Reference no: EM132105409
Question - On January 1, 2013, Hoosier Company purchased $930,000 of 10% bonds at face value. The bond market value was $980,000 on December 31, 2013.Required: Prepare the appropriate journal entry on December 31, 2013, to properly value the bonds assuming the bonds are classified as: a. Trading securities. b. Securities available for sale. c. Held-to-maturity securities.
Hawk Corporation purchased 10,000 shares of Diamond Corporation stock in 2010 for $50 per share and classified the investment as securities available for sale. Diamond's market value was$60 per share on December 31, 2011, and $65 on December 31, 2012. During 2013, Hawk sold all of its Diamond stock at $70 per share. In its 2013 income statement, Hawk would report?
a. What is the unrealized gain and fair value adjustment?
b. Additional Increase in 2013?
c. Total gain on income statement?
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