000. On June 30, 2010, Stanton received its first semiannual interest. On February 1, 2011, Stanton sold $40,000  of the bonds at 103 plus accrued interest. What are the total proceeds from the February 1, 2011 sale? a. $41,700  What was Carter Co.'s weighted average variable cost? a. $ 70  One potential advantage of financing corporations through the use of bonds rather than common stock is a. the corporation must pay the bonds at maturity 
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A long-term investment in debt securities is carried at a. lower of cost or market  On June 1, $400,000 of bonds were purchased as a long-term investment at 97.5 and $500 was paid as the brokerage commission. If the  bonds bear interest at 12%, which is paid semiannually on January 1 and July 1, what is the total cost to be debited to the investment  account? a.
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chapter 15 and 21 test - On May 1, 2010, Stanton Company...

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