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Use the following information about Umbrella Corporation to answer the next three questions. On April 4, 2022, Umbrella Corporation purchased 400 shares of Alphabet, Inc.
Use the following information about Umbrella Corporation to answer the next three questions. On April 4, 2022, Umbrella Corporation purchased 400 shares of Alphabet, Inc. stock (the parent company of Google) for $2,859 per share and classified the investment as TRADING. On April 30, 2022, Alphabet stock was trading at $2,332 per share, and on May 23, 2022, Alphabet stock was trading at $2,230 per share. 3. The Investment in Alphabet will be shown on Umbrella Corporation's April 30, 2022 Balance Sheets for: a. $1,143,600 b. $1,038,200 c. $932,800 d. $892,000 4. The Unrealized Gain or Unrealized Loss on this trading investment will be shown on Umbrella Corporation's April 2022 Income Statement for: a. $251,600 unrealized loss b. $210,800 unrealized loss c. $40,800 unrealized loss d. $105,400 unrealized gain 8. CRS Company borrowed $46,000 cash on May 1, 2022, and signed a nine-month, 10%, note payable with interest payable at maturity. Assuming that adjusting entries have been made during the year, the amount of accrued interest payable to be reported on the December 31, 2022 balance sheet is? Round answer to the nearest dollar. a. $4,600 b. $4,089 c. $3,450 d. $3,067 c. $2,300 9. Bear Company borrowed $42,000 cash on June 1, 2022, and signed a ten-month, 7%, note payable with interest payable at maturity. What is the amount of total interest expense on this note? Round answer to the nearest dollar. a. $2,940 b. $2,450 c. $2,058 d. $1,715 c. $1,470
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