Answer: c. $338,000
= 26,000 shares*$13 = $338,000
Shares will carried at a price of $13
Hence 338,000 is correct.
Nichols Enterprises has an investment in 26,000 bonds of Elliott Electronics that Nichols accounts for as...
Nichols Enterprises has an investment in 31,500 bonds of Elliott Electronics that Nichols accounts for as a security available for sale. Elliott bonds are publicly traded, and The Wall Street Journal quotes a price for those bonds of $13 per bond, but Nichols believes the market has not appreciated the full value of the Elliott bonds and that a more accurate price is $24 per bond. Nichols should carry the Elliott investment on its balance sheet at: Multiple Choice $756,000. ...
Nichols Enterprises has an investment in 28 500 bonds of Elliott Electronics that Nichols accounts for as a security available for sale Ellott bonds are publicly traded and the Wall Street Joumal quotes a price for those bonds of $14 per bond, but Nichols believes the market has not appreciated the full value of the Eo bonds and that a more accurate price is $23 per bond. Nichols should carry the Elliott investment on its balance sheet at: $399 000...