Multiple Choice
Parrish Industries has bonds outstanding (originally sold for $4,340,000) in the face amount of $4,600,000 with a current bond discount of $200,000. The bonds were selling at 104 on the market at its year end. If Parrish elects the fair value option for these bonds, at what value should it report these bonds on its balance sheet at year end?
A) $4,600,000
B) $4,800,000
C) $4,400,000
D) $4,784,000
Correct Answer:
Verified
Correct Answer:
Verified
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