Homework Answers
1. Fair value of Eastwood's investment in Van Cleef's bonds = 400 x $900 = $360000
2.
| Transaction | General Journal | Debit | Credit |
| 1 | Unrealized holding loss - OCI* | 40000 | |
| Fair value adjustment | 40000 | ||
| (To record the investment at fair value) |
*Unrealized holding loss = 400 x ($1000 - $900) = 400 x $100 = $40000
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Eastwood Enterprises owns 400 bonds of the Van Cleef Company (5% of the outstanding debt of...
Eastwood Enterprises owns 360 bonds of the Van Cleef Company (5% of the outstanding debt of...
Eastwood Enterprises owns 360 bonds of the Van Cleef Company (5% of the outstanding debt of Van Cleef). Eastwood is trying to determine the fair value of Van Cleef's bonds. The relevant facts are as follows: • Eastwood bought the Van Cleef bonds earlier in the accounting period for $1,000/bond at a time when the bonds were publicly traded. . Since Eastwood bought the bonds, Van Cleef Company has been delisted from the stock exchange and there is no longer...
TB Problem 12-151 (Algo) Eastwood Enterprises owns 400 bonds of the Van Cleef Company (5% of...
TB Problem 12-151 (Algo) Eastwood Enterprises owns 400 bonds of the Van Cleef Company (5% of the outstanding debt of Van Cleef). Eastwood is trying to determine the fair value of Van Cleef's bonds. The relevant facts are as follows: • Eastwood bought the Van Cleef bonds earlier in the accounting period for $1,000/bond at a time when the bonds were publicly traded . Since Eastwood bought the bonds, Van Cleef Company has been delisted from the stock exchange and...
Tanner-UNF Corporation acquired as a long-term investment $240 million of 6% bonds, dated July 1, on...
Tanner-UNF Corporation acquired as a long-term investment $240 million of 6% bonds, dated July 1, on July 1, 2021. Company management has classified the bonds as an available-for-sale investment. The market interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $200 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2021, was...
Tanner-UNF Corporation acquired as a long-term investment $300 million of 6% bonds , dated July 1,...
Tanner-UNF Corporation acquired as a long-term investment $300 million of 6% bonds , dated July 1, on July 1, 2018. The market interest rate (yield) was 8 % for bonds of similar risk and maturity. Tanner-UNF paid $250 million for the bonds. The company will receive interest semiannually on June 30 and December 31. Company management has classified the bonds as available-for-sale investments. As a result of changing market cond itions, the fair value of the bonds at December 31,...
Tanner-UNF Corporation acquired as a long-term investment $300 million of 7% bonds, dated July 1, on...
Tanner-UNF Corporation acquired as a long-term investment $300 million of 7% bonds, dated July 1, on July 1, 2018. The market interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $280 million for the bonds. The company will receive interest semiannually on June 30 and December 31. Company management has classified the bonds as available for sale investments. As a result of changing market conditions, the fair value of the bonds at December 31, 2018,...
Tanner-UNF Corporation acquired as a long-term investment $240 million of 6% bonds, dated July 1, on...
Tanner-UNF Corporation acquired as a long-term investment $240
million of 6% bonds, dated July 1, on July 1, 2018. The market
interest rate (yield) was 8% for bonds of similar risk and
maturity. Tanner-UNF paid $200 million for the bonds. The company
will receive interest semiannually on June 30 and December 31.
Company management has classified the bonds as available-for-sale
investments. As a result of changing market conditions, the fair
value of the bonds at December 31, 2018, was $210...
Tanner-UNF Corporation acquired as a long-term investment $250 million of 8% bonds, dated July 1, on...
Tanner-UNF Corporation acquired as a long-term investment $250 million of 8% bonds, dated July 1, on July 1, 2021. Company management has classified the bonds as an available for sale investment. The market interest rate field) was 10% for bonds of similar risk and maturity. Tanner-UNF paid $210 million for the bonds. The company will recelve Interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31,...
Tanner-UNF Corporation acquired as a long-term investment $225 million of 8% bonds, dated July 1, on...
Tanner-UNF Corporation acquired as a long-term investment $225
million of 8% bonds, dated July 1, on July 1, 2018. The market
interest rate (yield) was 10% for bonds of similar risk and
maturity. Tanner-UNF paid $180 million for the bonds. The company
will receive interest semiannually on June 30 and December 31.
Company management has classified the bonds as available-for-sale
investments. As a result of changing market conditions, the fair
value of the bonds at December 31, 2018, was $190...
Only need the answers for fhe second journal entry on number 4. Tanner-UNF Corporation acquired as...
Only need the answers for fhe second journal entry on number
4.
Tanner-UNF Corporation acquired as a long-term investment $300 million of 6% bonds, dated July 1, on July 1, 2018. The market Interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $250 million for the bonds. The company will receive interest semiannually on June 30 and December 31. Company management has classified the bonds as available for sale investments. As a result of changing...
Only need the answers for fhe second journal entry on number 4. Tanner-UNF Corporation acquired as...
Only need the answers for fhe second journal entry on number
4.
Tanner-UNF Corporation acquired as a long-term investment $300 million of 6% bonds, dated July 1, on July 1, 2018. The market Interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $250 million for the bonds. The company will receive interest semiannually on June 30 and December 31. Company management has classified the bonds as available for sale investments. As a result of changing...
Eastwood Enterprises owns 360 bonds of the Van Cleef Company (5% of the outstanding debt of Van Cleef). Eastwood is trying to determine the fair value of Van Cleef's bonds. The relevant facts are as follows: • Eastwood bought the Van Cleef bonds earlier in the accounting period for $1,000/bond at a time when the bonds were publicly traded. . Since Eastwood bought the bonds, Van Cleef Company has been delisted from the stock exchange and there is no longer...
TB Problem 12-151 (Algo) Eastwood Enterprises owns 400 bonds of the Van Cleef Company (5% of the outstanding debt of Van Cleef). Eastwood is trying to determine the fair value of Van Cleef's bonds. The relevant facts are as follows: • Eastwood bought the Van Cleef bonds earlier in the accounting period for $1,000/bond at a time when the bonds were publicly traded . Since Eastwood bought the bonds, Van Cleef Company has been delisted from the stock exchange and...
Tanner-UNF Corporation acquired as a long-term investment $240 million of 6% bonds, dated July 1, on July 1, 2021. Company management has classified the bonds as an available-for-sale investment. The market interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $200 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2021, was...
Tanner-UNF Corporation acquired as a long-term investment $300 million of 6% bonds , dated July 1, on July 1, 2018. The market interest rate (yield) was 8 % for bonds of similar risk and maturity. Tanner-UNF paid $250 million for the bonds. The company will receive interest semiannually on June 30 and December 31. Company management has classified the bonds as available-for-sale investments. As a result of changing market cond itions, the fair value of the bonds at December 31,...
Tanner-UNF Corporation acquired as a long-term investment $300 million of 7% bonds, dated July 1, on July 1, 2018. The market interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $280 million for the bonds. The company will receive interest semiannually on June 30 and December 31. Company management has classified the bonds as available for sale investments. As a result of changing market conditions, the fair value of the bonds at December 31, 2018,...
Tanner-UNF Corporation acquired as a long-term investment $240
million of 6% bonds, dated July 1, on July 1, 2018. The market
interest rate (yield) was 8% for bonds of similar risk and
maturity. Tanner-UNF paid $200 million for the bonds. The company
will receive interest semiannually on June 30 and December 31.
Company management has classified the bonds as available-for-sale
investments. As a result of changing market conditions, the fair
value of the bonds at December 31, 2018, was $210...
Tanner-UNF Corporation acquired as a long-term investment $250 million of 8% bonds, dated July 1, on July 1, 2021. Company management has classified the bonds as an available for sale investment. The market interest rate field) was 10% for bonds of similar risk and maturity. Tanner-UNF paid $210 million for the bonds. The company will recelve Interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31,...
Tanner-UNF Corporation acquired as a long-term investment $225
million of 8% bonds, dated July 1, on July 1, 2018. The market
interest rate (yield) was 10% for bonds of similar risk and
maturity. Tanner-UNF paid $180 million for the bonds. The company
will receive interest semiannually on June 30 and December 31.
Company management has classified the bonds as available-for-sale
investments. As a result of changing market conditions, the fair
value of the bonds at December 31, 2018, was $190...
Only need the answers for fhe second journal entry on number
4.
Tanner-UNF Corporation acquired as a long-term investment $300 million of 6% bonds, dated July 1, on July 1, 2018. The market Interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $250 million for the bonds. The company will receive interest semiannually on June 30 and December 31. Company management has classified the bonds as available for sale investments. As a result of changing...
Only need the answers for fhe second journal entry on number
4.
Tanner-UNF Corporation acquired as a long-term investment $300 million of 6% bonds, dated July 1, on July 1, 2018. The market Interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $250 million for the bonds. The company will receive interest semiannually on June 30 and December 31. Company management has classified the bonds as available for sale investments. As a result of changing...
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