$224,800 | |
Net income before security gains or losses | $94,800 |
Investment in debt securities ($37,700 - $36,700) | $1,000 |
Investment in Chen Company stock ($834,200 - $730,600) | $103,600 |
Bonds Payable ($237,500 - $212,100) | $25,400 |
Net Income | $224,800 |
this will be my third time posting rhis and everyone gave me the same answer......$224,000 is...
need help with part A
Exercise 17-21 Your answer is partially correct. Try again. Presented below is selected information related to the financial instruments of Headland Company at December 31, 2017. This is Head and Compa Fair Value (at December Carrying Investment in debt securities (intent is to hold to maturity) Investment in Chen Company stock Bonds payable $36,700 730,600 237.500 $37.700 834,200 212.100 . 2017 bereporting (a) Headland elects to use the fair value option for these financial instruments...
CALORAO PRINV ON BACK Exercise 17-21 Presented below is selected information related to the financial instruments of Headiand Company at December 31, 2017. This is Headand Company's first year of operations Fair Value (at December 31) Carrying Amount Investment in debt securities (intent is to hold to maturity) Investment in Chen Company stock Bonds payable $36,700 $37,700 834.200 730,600 237,500 212.100 a) Headiand elects to use the fair value option for these financial instruments (the fair value opttion for financial...
Presented below is selected information related to the financial instruments of Sweet Company at December 31, 2020. This is Sweet Company's first year of operations. Investment in debt securities (intent is to hold to maturity) Investment in Chen Company stock Bonds payable Carrying Fair Value Amount (at December 31) $41,800 $42,700 784,000 893,200 234.900 210,900 (a) Sweet elects to use the fair value option for these investments. Assuming that Sweet's net income is $93,500 in 2020 before reporting any securities...
Exerdse 17-21 Your answer is partally conrect. Try again. Presented below is selected Information related to the financlal Instruments of Sweet Company at December 31, 2017, This is Sweet Company's first year of operations, Fair Value Carrying (at December Amount nvestment in debt securities intent is to hold to maturity nvestment in Chen Company stock Bonds payable 07,200$38,000 917,500 37,800 (a) Sweet elects to use the fair value option for these f ue aption far financial liabilities is discussed in...
Headland Company commonly issues long-term notes payable to its various lenders. Headland has had a pretty good credit rating such that its effective borrowing rate is quite low (less than 8% on an annual basis). Headland has elected to use the fair value option for the long-term notes issued to Barclay’s Bank and has the following data related to the carrying and fair value for these notes. Any changes in fair value are due to changes in market rates, not...
Presented below is selected information related to the financial instruments of Whispering Company at December 31, 2020. This is Whispering Company’s first year of operations. Carrying Amount Fair Value (at December 31) Investment in debt securities (intent is to hold to maturity) $41,500 $42,600 Investment in Chen Company stock 874,600 991,000 Bonds payable 202,900 179,200 (a) Whispering elects to use the fair value option for these investments. Assuming that Whispering’s net income is $106,400 in 2020 before reporting any securities...
Brief Exercise 17-4 Headland Corporation purchased trading Investment bonds for $63,000 at par. At December 31, Headland received annual interest of $2,520, and the fair value of the bonds was $50.100. Prepare Headland's journal entries for (a) the purchase of the investment, b) the interest received and to the fair value adjustment. Assume a zero balance in the Fair value Adjustment account.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is...
veet Corp. carries an account in its general ledger called Investments, which contained debits for investment archases, and no credits, with the following descriptions. $38,500 eb. 1, 2017 April 1 Sharapova Company common stock, $80 par, 160 shares U.S. government bonds, 12%, due April 1, 2027, interest payable April 1 and October 1, 108 bonds of $1,000 par each McGrath Company 12% bonds, par $53,300, dated March 1, 2017, purchased at 104 plus accrued interest, interest payable annually on March...
Coronado Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions. Feb. 1, 2017 Sharapova Company common stock, $80 par, 160 shares $38,600 April 1 U.S. government bonds, 12%, due April 1, 2027, interest payable April 1 and October 1, 108 bonds of $1,000 par each 108,000 July 1 McGrath Company 12% bonds, par $48,600, dated March 1, 2017, purchased at 104 plus accrued interest, interest payable...
Sweet Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions. $38,500 Sharapova Company common stock, $80 par, 160 shares Feb. 1, 2017 U.S. government bonds, 12%, due April 1, 2027, interest payable April 1 and October 1, 108 bonds of $1,000 par each April 1 108,000 McGrath Company 12% bonds, par $53,300, dated March 1, 2017, purchased at 104 plus accrued interest, interest payable annually on...