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What is the amount reported as the ending balance

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Question - Muffin Co. has a December 31 year-end. It used some of its excess cash to buy temporary Investments. The following transactions relating to these investments occurred this year:

Jan 15th - Bought 2,145 shares of IBM @ $120

March 1st - Bought $15,180 of GMC 6% bonds @ par

March 20 - IBM declares a $5/share dividend payable March 31.

December 31 - Market values of IBM shares are $130. Market value of GMC bonds are $14,000.

Required -

1: What is the amount reported as revenue from dividends in the annual Income Statement?

2: What is the amount reported as Interest Revenue in the annual Income Statement?

3: What is the amount reported as the ending balance of the account "IBM Shares" at year end in the Balance sheet?

4: What is the amount reported as the ending balance of the account "GMC Bonds" at year end in the Balance sheet?

Reference no: EM133159256

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