JJ. 170. DateFeb. 1 VMar. 1Apr. 1July 1Aug 1 vVOct. 1 VOct. 1Dec. 31VvAccount Titles and ExplanationCurrent AssetsInvestments at FVTPLCashInvestments at FVTPLCashInvestments at FVTPLCashCashInvestment Income or LossCashInvestments at FVTPLInvestment Income or LossCashGross Profit/(Loss)Investment Income or Loss(Collection of interest revenue.)CashInvestments at FVTPLInvestment Income or Loss(To record sale of investment.)Investment Income or LossInvestments at FVTPLInvestment in AssociateDecember 31, 2024SWIFTY CORPORATIONIncome Statement (Partial)Year Ended December 31, 2024Investment Income or LossVVV $VMvVVVVVVSWIFTY CORPORATIONBalance Sheet (Partial)V$DebitV35,96045,440202,0001,24012,7103,030207,0003,190Credit35,960Show the financial statement presentation of the investments and any related accounts in the financial statements for the yearended December 31, 2024. (Round answers to O decimal places, e.g. 5,275.)45,440202,0001,24011,8908203,030202,0005,0003,190 During the year ended December 31, 2024, Swifty Corporation, a public company, had the following transactions related toinvestments held for trading purposes:Purchased 620 IBF common shares for $35,960.Purchased 1,420 Raimundo common shares for $45,440.Apr. 1 Purchased $202,000 of CRT 3% bonds at par. Interest is payable semi-annually on April 1 and October 1.July 1Received a cash dividend of $2.00 per share on the IBF common shares.Aug.Sold 205 IBF common shares at $62 per share.Oct.Received the semi-annual interest on the CRT bonds.Sold the CRT bonds for $207,000.The fair values of the IBF and Raimundo common shares were $64 and $28 per share, respectively.Feb. 1Mar. 1111Dec. 31

Financial Statement are the those statements that shows the actual position of the company including…

During the year ended December 31, 2024, Swifty Corporation, a public company, had the following transactions related to investments held for trading purposes: Feb. 1 Purchased 620 IBF common shares for $35,960. Mar. 1 Apr. 1 July 1 Aug. 1 Oct. 1 1 Dec. 31 Purchased 1,420 Raimundo common shares for $45,440. Purchased $202,000 of CRT 3% bonds at par. Interest is payable semi-annually on April 1 and October 1. Received a cash dividend of $2.00 per share on the IBF common shares. Sold 205 IBF common shares at $62 per share. Received the semi-annual interest on the CRT bonds. Sold the CRT bonds for $207,000. The fair values of the IBF and Raimundo common shares were $64 and $28 per share, respectively.

During the year ended December 31, 2024, Swifty Corporation, a public company, had the following transactions related to investments held for trading purposes: Feb. 1 Purchased 620 IBF common shares for $35,960. Mar. 1 Apr. 1 July 1 Aug. 1 Oct. 1 1 Dec. 31 Purchased 1,420 Raimundo common shares for $45,440. Purchased $202,000 of CRT 3% bonds at par. Interest is payable semi-annually on April 1 and October 1. Received a cash dividend of $2.00 per share on the IBF common shares. Sold 205 IBF common shares at $62 per share. Received the semi-annual interest on the CRT bonds. Sold the CRT bonds for $207,000. The fair values of the IBF and Raimundo common shares were $64 and $28 per share, respectively.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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