5 aymentChapters 15,16,17- Saved Help Save & Exit Submit Check my work Book int ences Safety Development Corporation had relatively large idle cash balances and invested them as follows in securities to be held as non- strategic investments: 2020 Feb. 7 Purchased 2,800 common shares of Royal Bank at $27.10, plus $500 in transaction fees. 19 Purchased 1,800 common shares of Imperial 011 at $53.25, and paid $250 in transaction fees. Apr. 1 Paid $94,207 plus $500 in transaction fees for a 8.00%, four-year, $96,000 Minco Inc. bond that pays interest quarterly beginning June 30. The market rate of interest on this date was 8.40%. Sellers Corporation plans to hold this investment for the duration of the bond's contract life. May 26 Purchased 2,600 common shares of BCE at $13.98, plus $200 in transaction fees. June 1 Received a $0.25 per share cash dividend on the Royal Bank common shares. 17 Sold 1,800 Royal Bank common shares at $27.60.1 30 Received interest on the Minco Inc. bond.. Aug. 5 Received a $0.50 per share cash dividend on the Imperial Oil common shares. Sept. 1 Received a $0.275 per share cash dividend on the remaining Royal Bank common shares. 30 Received interest on the Minco Inc. bond. Dec. 31 Received interest on the Minco Inc. bond. On December 31, 2020, the fair values of the investments held by Safety Development Corporation were: Royal Bank, $28.10, Imperial Oil, $51.63; and BCE, $14.10. Assume the fair value and carrying value of the Minco Inc. bond were equal Required: 1. Prepare an amortization schedule for the Minco Inc. bond showing only 2020. (Round your intermediate and final answers to the nearest whole dollar amount. Enter all the amounts as positive values.) < Prev 5 of 5 Next> ACC2004-3-Assignment #7 - Chapters 15,16,17 5 Saved Cash Period Interest Discount Interest Received Amort. Income Unamortized Discount Carrying Value Apr. 1/20 10 June 30/201 points Sept. 30/20 Dec. 31/20 eBook Print References 004-3-Assignment #7 - Chapters 15,16,17-... Saved Help Save & Exit Submit Check my work 5. ok ances 2. Prepare journal entries to record the investment activity including the appropriate fair value adjustment on December 31. (Round your intermediate and final answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 12 > Record the purchase of investment. Note: Enter debits before credits. Chapters 15,16,17 Saved Help Sev 5 Note: Enter debits before credits. 10 10 points Date eBook Print References Feb 07, 2020 General Journal Debit Credit Clear entry View general journal Record entry ACC2004-3-Assignment #7 - Chapters 15,16,17-... Saved Help Save & Exit Submit 5 points ellook Check my work 3. Show how the investments will be reported on the December 31, 2020, balance sheet. (Round your intermediate and final answers to the nearest whole dollar amount.) SAFETY DEVELOPMENT CORPORATION Partial Balance Sheet December 31, 2020 Print Assets References Current Investments: Non current investments: ACC2004-3-Assignment #7 - Chapters 15,16,17 Saved Help 10 5 points Save & Exit Submit Chack my work eBook Pont References Analysis Component: If the fair value adjustment is not recorded by Safety Development Corporation, what is the impact on the financial statements? Pray 55 Next >