Check my work 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 3,000 common shares of Royal Bank at $27.30, plus soe in transaction fees 19 Purchased 2,000 common shares of Imperial oil at $53.75, and paid $2se in transaction fees. Ape. 1 Paid 595,190 plus 5500 in transaction fees for a 8.406, four-year 598,000 Minco Inc. bond that pays Interest quarterly beginning June 10. The market rate of interest on this date was 8.be Sellers Corporation plans to hold this investment for the duration of the band's contract life. May 26 Purchased 2,800 common shares of BCE at $14.15, plus $200 in transaction fees. Dune 1 Received a 50.25 per share cash dividend on the Royal Bank common shares. 17 Sold 2,000 Royal Bank common shares at $27.08. 30 Received interest on the Minco Inc. bond. Aug. 5 Received a se.se per share cash dividend on the Imperial 011 common shares. Sept. 1 Received a se.275 per share cash dividend on the remaining Royal Bank connon 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, $28.30, Imperial Oll. $5213, and BCE, S14.30. 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.) Cash Period Check my work 3 keceived interest on the inco Inc. Dono. 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, $28.30, Imperial Oil, $52.13. and BCE. $14.30. 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 os positive values.) Cash Interest Received Period Interest Income Discount Amort Unamortized Discount Carrying Value ses Apr 1/20 June 30/20 Sept 30/20 Dec. 31/20 ditis 10,12-bue Saved Help Save & Exe Submit Check my work 5 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 OR Journal entry worksheet 2 3 4 1 2 3 5 6 7 8. 12 > Record the purchase of investment. Note: Enter debts before credits Date General Journal Debit Credit Check my 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 Assets Current Investments es Non current investments Save & tart Sub Check my world Analysis Component of the fair value adjustment is not recorded by Safety Development Corporation, what is the impact on the financial statements
