MNO Company purchased 10 $1,000, 9 percent bonds on February 28, 2012, at 105 plus $300 total accrued interest. MNO intends to sell the bonds to finance office remodelling in 2013. Interest is paid each April 30 and October 31. MNO paid $120 in broker's fees at the date of purchase. MNO's reporting year ends December 31. Calculate the amount MNO should report on its 2012 balance sheet for this investment.

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The Answer of MNO Company purchased 10 $1,000, 9 percent bonds on February 28, 2012, at 105 plus $300 total accrued interest. MNO intends to sell the bonds to finance office remodelling in 2013. Interest is paid each April 30 and October 31. MNO paid $120 in broker's fees at the date of purchase. MNO's reporting year ends December 31. Calculate the amount MNO should report on its 2012 balance sheet for this investment.

MNO Company Purchased 10 $1,000, 9 Percent Bonds on February