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Burka [1]
3 years ago
12

Ridge Company issues $10,000,000 10-year, 9% bonds on 3/1/17 at 97 plus accrued interest. The bonds are dated January 1, 2010, a

nd pay interest on June 30 and December 31; original issue date was 1/1/17. What is the total cash received on 3/1/17
Business
1 answer:
lilavasa [31]3 years ago
8 0

Answer:

$9,850,000

Explanation:

Calculation for What is the total cash received on 3/1/17

Total cash received on 3/1/17=$10,000,000 × .97) + ([9%*$10,000,000) × 2/12]

Total cash received on 3/1/17=$10,000,000 × .97) + ($900,000 × 2/12)

Total cash received on 3/1/17=$9,700,000+$150,000

Total cash received on 3/1/17 = $9,850,000

Therefore the total cash received on 3/1/17 is $9,850,000

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7 0
2 years ago
Adams Industries holds 42,000 shares of FedEx common stock, which is not a large enough ownership interest to allow Adams to exe
olga2289 [7]

Answer:

investment in FedEx = 4410000

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Explanation:

given data

FedEx common stock = 42,000 shares

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what amount will it be reported in the 2019 balance sheet

solution

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and here

investment in FedEx =42,000  × 105

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The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

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