Question P10-22-B Problems Group BP10-21B Accounting for debt investmentsSuppose Hale and Sons purchases $800,000 of 3.5% annual bonds of Tyson WayCorporation at face value on January 1, 2018. These bonds pay interest on June 30 andDecember 31 each year. They mature on December 31, 2022. Hale and Sons intendsto hold the Tyson Way bond investment until maturity.Learning Objective 21. Dec. 31 Int. Rev. CRRequirements1. Journalize Hale and Sons's transactions related to the bonds for 2018.2. Journalize the entry required on the Tyson Way bonds maturity date. (Assume thelast interest payment has already been recorded.)P10-22B Classifying and accounting for debt and equity investmentsLearning ObjecCaptain Transfer Corporation generated excess cash and invested in securities asfollows:2. Sep. 16 GainCR $2,9402018Jul. 2Purchased 4,200 shares of Naradon, Inc. common stock at $13.00 pershare. Captain Transfer plans to sell the stock within three months,when the company will need the cash for normal operations. CaptainTransfer does not have significant influence over Naradon.Received a cash dividend of $0.40 per share on the Nardon stockinvestment.Aug. 21Sep. 16Sold the Naradon stock for $13.70 per share.Purchased a Purple bond for $40,000 at face value. Captain Transferclassifies the investment as trading and short-term.Oct. 1Dec. 31Received a $600 interest payment from Purple.31Adjusted the Purple bond to its market value of $44,000.1. Classify each of the investments made during 2018. (Assume the equityinvestments represent less than 20% of ownership of outstanding voting stock.)Requirements3. Prepare T-accounts for the investment assets, and show how to report theinvestments on Captain Transfer's balance sheet at December 31, 2018.2. Journalize the 2018 transactions. Explanations are not required.4. Where is the unrealized holding gain or loss associated with the trading debtinvestment reported?

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Answered: P10-22-B

Business

Accounting

P10-22-B

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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JFK Sp G Persua: BIF ANSV B which c BWILL BE M (no sub Gis engli + n/courseware-delivery//ua/69158/45467532/aHR0cHM6Ly9mMi5hcHAUZWRtZW50dW0uY29tL2xlYXJuZXItdWkvc2Vjb25kYXJ5L3VzZXItY... < ☆ Unit Activity: Mathematical Models and Consumer Finance https:// Online Task 2 Saving Money Respond to each question below in two to three complete sentences. Each question is worth four points. BIUX² X₂ 15px Space used (includes formatting): 0/ 15000 Edment A G What fa Part A How can knowing your spending habits make it easier for you to learn to save money? Give an example to illustrate your explanation. !!! 6 of 12 V Print Sav
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