Oriole Carecenters Inc. provides financing and capital to the healthcare industry, with a particular focus on...
Oriole Carecenters Inc. provides financing and capital to the
healthcare industry, with a particular focus on nursing homes for
the elderly. The following selected transactions relate to bonds
acquired as an investment by Oriole, whose fiscal year ends on
December 31.
| 2020 | ||
| Jan. 1 | Purchased at face value $1,628,000 of Javier Nursing Centers, Inc., 10-year, 10% bonds dated January 1, 2017, directly from Javier. | |
| Dec. 31 | Accrual of interest at year-end on the Javier bonds. |
(Assume that all intervening transactions and adjustments have been
properly recorded and that the number of bonds owned has not
changed from December 31, 2020, to December 31, 2022.)
| 2023 | ||
| Jan. 1 | Received the annual interest on the Javier bonds. | |
| Jan. 1 | Sold $814,000 Javier bonds at 105. | |
| Dec. 31 | Accrual of interest at year-end on the Javier bonds. |
Based on your analysis in part (b), show the balance sheet presentation of the bonds and interest receivable at December 31, 2020. Assume the investments are considered long-term. Indicate where any unrealized gain or loss is reported in the financial statements.
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Oriole Carecenters Inc. provides financing and capital to the
healthcare industry, with a particular focus on...
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please do calculate bond amortization cost as well, as its not
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Need assistance please
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