Prepare a comprehensive income statement for Thyme Investments for year ended December 31, 2018. Assume net income was $320,000. (Use a minus sign or parentheses to enter a loss.) 2018 Jan. 5 Purchased Vince Company's $525,000 bond at face value. Thyme classified the investment as available-for-sale. The Vince bond pays interest at the annual rate of 6% on June 30 and December 31 and matures on December 31, 2021 Management's intent is to keep the bonds for several years . June 30 Received an interest payment from Vince Dec.31 Received an interest payment from Vince. Dec.31 Adjusted the investment to its current market value of $518.500 .
Prepare a comprehensive income statement for Thyme Investments for year ended December 31, 2018. Assume net income was $320,000. (Use a minus sign or parentheses to enter a loss.) 2018 Jan. 5 Purchased Vince Company's $525,000 bond at face value. Thyme classified the investment as available-for-sale. The Vince bond pays interest at the annual rate of 6% on June 30 and December 31 and matures on December 31, 2021 Management's intent is to keep the bonds for several years . June 30 Received an interest payment from Vince Dec.31 Received an interest payment from Vince. Dec.31 Adjusted the investment to its current market value of $518.500 .
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Requirement 3. Prepare a comprehensive income statement for Thyme Investments for year ended December 31, 2018. Assume net income was $320,000. (Use a minus sign or parentheses to enter a loss.)
2018
Jan. 5
Purchased Vince Company's $525,000 bond at face value. Thyme classified the investment as available-for-sale. The Vince bond pays interest at the annual rate of 6% on June 30 and December 31 and matures on December 31, 2021 Management's intent is to keep the bonds for several years .
June 30
Received an interest payment from Vince
Dec.31
Received an interest payment from Vince.
Dec.31
Adjusted the investment to its current market value of $518.500 .
![**Thyme Investments**
**Comprehensive Income Statement**
*For the Year Ended December 31, 2018*
- **Net Income:** [Textbox for entry]
- **Other Comprehensive Income:** [Textbox for entry]
- **Comprehensive Income (Loss):** [Textbox for entry]
This section is designed to allow entry of financial figures for reporting purposes. It summarizes the net income and additional comprehensive income to provide a total for comprehensive income or loss.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe7d9c190-22cd-4c32-a8ed-c023db1c97eb%2F56e40eb7-8d10-426f-a762-a501289f4a88%2F4qfkbr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:**Thyme Investments**
**Comprehensive Income Statement**
*For the Year Ended December 31, 2018*
- **Net Income:** [Textbox for entry]
- **Other Comprehensive Income:** [Textbox for entry]
- **Comprehensive Income (Loss):** [Textbox for entry]
This section is designed to allow entry of financial figures for reporting purposes. It summarizes the net income and additional comprehensive income to provide a total for comprehensive income or loss.
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