Journal Entries- Nimble's Investment | |||
Date | Particulars | Debit | Credit |
5-Jan | Available for sale- Debt investment | $525,000.00 | |
Cash | $525,000.00 | ||
TO Record investment made in Van Company | |||
30-Jun | Cash (525000*3%*6/12) | $7,875.00 | |
Interest Revenue | $7,875.00 | ||
To Record Interest Received | |||
31-Dec | Cash | $7,875.00 | |
Interest Revenue | $7,875.00 | ||
To Record Interest Received | |||
31-Dec | Unrealised holding loss -Available for sale | $10,000.00 | |
Fair value adjustment (525000-515000) | $10,000.00 | ||
To Record Fair Value Adjustment |
Balance Sheet (Partial)- Nimble Investment | |
Long term assets | |
Available for sale debt investment (at fair value) | $515,000.00 |
Income Statement- Nimble Investment | |
Net income | $360,000.00 |
Other Income/expenses | |
unrealised holding loss | -$10,000.00 |
Interest Revenue | $15,750.00 |
Comprehensive income | $365,750.00 |
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Nimble Investments completed the following investment transactions during 2018 (Click the icon to view the investment...
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Patton investments completed the following investment
transactions during 2018
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transactions during 2018: b. Disposition of them E15-11 Accounting for debt investments Peyton Investments completed the following investment transactions durin 2018 ond at face value. Peyton The Vedder bond pays Jan. 5 Purchased Vedder Company's $400,000 bond at face value. Per classified the investment as available-for-sale. The Vedder bor interest at the annual rate of 4% on June 30 and December 31 matures on December 31, 2021. Management's intent is to keep the bonds for several years. Jun. 30 Received...
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