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2 newconnect available un Chapter 12 Homework Help Save 2 2 points Fuzzy Monkey Technologies, Inc, purchased as a short-term investment SB0 million of 6%

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2 newconnect available un Chapter 12 Homework Help Save 2 2 points Fuzzy Monkey Technologies, Inc, purchased as a short-term investment SB0 million of 6% bonds, dated January 1 on January 1, 2021. Management intends to include the investment in a short-term, active trading portfolio For bonds of similar risk and maturity the market yield was 8%. The price paid for the bonds was $64 million, Interest is received semiannually on June 30 and December 31 Due to changing market conditions, the fair value of the bonds at December 31, 2021 was $70 million Required: 1. to 3. Prepare the relevant journal entries on the respective dates (record the interest at the effective rate). 4-a. At what amount will Fuzzy Monkey report its investment in the December 31, 2021 balance sheet? 4.b. Prepare any entry necessary to achieve this reporting objective 5. How would Fuzzy Monkeys 2021 statement of cash flows be affected by this Investment? (f more than one approach is possible. Indicate the one that is most likely) Skype B Rece Complete this question by entering your answers in the tabs below. Reg 1 to 3 Reg 4 Reg 48 Reqs Prepare the relevant journal entries on the respective dates (record the interest at the effective rate), (Il no entry is required for a transaction/event, select "No joumal entry required in the first account field. Do not round intermediate calculations. Enter your answers in millions rounded to 2 decimal places, le., 5,500,000 should be entered as 5.50).) View transaction llat Journal entry worksheet 2 newconnect available un Chapter 12 Homework Help Save 2 2 points Fuzzy Monkey Technologies, Inc, purchased as a short-term investment SB0 million of 6% bonds, dated January 1 on January 1, 2021. Management intends to include the investment in a short-term, active trading portfolio For bonds of similar risk and maturity the market yield was 8%. The price paid for the bonds was $64 million, Interest is received semiannually on June 30 and December 31 Due to changing market conditions, the fair value of the bonds at December 31, 2021 was $70 million Required: 1. to 3. Prepare the relevant journal entries on the respective dates (record the interest at the effective rate). 4-a. At what amount will Fuzzy Monkey report its investment in the December 31, 2021 balance sheet? 4.b. Prepare any entry necessary to achieve this reporting objective 5. How would Fuzzy Monkeys 2021 statement of cash flows be affected by this Investment? (f more than one approach is possible. Indicate the one that is most likely) Skype B Rece Complete this question by entering your answers in the tabs below. Reg 1 to 3 Reg 4 Reg 48 Reqs Prepare the relevant journal entries on the respective dates (record the interest at the effective rate), (Il no entry is required for a transaction/event, select "No joumal entry required in the first account field. Do not round intermediate calculations. Enter your answers in millions rounded to 2 decimal places, le., 5,500,000 should be entered as 5.50).) View transaction llat Journal entry worksheet

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