Live Large Inc. had the following transactions involving non-strategic investments during 2020.   2020     Apr. 1   Paid $119,000 to buy a 90-day term deposit, $119,000 principal amount, 7.0%, dated April 1.   12   Purchased 4,900 common shares of Blue Balloon Ltd. at $22.50. June 9   Purchased 3,700 common shares

Live Large Inc. had the following transactions involving non-strategic investments during 2020. 2020     Apr. 1   Paid $119,000 to buy a 90-day term deposit, $119,000 principal amount, 7.0%, dated April 1.   12   Purchased 4,900 common shares of Blue Balloon Ltd. at $22.50. June 9   Purchased 3,700 common shares of Purple Car Corp. at $51.50.   20   Purchased 1,650 common shares of Yellow Tech Ltd. at $16.00. July 1   Purchased for $86,894 a 9.0%, $84,000 Space Explore Inc. bond that matures in eight years when the market interest rate was 8.4%. Interest is paid semiannually beginning December 31, 2020. Live Large Inc. plans to hold this investment until maturity.   3   Received a cheque for the principal and accrued interest on the term deposit that matured on June 30.   15   Received a $0.95 per share cash dividend on the Blue Balloon Ltd. common shares.   28   Sold 2,450 of the Blue Balloon Ltd. common shares at $26.25. Sept. 1   Received a $3.00 per share cash…

The following information is available about Ayayai Corp.'s investments at December 31, 2023. This is the first year Ayayai has purchased securities for investment purposes. Securities 2,500 shares of Petra Corporation common shares 900 shares of Dugald Inc. preferred shares Ayayai follows IFRS. (a) Cost Account Titles and Explanation $25,000 18,000 $43,000 Fair Value $30,000 16,000 $46,000 Prepare the adjusting entry for December 31, 2023, assuming the investments are acquired for trading purposes and accounted for using the FV-NI model with no separate reporting of dividends and other types of FV-NI investment income and losses. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Debit Credit

Q1: How much is the investment income on 2021? Q2: How much is the carrying amount of the Investment in Associate as of December 31, 2021?

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Live Large Inc. had the following transactions involving non-strategic investments during 2020.  2020     Apr. 1   Paid $119,000 to buy a 90-day term deposit, $119,000 principal amount, 7.0%, dated April 1.   12   Purchased 4,900 common shares of Blue Balloon Ltd. at $22.50. June 9   Purchased 3,700 common shares of Purple Car Corp. at $51.50.   20   Purchased 1,650 common shares of Yellow Tech Ltd. at $16.00. July 1   Purchased for $86,894 a 9.0%, $84,000 Space Explore Inc. bond that matures in eight years when the market interest rate was 8.4%. Interest is paid semiannually beginning December 31, 2020. Live Large Inc. plans to hold this investment until maturity.   3   Received a cheque for the principal and accrued interest on the term deposit that matured on June 30.   15   Received a $0.95 per share cash dividend on the Blue Balloon Ltd. common shares.   28   Sold 2,450 of the Blue Balloon Ltd. common shares at $26.25. Sept. 1   Received a $3.00 per share cash…

On January 1, 2020, Swifty Corporation purchased 37% of the common stock outstanding of Cullumber Corporation for $610000. During 2020, Cullumber Corporation reported net income of $180000 and paid cash dividends of $120000. The balance of the Stock Investments-Cullumber account on the books of Swifty Corporation at December 31, 2020 is $610000. O $565600. O $632200. O $676600. eTextbook and Media Save for Later Attempts: 0 of 2 used Submit Answer 2$ & 7 8 9 4. y f h b n m alt

Penta Company purchased 1,000 bonds of Gone Company in 2018 for $810 per bond and classified the investment as securities available-for-sale. The value of these holdings was $272 per bond on December 31, 2019, and $421 per bond on December 31, 2020. During 2021, Penta sold all of its Gone bonds at $390 per bond. In its 2021 income statement, Penta would report: 53 Multiple Choice A trading gain of $31,000 and an unrealized holding loss of $390,00. A loss on the sale of investments of $420,000. A realized gain of $31,00O. A recognition of unrealized holding losses of $272,00o. 7 of 16 Next >

Live Large Inc. had the following transactions involving non-strategic investments during 2020.  2020     Apr. 1   Paid $119,000 to buy a 90-day term deposit, $119,000 principal amount, 7.0%, dated April 1.   12   Purchased 4,900 common shares of Blue Balloon Ltd. at $22.50. June 9   Purchased 3,700 common shares of Purple Car Corp. at $51.50.   20   Purchased 1,650 common shares of Yellow Tech Ltd. at $16.00. July 1   Purchased for $86,894 a 9.0%, $84,000 Space Explore Inc. bond that matures in eight years when the market interest rate was 8.4%. Interest is paid semiannually beginning December 31, 2020. Live Large Inc. plans to hold this investment until maturity.   3   Received a cheque for the principal and accrued interest on the term deposit that matured on June 30.   15   Received a $0.95 per share cash dividend on the Blue Balloon Ltd. common shares.   28   Sold 2,450 of the Blue Balloon Ltd. common shares at $26.25. Sept. 1   Received a $3.00 per share cash…

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