MA-4 (Static) Recording a Bond Investment Held as Trading Securities LO A-1 On January 1, 2018,...
MA-4 (Static) Recording a Bond Investment Held as Trading Securities LO A-1
On January 1, 2018, Brian Company purchased at par $800,000, 6
percent bonds issued by Laura Company to be actively traded. At
December 31, 2018, the bonds had a fair value of $775,000. The bond
investment was sold on July 1, 2019, for $802,000. Brian Company’s
fiscal year ends on December 31.
Record (1) the adjustment of the bond investment on December 31,
2018, and (2) the sale of the bonds on July 1, 2019. Ignore
interest. (If no entry is required for a transaction/event,
select "No journal entry required" in the first account
field.)
1. Recognize the fair value of investments $775,000 on December 31, 2018.
2. Recognize the fair value of investments on July 01, 2019.
3. Recognize the cash received from sale of investments on July 01, 2019.
Date/General Journal/Debit/Credit/
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MA-4 (Static) Recording a Bond Investment Held as Trading
Securities LO A-1
On January 1, 2018,...
MA-6 (Static) Determining Financial Statement Effects of Trading Securities Transactions LOA-1 On January 1, 2018, Brian...
MA-6 (Static) Determining Financial Statement Effects of Trading Securities Transactions LOA-1 On January 1, 2018, Brian Company purchased at par $800,000, 6 percent bonds issued by Laura Company to be actively traded. At December 31, 2018, the bonds had a fair value of $775,000. The bond investment was sold on July 1, 2019, for $802,000. Brian Company’s fiscal year ends on December 31. Using the following categories, indicate the effects of the transactions listed above. (Enter a positive value for...
Exercise 12-10 Available-for-sale securities [LO12-1, 12-4] Tanner-UNF Corporation acquired as a long-term investment $2...
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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,...
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Tanner-UNF Corporation acquired as a long-term investment $245 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. Tann...
Tanner-UNF Corporation acquired as a long-term investment $245 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 $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 $205...
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...
Exercise 12-1 Securities held-to-maturity; bond investment; effective interest, discount [LO12-1] Tanner-UNF Corporation acquired as a long-term...
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E 12-2 Securities held-to-maturity; bond investment; effective interest, premium LO12-1 Mills Corporation acquired as a long-term...
E 12-2 Securities held-to-maturity; bond investment; effective interest, premium LO12-1 Mills Corporation acquired as a long-term investment $240 million of 6% bonds, dated July 1, on July 1, 2018. Company management has the positive intent and ability to hold the bonds until maturity. The market interest rate (yield) was 4% for bonds of similar risk and maturity. Mills paid $280 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of...
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,...
Exercise 12-10 Available-for-sale securities [LO12-1, 12-4] Tanner-UNF Corporation acquired as a long-term investment $240 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 $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...
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...
Exercise 12.2 Securities held-to-maturity: bond investment; effective interest, premium (LO12-1) Mills Corporation acquired as a long-term investment $240 million of x bonds, dated July 1. on July 2018. Company management has positive intent and ability to hold the bonds until maturity. The market interest rate (yield was 4% for bonds of similar risk and maturity Mills paid $280 million for the bonds. The company will recewe interest semiannually on June 30 and December 31 As a result of changing market...
E 12-2 Securities held-to-maturity; bond investment; effective interest, premium LO12-1 Mills Corporation acquired as a long-term investment $240 million of 6% bonds, dated July 1, on July 1, 2018. Company management has the positive intent and ability to hold the bonds until maturity. The market interest rate (yield) was 4% for bonds of similar risk and maturity. Mills paid $280 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of...
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,...
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