Kern Company purchased bonds with a face amount of $1,000,000 between interest payment dates. Kern purchased the
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Kern Company purchased bonds with a face amount of $1,000,000 between interest payment dates. Kern purchased the bonds at 102, paid brokerage costs of $15,000, and paid accrued interest for three months of $25,000.
What amount should be recorded as the cost of this long-term investment in bonds?
Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date: