On January 1, 20x1, SPEED Company purchased 12% bonds, having a face value of P800,000. The bonds provide the bondholders with a 10% yield. They are dated January 1, 20x1, and mature January 1, 20x6, with interest payments on December 31 of each year. Speed's business model is to hold these bonds for collection and sale. The fair value of the bonds at each ycar end respectively was at 104, 102, 103, 98, and 101. Complete the amortization table for this investment below: Collection Interest Income Amortization Balance (1) (3) 839,789 (6) (8) 800,000 Jan. 1, 20x1 Dec. 31, 20x1 9,935 (4) 12,021 (7) (10) 96,000 96.000 (2) 85.072 Dec. 31, 20x2 Dec. 31, 20x3 Dec. 31, 20x4 Dec. 31, 20x5 96,000 96,000 96.000 (5) 82,777 (9) How much is the unrealized gain(loss) as part of OCI for the year ended 20x1?

On January 1, 20x1, SPEED Company purchased 12% bonds, having a face value of P800,000. The bonds provide the bondholders with a 10% yield. They are dated January 1, 20x1, and mature January 1, 20x6, with interest payments on December 31 of each year. Speed's business model is to hold these bonds for collection and sale. The fair value of the bonds at each ycar end respectively was at 104, 102, 103, 98, and 101. Complete the amortization table for this investment below: Collection Interest Income Amortization Balance (1) (3) 839,789 (6) (8) 800,000 Jan. 1, 20x1 Dec. 31, 20x1 9,935 (4) 12,021 (7) (10) 96,000 96.000 (2) 85.072 Dec. 31, 20x2 Dec. 31, 20x3 Dec. 31, 20x4 Dec. 31, 20x5 96,000 96,000 96.000 (5) 82,777 (9) How much is the unrealized gain(loss) as part of OCI for the year ended 20x1?

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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