JP Acquired a Tract of Land and Paid for It

question 106

Multiple Choice

JP acquired a tract of land and paid for it in full by issuing (A) $400,000 of its 9 percent bonds payable after a year and (B) 50,000 of its common shares. The shares were selling at $17.82 per share. The land should be recorded at a cost of (rounded to the nearest thousands) :

• A) $832,000.
• B) $900,000.
• C) $1,258,000.
• D) $1,284,000.

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Definitions:

Statutory Rape

Consensual sexual intercourse with a person under the age of consent.

Sexual Assaults

Any type of sexual contact or behavior that occurs without the explicit consent of the recipient, ranging from unwanted touching to rape.

Consent

The agreement to participate in a sexual activity, can only be given by an individual who has the legal and mental capacity to make informed decisions.

Cousin

A relative with whom a person shares one or more common ancestors, but typically not a direct parent or sibling.