The investments of Steelers Inc. include a single investment: $400,000 of Bengals Inc. 5% bonds purchased at 100 on January 1, 20Y7. These bonds were classified as available-for-sale securities. As of the December 31, 20Y7, balance sheet date, the fair value of the bonds declined to $392,800. a. Journalize the entries to acquire the investment on January 1, 20Y7, and record the adjustment to fair value on December 31, 20Y7. If an amount box does not require an entry, leave it blank. 20Y7 Jan. 1 Investments-Bengals Inc. Bonds  fill in the blank 4f6f0ef46fe1011_2 fill in the blank 4f6f0ef46fe1011_3   Cash  fill in the blank 4f6f0ef46fe1011_5 fill in the blank 4f6f0ef46fe1011_6 20Y7 Dec. 31   fill in the blank 4f6f0ef46fe1011_8 fill in the blank 4f6f0ef46fe1011_9     fill in the blank 4f6f0ef46fe1011_11 fill in the blank 4f6f0ef46fe1011_12 b. How is the unrealized gain or loss for available-for-sale investments disclosed on the financial statements? Unrealized Gain (Loss) on Available-for-Sale Investments is reported in the   of the  .

Interest for bond (held-to-maturity) investments On February 1, Hansen Company purchased $84,000 of 5%, 10-year Knight Company bonds at their face amount plus 1 month's accrued interest. The bonds pay interest on January 1 and July 1. On October 1, Hansen Company sold $30,000 of the Knight Company bonds acquired on February 1, plus 3 months' accrued interest. On December 31, 3 months' interest was accrued for the remaining bonds. Determine the interest earned by Hansen Company on Knight Company bonds for the year.

Debt Investment Transactions, Available-for-Sale Valuation Rekya Mart Inc. is a general merchandise retail company that began operations on January 1, Year 1. The following transactions relate to debt investments acquired by Rekya Mart Inc., which has a fiscal year ending on December 31: Year 1   Apr. 1. Purchased $60,000 of Smoke Bay 7%, 10-year bonds at their face amount plus accrued interest of $700. The bonds pay interest semiannually on February 1 and August 1. May 16. Purchased $96,000 of Geotherma Co. 6%, 12-year bonds at their face amount plus accrued interest of $240. The bonds pay interest semiannually on May 1 and November 1. Aug. 1. Received semiannual interest on the Smoke Bay bonds. Sept. 1. Sold $24,000 of Smoke Bay bonds at 104 plus accrued interest of $140. Nov. 1. Received semiannual interest on the Geotherma Co. bonds. Dec. 31 Accrued $840 interest on Smoke Bay bonds. Dec. 31 Accrued $480 interest on Geotherma Co. bonds. Year 2   Feb. 1. Received…

eBook Show Me How Entries for investment in bonds, interest, and sale of bonds Instructions Chart of Accounts ! Journal Instructions × Bocelli Co. purchased $135,000 of 6%, 20-year Sanz County bonds on May 11, Year 1, directly from the county, at their face amount plus accrued interest. The bonds pay semiannual interest on April 1 and October 1. On October 31, Year 1, Bocelli Co. sold $28,800 of the Sanz County bonds at 96 plus $144 accrued interest less a $85 brokerage commission. Provide journal entries for the following (refer to the Chart of Accounts for exact wording of account titles). a. The purchase of the bonds on May 11 plus 40 days of accrued interest, assume a 360-day year. b. Semiannual interest on October 1. C. Sale of the bonds on October 31. d. Adjusting entry for accrued interest of $1,593 on December 31, Year 1.

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-k A 0 nces Smith Co.'s long-term available-for-sale portfolio at the start of this year consists of the following. Available for Sale Securities Cost $ 576,530 163,300 Fair Value $ 498,150 Company A bonds Company B notes 159,750 Company C bonds. 641,750 723,930 Smith enters into the following transactions involving its available-for-sale debt securities this year. January 29 July 6 November 13 Sold one-half of the notes of Company B for $80,940. Purchased bonds of Company X for $126,800. Purchased notes of Company 2 for $210,000. December 9 Sold all of the bonds of Company A for $564,999. Fair values at December 31 are: B, $83,300; C.$646,000; X, $119,000; and Z. $217,000. Requirement General Journal Fair Value Transaction Adjustment Analysis Prepare journal entries to record each of the transactions and events. Prepare the year-end adjustment to fair value, if a View transaction list General Ledger Journal entry worksheet < Trial Balance Note: Enter debits before credits. 5 Using the…

Journalize the entries to record the following selected transactions of Oliver Co: a. purchased $100,000 of Kruse Co. 8% bonds at par value plus accrued interest of $2,000 b. Received first semiannual interest plus accrued interest of $1,500

Interest for bond (held-to-maturity) investments On February 1, Hansen Company purchased $108,000 of 5%, 15-year Knight Company bonds at their face amount plus 1 month's accrued interest. The bonds pay interest on January 1 and July 1. On October 1, Hansen Company sold $38,400 of the Knight Company bonds acquired on February 1, plus 3 months' accrued interest. On December 31, 3 months' interest was accrued for the remaining bonds. Determine the interest earned by Hansen Company on Knight Company bonds for the year. 2$