10. ABC has a put option on 955 shares of XYZ stock. Time value of the option is $55, and the Put Option account is shown at $24,885 on the balance sheet. Intrinsic value of the contract is Use the following information to answer the next 2 questions. A company has outstanding $370,000, 10%, 3-year bonds that pay interest semiannually. The market rate in effect on issue date was 12%, resulting in an issue price of $351,806. 11. The carrying value of the bonds after the first interest payment is 12. Immediately after the second interest payment, the company buys back the bonds for $361,203 and retires them. The loss on early extinguishment is 4 4 13. XYZ entered into an interest rate swap with a swap bank. XYZ pays variable interest to the bank and receives fixed interest at 7.60%. The notional principal is $290,000. The variable rate on settlement date is 9.00%. The journal entry for settlement of the swap includes a debit to interest expense for 14. On January 1, a company had beginning balances in Retained Earnings and Common Stock of $39,000 and $78,540, respectively. During the year, $26,560 in additional common stock was issued, and $17,300 in dividends were paid. If net income was $32,500, the ending balance of total stockholders' equity is 5 15. On March 1, ABC enters into a futures contract to buy 1,000 barrels of oil for $65.35 each. If the spot price on March 31 is $68.70, ABC's quarterly financial statements on March 31 will include a gain in other comprehensive income of