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4 Below are selected T-accounts for the RunnerTech Company, which reported its investments as noncurrent assets. Investments (available-for-sale securities) 1/1 Purchase 11,000 46,000 3/10
4 Below are selected T-accounts for the RunnerTech Company, which reported its investments as noncurrent assets. Investments (available-for-sale securities) 1/1 Purchase 11,000 46,000 3/10 points awarded Sale AJE 1,200 31,000 Sale Year-end AJE 7 12/31 35,200 Scored Reclassification Unrealized Gains (in OCI) 1,300 Interest Revenue 0 2 1/1 Earned 3,500 12/31 Gain on Sale of Investments 0 300 1/1 1,200 2 1,400 Sale AJE Year-end AJE 12/31 1/1 Reclassification 12/31 Required: Complete the following journal entries: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. Purchased available-for-sale bond securities for cash. b. Received interest on the bond investments. c. Sold half of the portfolio when the fair value was $31,000. d. At year-end, the remaining securities in the portfolio had a fair value of $35,200. e. What would be reported on the balance sheet related to the available-for-sale bond investments on December 31? f. What would be reported on the income statement for the year? Complete this question by entering your answers in the tabs below. Req A to D Req E Req F Complete the following journal entries. Purchased available-for-sale securities for cash. Received Interest on the bond investments. Sold half of the portfolio when the fair value was $31,000. At year-end, the remaining securities in the portfolio had a fair value of $35,200. No Transaction 1 a. Investments Cash 2 b. Cash Interest revenue 3 c-1. Investments Unrealized gains General Journal 4 c-2. Cash Unrealized gains Gain on sale of investments Investments 5 c-3 B d. Show less Debit 46,000 Credit 46,000 2,000 2,000 x 1,300 1,300 31,500 1,700 1,700 31,500 Req E >
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