Show the balance sheet presentation of the investment-related accounts at December 31, 2020. (Do not leave any answer field blank. Enter 0 for amounts.) KINGBIRD, INC Balance Sheet                                                                        December 31, 2020For the Year Ended December 31, 2020For the Quarter Ended December 31, 2020

Q: How much will be the gain (loss) on sale assuming all the bonds were sold on June 30,2020 at 99 plus…

A: Calculating carrying value of the bond on June 30, 2020. Year Beginning carrying value of bond…

Q: At December 31, 2020, the available-for-sale debt portfolio for Zorro Foods Corp. is as follows:…

A: 1)  Prepare the adjusting entry at December 31, 2020, to report the portfolio at fair value:-…

Q: Bradley-Link’s December 31, 2021, balance sheet included the following items:   Long-Term…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: OK Company showed the following balances in connection with its noncurrent liabilities on December…

A: Interest expense refers to the cost which is incurred through entity for the funds borrowed and it…

Q: On January 1, 2019, CupCompany purchased NoodlesCorporation, 9% bonds with a face value of…

A: Unrealized gain (loss) reported in other comprehensive income for the year 2019: Unrealized gain…

Q: On 1 January 2020, an entity purchased a debt instrument at its face value of P1,000,000. The…

A: The fluctuation in the market value of the investment results in an impairment loss or gain. If the…

Q: On January 1, 2019, Ola Company paid $388,900 for a $400,000 face value 3% corporate bond yielding…

A: Investment is the amount of money invested by an individual or entity in securities, shares and…

Q: Pompey Inc. carries the following marketable equity securities on its books at December 31, 2019 and…

A: Fair value of Financial asset @ FVOCI at 12/31/2020 P50,00,000 Fair value of Financial asset @…

Q: On January 1, 2021, LLB Industries borrowed $200.000 from Trust Bank by issuing a two-year, 10%…

A: Journal entries can be defined as the process of recording a transaction in the records of the…

Q: On January 1, 2020, ABC Co. acquired P1,000,000 face amount, 10% bonds for P951,963. The principal…

A: Value on Decemeber 31, 2021 = (P103 x 10000) = P1030000 Value on the date of purchase  = P951963

Q: PAPASAKAYA Corporation began operations on January 11, 2020. At December 31, 2020, PAPASAKAYA had…

A: The fair value gain on trading securities are recognized in the income statement and it is a…

Q: At December 31, 2020, the available-for-sale debt portfolio for Windsor, Inc. is as follows.…

A: Particular Amount ($) Fair value of portfolio 84475 Cost of portfolio  -82150 Unrealized…

Q: On December 31, 2020, Alberta Inc. purchased $500,000, 10% bonds issued by Banff Ltd. The bonds have…

A: Bond should be valued at at current market price. If market price is changes after bond issued then…

Q: Waterton Corporation reported that short-term investments in debt securities consisted of the…

A: The company determines whether the short-term investment resulted in unrealized gain or loss at the…

Q: How much is initial valuation of the bonds? How much cash was received upon the sale of the bonds?…

A: Accrued  Interest can be defined in simple terms as an interest which has been occurred at a…

Q: Which statement is correct if the debt instrument is classified as FA@FVTOCI? a. The net amount to…

A: The financial  asset which  are measured as per FVTOCI or ACM method are to be adjusted for expected…

Q: Acme Entertainment had $1,300,000 of 6%, $1,000 par callable bonds outstanding on December 31, 2023,…

A: The objective of this question is to calculate the gain or loss on early extinguishment of debt for…

Q: Oriole Company has these data at December 31, 2027, the end of its first year of operations. Debt…

A: 1) Adjusting entries are those journal entries which are recorded in the books of accounts at the…

Q: On its December 31, 2020 balance sheet, Crane Company appropriately reported a $10,000 debit balance…

A: Fair value adjustment account is a contra asset account in which the difference between cost and…

Q: Presented below is selected information related to the financial instruments of Pronghorn Company at…

A: At reporting date all financial assets are valued at fair value.

Q: Consider the following worksheet with information extracted from a financial statement: 2020…

A: The debt-to-asset ratio, is a leveraging ratio that shows how much of an asset's value is financed…

Q: ecurity A B C Total Cost $16.985 12,930 21,760 $51,675 Fair Value $16.030 15,179 18,160 $49,369

A: A journal entry is a basic accounting record that is used to chronologically track financial…

Q: On its December 31, 2021 statement of financial position Calhoun Company appropriately reported a…

A: First, we need to calculate the total unrealized loss or gain on the securities. This is done by…

Q: On December 31, 2019, Sinigang Company purchased debt investments at amortized cost, P3,000,000…

A: Year one Payment: Principal = P1,000,000 Interest (3,000,000 x 10%)=P300,000   Year two Payment:…

Q: ment ABC Co. had the following transactions pertaining its trading investments: Feb. 1, 2021…

A: Bonds: Bonds are the trading securities which are acquired by investors for having fixed interest…

Q: On its December 31, 2020 balance sheet, Calhoun Company appropriately reported a 'debit balance in…

A: The unrealized gain or loss on the investment is determined by comparing the cost of the investment…

Q: Security A B Cost $17,359 11,690 Fair Value $16,420 14,443

A: As the debt investments are presented at fair value, the unrealized gain/ loss is recognized in the…

Q: lassification Cost or Amortized Cost Fair Value at end if 2017 Interest Income in 2017 Sales Price…

A: Accumulated Other Comprehensive account includes the gain or loss that arose from the equity section…

Q: Which of the following debt should be classified as a current liability on December 31, 2020 in the…

A: A current liability is a debt or obligation that a business must pay off within a year, or during…

Q: Problem is attached* How much interest income should be reported in 2019? On December 31, 2020, the…

A:

Q: t Amortized Cost Fair Value Unrealize Gain (Loss

A: Investments held for collection and selling are recorded at amortized cost. At the end of each…

Q: On its December 31, 2020 balance sheet, Coronado Industries reported bonds payable of $6100000. The…

A: Meaning of call Premium: Call premium is the dollar amount over the par value of callable debt…

Q: At December 31, 2020, the available-for-sale debt portfolio for Sheridan, Inc. is as follows.…

A: Statement of comprehensive income is the statement prepared to show all the other incomes along with…

Q: Q1: How much is the reportable amount of Investments - Trading Securities as of December 31, 2019?…

A:

Q: On January 1, 2018, LAB Co. acquired P4,000,000 of 12% face value bonds at P3,767,000 to be held…

A: If a company buys a financial instrument for $150,000 that has a face amount of $200,000 and which…

Q: Prepare a comprehensive income statement for Thyme Investments for year ended December 31, 2018.…

A: Comprehensive income is defined as the variation in the firm net assets from the non- owner sources…

Q: At December 31, 2020, the available-for-sale debt portfolio for Whispering, Inc. is as follows.…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Which of the following modification of terms will not qualif, for derecognition of financial…

A: Solution Concept Derecognition of financial liability A financial liability is derecognized when the…

Q: Required: What total unrealized gain or loss would the company report in its 2021 income statement…

A: 1) Held to maturity debt investment:  If the debt instrument held to maturity, it is recorded by…

Q: 00 plus accrued interest. The bonds pay interest annually on January 1.  on December 31, 2021, the…

A: When investments are accounted through fair value through profit or loss, the difference that arises…

Q: Before an adjusting entry on December 31, 2020, the fair value adjustment account contained a credit…

A: Net Fair value adjustment = $800 ( $1600 + $1000 - $1800)   The adjusting entries to reflect the…

Q: The following information pertains to a portfolio of a company on 12/31/21:             Security…

A: Fair value is the value at which securities can be traded in open market. Whenever cost of the…

Q: Global Commerce Corporation purchased trading debt investments for $222,000 on December 31, 2024.…

A: Journal entry is the record which is prepared by the entity to maintain a report of daily business…

Q: On its December 31, 2020 balance sheet, Pharoah Company appropriately reported a $10.000 debit…

A: It's important to note that fair value is not always readily observable in the market, particularly…

Q: Holly Company invests its excess cash in marketable securities. At the beginning of 2019, it had the…

A: 1.

Q: On its December 31, 2020 balance sheet, Wildhorse Company appropriately reported a $10,000 debit…

A: Unrealized gain or loss is the gain or loss that has not been realized in the financial statement of…

Q: Pharoah Company has these data at December 31, 2022, the end of its first year of operations. Debt…

A: Fair value of the securities means actual replacement value of the securities in the market.…