On January 1, 2017. Agronomist Inc. had a balance of $340,000 in the long-term investments account. During 2017, Agronomist Inc. sold long-term investments for $115,000 cash, resulting in a $13,000 gain. On December 31, 2013, the long-term investments account showed a balance of $380,000. The long-term investments purchased during 2013 totalled: a) $75,000 b) $155,000 c) $142,000↓ d) $265,000
On January 1, 2017. Agronomist Inc. had a balance of $340,000 in the long-term investments account. During 2017, Agronomist Inc. sold long-term investments for $115,000 cash, resulting in a $13,000 gain. On December 31, 2013, the long-term investments account showed a balance of $380,000. The long-term investments purchased during 2013 totalled: a) $75,000 b) $155,000 c) $142,000↓ d) $265,000
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![On January 1, 2017. Agronomist Inc. had a balance of $340,000 in the long-term
investments account. During 2017, Agronomist Inc. sold long-term investments for
$115,000 cash, resulting in a $13,000 gain. On December 31, 2013, the long-term
investments account showed a balance of $380,000. The long-term investments
purchased during 2013 totalled:
a) $75,000
b) $155,000
c) $142,000
d) $265,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7c485f9c-d094-455a-9f4b-30523c01e9a2%2Fbb0b529a-5d43-48cd-896f-42f35f280c9a%2F5nfa3f9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On January 1, 2017. Agronomist Inc. had a balance of $340,000 in the long-term
investments account. During 2017, Agronomist Inc. sold long-term investments for
$115,000 cash, resulting in a $13,000 gain. On December 31, 2013, the long-term
investments account showed a balance of $380,000. The long-term investments
purchased during 2013 totalled:
a) $75,000
b) $155,000
c) $142,000
d) $265,000
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