Reference no: EM132562886
On July 1, 2020, Miron Aggregates Ltd. purchased 6% bonds having a maturity value of $100,000 for $103,585. The bonds provide the bondholders with a 5% yield. The bonds mature four years later, on July 1, 2024, with interest receivable June 30 and December 31 of each year. Miron uses the effective interest method to allocate unamortized discount or premium. The bonds are accounted for using the FV-OCI model with recycling. Miron has a calendar year end. The fair value of the bonds at December 31, 2020 and 2021, was $103,400 and $102,200, respectively. Assume fair value adjustments are recorded at year end only. Immediately after collecting interest on December 31, 2021, the bonds were sold for $102,200. Also, assume that the bond is the only investment held by Miron Aggregates Ltd.
Question 1: Prepare a partial comparative statement of financial position at December 31, 2020 and 2021, showing only the related accounts for the bond investment. (Round answers to 0 decimal places, e.g. 5,275.
|
Grocery store shelves for the items
: What questions do you think you need to ask/investigate to properly orient the products on shelf?
|
|
What translation adjustment will Yang report at the end
: Required - In preparing consolidated financial statements, what translation adjustment will Yang report at the end of the current year
|
|
How much will be in ira
: 285 monthly at a fixed interest rate of 3.92% compounded monthly. If she is currently 22 years old, how much will be in her IRA when she is 65?
|
|
Prepare adjusting entries from data
: Following is the Trial Balance of Shaheen Traders for the period of 2nd Quarter of 2019: Prepare adjusting entries from above data
|
|
Prepare partial comparative statement of financial position
: Prepare a partial comparative statement of financial position at December 31, 2020 and 2021, showing only the related accounts for the bond investment.
|
|
How to respond to resistance to change
: Recommendations for change, with specific strategies that need to be adopted by the leadership, including how to communicate the changes and how to respond.
|
|
Make the partially balance sheet as of december
: Make the partially Balance Sheet as of December 31, 2018, and December 31, 2019 for Helen Corporation, by using Cost Method for the investment.
|
|
Compute total costs transferred to finished goods inventory
: Material costs for the month of October were $27,000 and conversion costs were $46,800. Compute total costs transferred to finished goods inventory
|
|
Discuss economically counterintuitive to recognise
: Discuss whether it is economically counterintuitive to recognise a fair value gain on own debt in the event of an increase in credit risk.
|