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forget it Spreadsheet 8 - Investment in bonds/trading securities Hinton Company purchased bonds as an trading...
The balance in the Bonds Payable is a credit of $78,000. The balance in the Premium...
The balance in the Bonds Payable is a credit of $78,000. The balance in the Premium on Bonds Payable is a credit of $1,200. What is the bond carrying amount? O A. $1,200 OB. $79,200 OC. $76,800 OD. $78,000 Global Commerce Corporation purchased trading debt investments for $114,000 on December 31, 2018. There is a decrease of $5,800 in the fair value of the trading debt investments by the end of the year 2019. Which of the following is the...
Oliver Corporation 4% bonds, purchased at face value, with an amortized cost of $2,950,000, classified as...
Oliver Corporation 4% bonds, purchased at face value, with an amortized cost of $2,950,000, classified as a trading security. Because of unrealized losses prior to 2021, the Oliver bonds have a fair value adjustment account with a credit balance of $350,000, such that the carrying value of the Oliver investment is $2,600,000 prior to making any adjusting entries in 2021. At December 31, 2021, the Oliver investment had a fair value of $2,350,000, and Stewart calculated that $270,000 of the...
On January 1, 2018, Hoosier Company purchased $948,000 of 10% bonds at face value. The bond...
On January 1, 2018, Hoosier Company purchased $948,000 of 10% bonds at face value. The bond market value was $989,000 on December 31, 2018. Required: Prepare the appropriate Journal entry on December 31, 2018, to properly value the bonds assuming the bonds are classified as: (If no entry is required for a transaction/event, select "No Journal entry required in the first account field.) 1. Trading securities. 2. Securities available for sale. 3. Held-to-maturity securities. View transaction list View journal entry...
Stock Investment Transactions, Trading Securities Zeus Investments Inc. is a regional investment company that began operations...
Stock Investment Transactions, Trading Securities Zeus Investments Inc. is a regional investment company that began operations on January 1, Year 1. The following transactions relate to trading securities acquired by Zeus Investments Inc., which has a fiscal year ending on December 31: Year 1 Feb. 14. Purchased 3,200 shares of Apollo Inc. as a trading security at $36 per share plus a brokerage commission of $640. Apr. 1. Purchased 1,500 shares of Ares Inc. as a trading security at $14...
Check B Exercise 12-6 (Algo) Trading securities (L012-1, 12-3) Mills Corporation acquired as an investment $200...
Check B Exercise 12-6 (Algo) Trading securities (L012-1, 12-3) Mills Corporation acquired as an investment $200 million of 7% bonds, dated July 1, on July 1, 2021. Company management is holding the bonds in its trading portfolio. The market interest rate yield) was 5% for bonds of similar risk and maturity. Mills paid $240 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...
Exercise 12-5 Trading securities (LO12-2] Tanner-UNF Corporation acquired as a long-term investment $240 million of 6%...
Exercise 12-5 Trading securities (LO12-2] 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 bands The company will receive interest semiannually on June 30 and December 31 Company management is holding the bonds in its trading portfolio. As a result of changing market conditions, the fair value of the bonds...
Stewart Enterprises has the following investments, all purchased prior to 2018: Bee Company 5% bonds, purchased...
Stewart Enterprises has the following investments, all purchased prior to 2018: Bee Company 5% bonds, purchased at face value, with an amortized cost of $4,000,000, and classified as held to maturity. At December 31, 2018, the Bee investment had a fair value of $3,500,000, and Stewart calculated that $240,000 of the fair value decline is a credit loss and $260,000 is a noncredit loss. At December 31, 2019. the Bee investment had a fair value of $3,700,000, and Stewart calculated...
10:08 AM Thu Feb 20 437% a Aas 1. Bee Company 5% bonds, purchased at face...
10:08 AM Thu Feb 20 437% a Aas 1. Bee Company 5% bonds, purchased at face value, with an amortized cost of $4,000,000, and classified as held to maturity. At December 31, 2018, the Bee investment had a fair value of $3,500,000, and Stewart calculated that S240,000 of the fair value decline is a credit loss and $260,000 is a noncredit loss. At December 31, 2019, the Bee investment had a fair value of $3,700,000, and Stewart calculated that $140,000...
Rantzow-Lear Company buys and sells debt securities expecting to earn profits on short-term differences in price....
Rantzow-Lear Company buys and sells debt securities expecting to earn profits on short-term differences in price. The company's fiscal year ends on December 31. The following selected transactions relating to Rantzow-Lear's trading account occurred during December 2018 and the first week of 2019. 2018 Dec. 17 Purchased 180 Grocers' Supply Corporation bonds for $450,000. 28 Received interest of $5,200 from the Grocers' Supply Corporation bonds. 31 Recorded any necessary adjusting entry relating to the Grocers' Supply Corporation bonds. The market...
American Surety and Fidelity buys and sells securities expecting to earn profits on short-term differences in...
American Surety and Fidelity buys and sells securities expecting
to earn profits on short-term differences in price. For the first
11 months of 2018, gains from selling trading securities totaled $4
million, losses were $11 million, and the company had earned $5
million in investment revenue. The following selected transactions
relate to American's trading account and equity securities
investment account during December 2018, and the first week of
2019. The company's fiscal year ends on December 31. No trading
securities...
The balance in the Bonds Payable is a credit of $78,000. The balance in the Premium on Bonds Payable is a credit of $1,200. What is the bond carrying amount? O A. $1,200 OB. $79,200 OC. $76,800 OD. $78,000 Global Commerce Corporation purchased trading debt investments for $114,000 on December 31, 2018. There is a decrease of $5,800 in the fair value of the trading debt investments by the end of the year 2019. Which of the following is the...
Oliver Corporation 4% bonds, purchased at face value, with an amortized cost of $2,950,000, classified as a trading security. Because of unrealized losses prior to 2021, the Oliver bonds have a fair value adjustment account with a credit balance of $350,000, such that the carrying value of the Oliver investment is $2,600,000 prior to making any adjusting entries in 2021. At December 31, 2021, the Oliver investment had a fair value of $2,350,000, and Stewart calculated that $270,000 of the...
On January 1, 2018, Hoosier Company purchased $948,000 of 10% bonds at face value. The bond market value was $989,000 on December 31, 2018. Required: Prepare the appropriate Journal entry on December 31, 2018, to properly value the bonds assuming the bonds are classified as: (If no entry is required for a transaction/event, select "No Journal entry required in the first account field.) 1. Trading securities. 2. Securities available for sale. 3. Held-to-maturity securities. View transaction list View journal entry...
Stock Investment Transactions, Trading Securities Zeus Investments Inc. is a regional investment company that began operations on January 1, Year 1. The following transactions relate to trading securities acquired by Zeus Investments Inc., which has a fiscal year ending on December 31: Year 1 Feb. 14. Purchased 3,200 shares of Apollo Inc. as a trading security at $36 per share plus a brokerage commission of $640. Apr. 1. Purchased 1,500 shares of Ares Inc. as a trading security at $14...
Check B Exercise 12-6 (Algo) Trading securities (L012-1, 12-3) Mills Corporation acquired as an investment $200 million of 7% bonds, dated July 1, on July 1, 2021. Company management is holding the bonds in its trading portfolio. The market interest rate yield) was 5% for bonds of similar risk and maturity. Mills paid $240 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...
Exercise 12-5 Trading securities (LO12-2] 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 bands The company will receive interest semiannually on June 30 and December 31 Company management is holding the bonds in its trading portfolio. As a result of changing market conditions, the fair value of the bonds...
Stewart Enterprises has the following investments, all purchased prior to 2018: Bee Company 5% bonds, purchased at face value, with an amortized cost of $4,000,000, and classified as held to maturity. At December 31, 2018, the Bee investment had a fair value of $3,500,000, and Stewart calculated that $240,000 of the fair value decline is a credit loss and $260,000 is a noncredit loss. At December 31, 2019. the Bee investment had a fair value of $3,700,000, and Stewart calculated...
10:08 AM Thu Feb 20 437% a Aas 1. Bee Company 5% bonds, purchased at face value, with an amortized cost of $4,000,000, and classified as held to maturity. At December 31, 2018, the Bee investment had a fair value of $3,500,000, and Stewart calculated that S240,000 of the fair value decline is a credit loss and $260,000 is a noncredit loss. At December 31, 2019, the Bee investment had a fair value of $3,700,000, and Stewart calculated that $140,000...
Rantzow-Lear Company buys and sells debt securities expecting to earn profits on short-term differences in price. The company's fiscal year ends on December 31. The following selected transactions relating to Rantzow-Lear's trading account occurred during December 2018 and the first week of 2019. 2018 Dec. 17 Purchased 180 Grocers' Supply Corporation bonds for $450,000. 28 Received interest of $5,200 from the Grocers' Supply Corporation bonds. 31 Recorded any necessary adjusting entry relating to the Grocers' Supply Corporation bonds. The market...
American Surety and Fidelity buys and sells securities expecting
to earn profits on short-term differences in price. For the first
11 months of 2018, gains from selling trading securities totaled $4
million, losses were $11 million, and the company had earned $5
million in investment revenue. The following selected transactions
relate to American's trading account and equity securities
investment account during December 2018, and the first week of
2019. The company's fiscal year ends on December 31. No trading
securities...
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