Diversified Services, Inc., offers a variety of business services, including financial services through its escrow division. Diversified's fiscal year ends on December 31. The only securities held by Diversified at December 1 were 12 million common shares of Shelby Laminations, Inc., purchased in November for $50 million and classified as available-for-sale. Diversified entered into the following investment activities during the last month of 2013 and the first week of 2014: 2013 Dec. 1 Purchased $30 million of 12% bonds of Vince-Gill Amusement Corporation and $24 million of 10% bonds of Eastern Waste Disposal Corporation, both at face value and both to be held until they mature. Interest on each bond issued is payable semiannually on
Diversified Services, Inc., offers a variety of business services, including financial services through its escrow division. Diversified's fiscal year ends on December 31. The only securities held by Diversified at December 1 were 12 million common shares of Shelby Laminations, Inc., purchased in November for $50 million and classified as available-for-sale. Diversified entered into the following investment activities during the last month of 2013 and the first week of 2014: 2013 Dec. 1 Purchased $30 million of 12% bonds of Vince-Gill Amusement Corporation and $24 million of 10% bonds of Eastern Waste Disposal Corporation, both at face value and both to be held until they mature. Interest on each bond issued is payable semiannually on
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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