Oak Ridge Corporation, which reports under IFRS, has the following investments at December 31, 2021: Trading investments: common shares of National Bank, cost $39,900, fair value $47,000. 1. 2. Investment in an associate (40% ownership): common shares of Sword Corp., cost $219,100, fair value cannot be determined because the shares do not trade publicly. Sabre purchased the investment was purchased on January 1, 2021. For the year ended December 31, 2021, Sword Corp. reported net income of $54,800 and declared and paid dividends of $17,500. 3. Equity investment: common shares of Epee Inc. (19% ownership) purchased on July 1, 2021, cost $421,900, fair value at December 31, 2021. $547,200. Management intends to purchase more shares of Epee in two years. Epee earned $41,200 for the year ended December 31, 2021, and declared and paid dividends of $2,200, which sabre received at the end of each quarter in 2021. 4. Bond investment to be held to maturity: bonds of Ghoti Ltd., purchased at a cost equal to its face value of $319,700, fair value $346,400.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Prepare a partial statement of financial position for Oak Ridge Corporation at December 31, 2021.
OAKRIDGE CORPORATION
Statement of Financial Position (Partial)
December 31, 2021
Assets
Current Assets
Trading Investments
000L
Long-Term Investments
Investment in Associates
Transcribed Image Text:%24 Prepare a partial statement of financial position for Oak Ridge Corporation at December 31, 2021. OAKRIDGE CORPORATION Statement of Financial Position (Partial) December 31, 2021 Assets Current Assets Trading Investments 000L Long-Term Investments Investment in Associates
Oak Ridge Corporation, which reports under IFRS, has the following investments at December 31, 2021:
Trading investments: common shares of National Bank, cost $39,900, fair value $47,000.
1.
2.
Investment in an associate (40% ownership): common shares of Sword Corp., cost $219,100, fair value cannot be
determined because the shares do not trade publicly. Sabre purchased the investment was purchased on January 1, 2021.
For the year ended December 31, 2021, Sword Corp. reported net income of $54,800 and declared and paid dividends of
$17,500.
3.
Equity investment: common shares of Epee Inc. (19% ownership) purchased on July 1, 2021, cost $421,900, fair value at
December 31, 2021, $547,200. Management intends to purchase more shares of Epee in two years. Epee earned $41,200
for the year ended December 31, 2021, and declared and paid dividends of $2,200, which sabre received at the end of each
quarter in 2021.
4.
Bond investment to be held to maturity: bonds of Ghoti Ltd., purchased at a cost equal to its face value of $319,700, fair
value $346,400.
Transcribed Image Text:Oak Ridge Corporation, which reports under IFRS, has the following investments at December 31, 2021: Trading investments: common shares of National Bank, cost $39,900, fair value $47,000. 1. 2. Investment in an associate (40% ownership): common shares of Sword Corp., cost $219,100, fair value cannot be determined because the shares do not trade publicly. Sabre purchased the investment was purchased on January 1, 2021. For the year ended December 31, 2021, Sword Corp. reported net income of $54,800 and declared and paid dividends of $17,500. 3. Equity investment: common shares of Epee Inc. (19% ownership) purchased on July 1, 2021, cost $421,900, fair value at December 31, 2021, $547,200. Management intends to purchase more shares of Epee in two years. Epee earned $41,200 for the year ended December 31, 2021, and declared and paid dividends of $2,200, which sabre received at the end of each quarter in 2021. 4. Bond investment to be held to maturity: bonds of Ghoti Ltd., purchased at a cost equal to its face value of $319,700, fair value $346,400.
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