Blue Spruce Corporation purchased a 25% interest in Krov Corporation on January 2, 2023, for $700. At that time, the carrying amount of Krov's net assets was \$2,700. Any excess of the cost of the investment over Blue Spruce's share of Krov's carrying amount can be attributed to unrecorded intangibles with a useful life of 20 years. Krov declared and paid a dividend of $6 and reported net income of $35 for its year ended December 31, 2023. Prepare Blue Spruce's 2023 entries to record all transactions and events related to the investment in its associate. Assume that Blue Spruce is a publicly accountable enterprise that applies IFRS. (Round answers to 2 decimal places, es. 52.75. Credit account titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record entries in the order displayed in the problem statement. List all debit entries before credit entries.) Assume that a $21,000 face value bond is priced at 97 . What is the bond's fair value at 97? at 103.00? Bond's fair value at 97 $ Bond's fair value at 103.00 $ Riverbed Corp. purchased a $100,000 face value bond of Myers Corp. on August 31,2022 , for $106,730 plus accrued interest. The yield on the bond is 7.56%. The bond pays interest annually each November 1 at a rate of 9%. On November 1, 2022, Riverbed received the annual interest. On December 31,2022. Riverbed's year end, the fair value for these bonds was 106,0. Riverbed sold the bond on January 15, 2023, for $105,700 plus accrued interest. Assume Riverbed follows IFRS. (a) Prepare the journal entries to record, the purchase of the bond, the receipt of interest, any adjustments required at year end, and the subsequent sale of the bond. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter O for the amounts. Record entries in the order displayed in the problem statement. List all debit entries before credit entries.) (To accrue interest) (To record fair value adjustment) Early in its 2023 fiscal year (December 31 year end). Flounder Company purchased 9,400 Kenyon Corporation common shares for $26.18 per share, plus $1,800 in brokerage commissions. These securities were accounted for at FVOCI (with no recycling), and transaction costs were capitalized. In September, Kenyon declared and paid a dividend of $1.02 per share, and on December 31, 2023, the fair value of these shares was $255,210. On April 13, 2024, Flounder sold all the Kenyon shares at a price of $28.10 each, incurring $1,925 in brokerage commissions on the sale. (a) Prepare the entry to record the purchase of the Kenyon shares. (Credit account tities are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.)
