Question

Tanner-UNF Corporation acquired as a long-term investment $220 million of 6% bonds, dated July 1, on July 1, 2021. Company ma
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Required 1&2 & in millions Date particulars Debit 1 1.07.2021 Investment in bonds $220 $30 Discount on bonds investment CashNote: 31.12.2021 Cash - $ 220 x 6] x cm $6.6 Interest Revenue $19088./.xG 12 $ 7.6 Discount on bond invernment = $7.6$6.6

Add a comment
Know the answer?
Add Answer to:
Tanner-UNF Corporation acquired as a long-term investment $220 million of 6% bonds, dated July 1, on...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • 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 $235 million of 8% bonds, dated July 1, on...

    Tanner-UNF Corporation acquired as a long-term investment $235 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 (yield) was 10% 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 $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 $260 million of 6% bonds, dated July 1, on July 1, 2018.

    Tanner-UNF Corporation acquired as a long-term investment $260 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 $220 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 $230 million of 8% bonds, dated July 1, on...

    Tanner-UNF Corporation acquired as a long-term investment $230 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 (yield) was 10% for bonds of similar risk and maturity. Tanner-UNF paid $210 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 an investment $220 million of 6% bonds, dated July 1, on July...

    Tanner-UNF Corporation acquired as an investment $220 million of 6% bonds, dated July 1, on July 1, 2021. Company management is holding the bonds in its trading portfolio. The market interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $190 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 $200...

  • 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 $260 million of 6% bonds, dated July 1, on...

    Tanner-UNF Corporation acquired as a long-term investment $260 million of 6% bonds, dated July 1, on July 1, 2021. Company management has the positive intent and ability to hold the bonds until maturity, but when the bonds were acquired Tanner-UNF decided to elect the fair value option for accounting for its investment. The market interest rate (yield) was 9% for bonds of similar risk and maturity. Tanner-UNF paid $220 million for the bonds. The company will receive interest semiannually on...

  • Tanner-UNF Corporation acquired as a long-term investment $340 million of 6% bonds, dated July 1, on...

    Tanner-UNF Corporation acquired as a long-term investment $340 million of 6% bonds, dated July 1, on July 1, 2021. Company management has the positive intent and ability to hold the bonds until maturity, but when the bonds were acquired Tanner-UNF decided to elect the fair value option for accounting for its investment. The market interest rate (yield) was 9% for bonds of similar risk and maturity. Tanner-UNF paid $310 million for the bonds. The company will receive interest semiannually on...

  • 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 the positive intent and ability to hold the bonds until maturity. The market interest rate lyield) 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...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT