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Ivanhoe Carecenters Ltd. provides financing and capital to the healthcare industry, with a particular focus on nursing homes for the elderly. The following selected transactions relate to bonds acquired as an investment by Ivanhoe, whose fiscal year ends on December 31. 2020 Jan. 1 Dec. 31 Accrual of interest at year-end on the Franco bonds. (Assume that all intervening transactions and adjustments have been properly recorded and that the number of bonds owned has not changed from December 31, 2020, to December 31, 2022.) 2023 Jan. 1 Purchased at face value HK$1,898,000 of Franco Nursing Centers, 10-year, 10% bonds dated January 1, 2020, directly from Franco. Interest is paid on January 1 of each year. Jan. 1 Dec. 31 Received the annual interest on the Franco bonds. Sold HK$949,000 Franco bonds at 103. Accrual of interest at year-end on the Franco bonds.

Ivanhoe Carecenters Ltd. provides financing and capital to the healthcare industry, with a particular focus on nursing homes for the elderly. The following selected transactions relate to bonds acquired as an investment by Ivanhoe, whose fiscal year ends on December 31. 2020 Jan. 1 Dec. 31 Accrual of interest at year-end on the Franco bonds. (Assume that all intervening transactions and adjustments have been properly recorded and that the number of bonds owned has not changed from December 31, 2020, to December 31, 2022.) 2023 Jan. 1 Purchased at face value HK$1,898,000 of Franco Nursing Centers, 10-year, 10% bonds dated January 1, 2020, directly from Franco. Interest is paid on January 1 of each year. Jan. 1 Dec. 31 Received the annual interest on the Franco bonds. Sold HK$949,000 Franco bonds at 103. Accrual of interest at year-end on the Franco bonds.

FINANCIAL ACCOUNTING
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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Journalize the listed transactions for the years 2020 and 2023. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date ✪ Account Titles and Explanation (To record the receipt of annual interest on Franco bonds) (To record the sale of Franco bonds) Show Transcribed Text Ivanhoe Carecenters Ltd. Statement of Financial Position (Partial) Show the statement of financial position presentation of the bonds and interest receivable at December 31, 2020. Assume the investments are considered long-term. O HK$ Debit HK$ Credit
Transcribed Image Text:Journalize the listed transactions for the years 2020 and 2023. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date ✪ Account Titles and Explanation (To record the receipt of annual interest on Franco bonds) (To record the sale of Franco bonds) Show Transcribed Text Ivanhoe Carecenters Ltd. Statement of Financial Position (Partial) Show the statement of financial position presentation of the bonds and interest receivable at December 31, 2020. Assume the investments are considered long-term. O HK$ Debit HK$ Credit
Ivanhoe Carecenters Ltd. provides financing and capital to the healthcare industry, with a particular focus on nursing homes for the elderly. The following selected transactions relate to bonds acquired as an investment by Ivanhoe, whose fiscal year ends on December 31. 2020 Jan. 1 Dec. 31 Accrual of interest at year-end on the Franco bonds. (Assume that all intervening transactions and adjustments have been properly recorded and that the number of bonds owned has not changed from December 31, 2020, to December 31, 2022.) 2023 Jan. 1 Purchased at face value HK$1,898,000 of Franco Nursing Centers, 10-year, 10% bonds dated January 1, 2020, directly from Franco. Interest is paid on January 1 of each year. Jan. 1 Dec. 31 Received the annual interest on the Franco bonds. Sold HK$949,000 Franco bonds at 103. Accrual of interest at year-end on the Franco bonds.
Transcribed Image Text:Ivanhoe Carecenters Ltd. provides financing and capital to the healthcare industry, with a particular focus on nursing homes for the elderly. The following selected transactions relate to bonds acquired as an investment by Ivanhoe, whose fiscal year ends on December 31. 2020 Jan. 1 Dec. 31 Accrual of interest at year-end on the Franco bonds. (Assume that all intervening transactions and adjustments have been properly recorded and that the number of bonds owned has not changed from December 31, 2020, to December 31, 2022.) 2023 Jan. 1 Purchased at face value HK$1,898,000 of Franco Nursing Centers, 10-year, 10% bonds dated January 1, 2020, directly from Franco. Interest is paid on January 1 of each year. Jan. 1 Dec. 31 Received the annual interest on the Franco bonds. Sold HK$949,000 Franco bonds at 103. Accrual of interest at year-end on the Franco bonds.
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