Use the Following Information for Questions

question 9

Multiple Choice

Use the following information for questions . On January 2, 2013 Pell borrowed $240,000 and used the proceeds to purchase 90% of the outstanding common stock of Sand.This debt is payable in 10 equal annual principal payments, plus interest, starting December 30, 2013.Any difference between book value and the value implied by the purchase price relates to land.
On Pell's January 2, 2013 consolidated balance sheet,
-Noncurrent liabilities should be

• A)$440,000.
• B)$416,000.
• C)$240,000.
• D)$216,000.

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Definitions:

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An influential African American abolitionist, attorney, educator, and politician known for his advocacy for the rights of blacks.

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The bicameral legislature of the United States government, consisting of the Senate and the House of Representatives.

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An archipelago in the central Pacific Ocean, constituting the 50th state of the United States, known for its rich cultural heritage and natural beauty.

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A conflict in 1898 between Spain and the United States, resulting from U.S. intervention in the Cuban War of Independence.