Question
2. Max's Company invests in the bonds issued by CarmCorp. On 1/1/20 Max buys $10,000 of 8% bonds that pay interest on 1/1. They mature
2. Max's Company invests in the bonds issued by CarmCorp. On 1/1/20 Max buys $10,000 of 8% bonds that pay interest on 1/1. They mature in 5 years and yield 10%. Max pays $9,242. On 12/31/20, the fair market value of the bonds is $11,000. Assuming the bonds are classified as "Trading", prepare the journal entries for 1/1/20, 12/31/20, and 1/1/21. You may omit the closing journal entries.
3. Max's Company invests in the bonds issued by CarmCorp. On 1/1/20 Max buys $10,000 of 8% bonds that pay interest on 1/1. They mature in 5 years and yield 10%. Max pays $9,242. On 12/31/20, the fair market value of the bonds is $11,000. Assuming the bonds are classified as "HTM", prepare the journal entries for 1/1/20, 12/31/20, and 1/1/21. You may omit the closing journal entries.
4.Max's Company invests in the bonds issued by CarmCorp. On 1/1/20 Max buys $10,000 of 8% bonds that pay interest on 1/1. They mature in 5 years and yield 10%. Max pays $9,242. On 12/31/20, the fair market value of the bonds is $11,000. Assuming the bonds are classified as "AFS", prepare the journal entries for 1/1/20, 12/31/20, and 1/1/21. You may omit the closing journal entries.
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Cash, Corruption And Economic Development
Authors: Vikram Vashisht
1st Edition
1032096888, 9781032096889
