Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on november 1st, 2014, horton company purchased lo

on November 1st, 2014, Horton company purchased Lopez Incorporated 10 year 9% bonds with a...

90.2K

Verified Solution

Question

Accounting

on November 1st, 2014, Horton company purchased Lopez Incorporated 10 year 9% bonds with a face value of $600,000, for $540,000. an additional $15,000 was paid for the accrued interest. Interest is payable semi-annually on January 1st and July 1st. The Bonds mature on July 1st, 2021. Horton uses the straight-line method of amortization. Ignoring income taxes, the amount reported in Horton's 2014 income statement as a result of Horton's available for sale investment in Lopez was multiple choice a. $13,500 be $8,000 C. $10,000 D. $9,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Which of the following is not a function of simple columnar epithelium? Multiple Choice Movement of embryo through...

Medical Sciences
Q

how do fuel prices both high and low contribute to our globalized food economy

Economics
Q

Hemophilia is a sex linked trait A person with hemophilia is lacking certain proteins that...

Biology
Q

the data in the following table which lists survey results from high school drivers at...

Statistics
Q

In the example scatterplot of child reading score as a function of child IQ score...

Statistics
Q

In exchange for a $500 million fixed commitment line of credit,...

Accounting
Q

View Policies Current Attempt in Progress Click here to view factor tables. Martinez Inc. issues...

Accounting
Q

A journal entry for a $70 payment for rent expense was posted as a debit...

Accounting
Q

Apex Fitness Club uses straight-line depreciation for a machine costing $27,350, with an estimated four-year...

Accounting
Q

11. Father of principles of management. A. O Mary Parkett B. O Lillian Gilberth C....

Accounting
Q

The restaurant also has the following indirect, undistributed costs: With a piece of scrap paper,...

Accounting
Q

Lou Barlow, a divisional manager for Sage Company, has an opportunity to manufacture and sell...

Finance