On November 1, 2025, Crane Company purchased Bramble, Inc., 10-year, 8%, bonds with a face value of $790000, for $710000. An additional $23000 was paid for the accrued interest. Interest is payable semiannually on January 1 and July 1. The bonds mature on July 1, 2030. Crane uses the straight-line method of amortization. Ignoring income taxes, the amount reported in Crane's 2025 income statement as a result of Crane's available-for-sale investment in Bramble was . $7243. $8600. $11457. O $9957.

On November 1, 2025, Crane Company purchased Bramble, Inc., 10-year, 8%, bonds with a face value of $790000, for $710000. An additional $23000 was paid for the accrued interest. Interest is payable semiannually on January 1 and July 1. The bonds mature on July 1, 2030. Crane uses the straight-line method of amortization. Ignoring income taxes, the amount reported in Crane's 2025 income statement as a result of Crane's available-for-sale investment in Bramble was . $7243. $8600. $11457. O $9957.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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