Question 37 (15 points) TwoMuch $$$. Inc. sold a 5-year. $100,000 bond with a stated...
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Question 37 (15 points) TwoMuch $$$. Inc. sold a 5-year. $100,000 bond with a stated rate of 6% with interest payable semi-annually. The market rate is 8%. Using the effective interest rate method of amortization, what is the carrying value of the bond at the end of period 3? a) $91.888.70 b) $93.997.49 c) $92,564.25 d) $94,637.28 Question 38 (10 points) Given the following data, what is the value of the cost of goods sold as determined by the FIFO method? Sales Revenue - 550 units at $17 per unit: Purchases = 240 units at $10 per unit and Beginning Inventory - 320 units at $9 per unit. View hint for Question 38 Question 39 (10 points) Unrealized gains (losses) for Trading Securities are charged to equity accounts. a) True b) False
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