Chapter 15 HW Assignments eBook Cost Fair Value Bernard Co. Equity and Available for Sale Investments O'Brien Industries Inc. is a book publisher The available-for-sale investments at cost and fair value on December 31, 2014, are as follows: Issuing Company $36,000 $32,800 Chadwick Co. 28,700 26,800 $64,700 $59,600 The investment in Jolly Roger Co. stock represents 30% of the outstanding shares of Jolly Roger Co. The following selected transactions occurred during 2015: Jan. 2. Purchased $78,400 of Gozar Inc. 5%, 10-year bonds at 100. The bonds are classified as an available for sale investment. The bonds pay interest on June 30 and December 31 Received interest for 6 months on the Gozar Inc. bonds purchased on January 2. 1. Purchased $39,000 of Nightline Co.54, 10-year bonds at 100. The bonds are classified as an available-for-sale investment. The bonds pay interest on October 1 and April 1. 9. Dividends of $10,700 are received on the Jolly Roger Co. Investment. Jolly Roger Co. reported a total net income of $93,000 for 2075, which O'Brien Industries Inc. recorded using the equity method. 31. Received interest for 6 months on the Gozar Inc. bonds purchased on January 2. 31. Accrued 3 months of interest on the Nightine bonds. 31. Adjusted the available-for-sale investment portfolio to fair value, using the June 30. Oct Dec. 31 following fair values: Check My Work 1 more Check My Work uses remaining Assignment Score: 45% esc f > G Search or type URL Chapter 15 HW Assignments book 1 Adjusted the worsavent portfold to the following fra Issuing Company Fair value Bernard C $33.600 Chanika 25,200 Glee 11,200 Night Co 18,220 For the year and December 31, 2015, Ostres content of 8.490 din The comparative undeed balance sheets December 2014 and 2075 bom Selected to the secrete Do not round Interim calculations, Round final answers to nearest dollar O'Brien Industries Inc. Partial Balance Sheets December 31 2014 Avto Selets Coat) $64.700 15.100 2015 $9.000 Aviste for Sale Investments are Interest Receivable Investment in Jolly Roger Stock Om Equipment 55100 110.000 505.00 Check My Won mone Che Wang tama G Search or type URL eBook 38,220 Chapter 15 HW Assignments Nightline Co. For the year ending December 31, 2045, O'Brien Industries Inc. reported net income of $148,400 a Required: The comparative unclassified balance sheets for December 31, 2014 and 2015 are provided below. Do not round interim calculations. Round final answers to nearest dollar. O'Brien Industries Inc. Partial Balance Sheets December 31 2015 2014 Available-for-Sale Investments (at Cost) $64,700 Valuation Allowance for Available-for-Sale Investments (5,100) Available for Sale Investments (Fair Value) $59,600 > Interest Receivable Investment in Jolly Roger Co. Stock Office Equipment (Net) $63,200 110,600 105,100 $526,900 Total Assets Accounts Payable Common Stock Excess of Issue Price Over Par Retained Earnings Unrealized Gain (Loss) on Available for Sale Investments $67,300 58,000 184,400 $60,600 58,000 184,400 229,000 (5,100) Total Liabilities and Stockholders' Equity $526,900 Check My Work 1 more Check My Work uses remaining Assignment Score: 45% Bernard Co. Chapter 15 HW Assignments eBook Equity and Available-for-Sale Investments O'Brien Industries Inc. is a book publisher The available-for-sale investments at cost and fair value on December 31, 2014, are as follows: Issuing Company Cost Fair Value $36,000 $32,800 Chadwick Co. 28,700 25,800 $64,700 $59,600 The investment in Jolly Roger Co stock represents 30% of the outstanding shares of Dolly Roger Co. The following selected transactions occurred during 2015: Jan 2 Purchased $78,400 of Gozar Inc. 5%, 10-year bonds at 100. The bonds are classified as an available for sale investment. The bonds pay interest on June 30 and December 31 June 30. Received interest for 6 months on the Gozar Inc. bonds purchased on January 2. Oct. 4 Purchased $39,000 of Nightline Co. 5%, 10-vear bonds at 100. The bonds are classified as an available-for-sale investment. The bonds pay interest on October 1 and April 1 9. Dividends of $10,700 are received on the Jolly Roger Co. investment Dec. 31. Jolly Roger Co. reported a total net income of $99,000 for zoys, which O'Brien Industries Inc. recorded using the equity method. 31. Received interest for 6 months on the Gozar Inc bonds purchased on January 2. Check My Work more Check My Work uses remaining Assignment Score: 47.5% Presleigh Schut.doc Presleigh osc e G Search or type URL & 2 3 4 5 6 7. Chapter 15 HW Assignments eBook and December 31 June 30. Received interest for 6 months on the Gozar Inc. bonds purchased on January 2 Oct. 1. Purchased $39,000 of Nightline Co. 5%, 10-year bonds at 100. The bonds are classified as an available for sale investment. The bonds pay interest on October 1 and April 1. 9. Dividends of $10,700 are received on the Jolly Roger Co. investment Dec. 31. Jolly Roger Co. reported a total net income of $93,000 for 20s, which O'Brien Industries Inc. recorded using the equity method. 31. Received interest for 6 months on the Gozar Inc. bonds purchased on January 2. 31. Accrued 3 months of interest on the Nightline bonds 31. Adjusted the available for sale investment portfolio to fair value, using the following fair values: Issuing Company Fair Value Bernard Co $33,600 Chadwick Co 25,200 Gozar Inc 81,200 Nightline Co. 38,220 For the year ending December 31, 2015, O'Brien Industries Inc. reported net income of $145,400 and paid no dividends Required The comparative undesite balance sheets for December 31, 2014 and 2015 are provided below. Selected balances are missing. Determine them Do not round interim calculations. Round final answers to nearest dollar Check My Work more Check My Works remaining Assignment Score: 47.3% Presleigh Schuldocx Presleigh MCBOOK PRO G Search or type URL 2 3 $ 4. 5 6 7 8 W E R Y 2
