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Doc Antle Company purchased 10-year, 5% bonds with a face amount of $600,000 on July 1, 2021 when they were issued by Myrtle Beach Safari
Doc Antle Company purchased 10-year, 5% bonds with a face amount of $600,000 on July 1, 2021 when they were issued by Myrtle Beach Safari Corp. Doc Antle had the ability and intent to hold these bonds to maturity and classified the investment as a held-to-maturity security. Interest on the bonds is paid semiannually on June 30 and December 31. The market interest rate (yield) on bonds of similar risk and maturity was 4%. The fair value of the bonds on December 31, 2021 was $630,000. Enter only numbers. DO NOT include dollar signs. PV Tables What was the selling price of these bonds? How much interest revenue would Doc Antle report in 2021? At what value would Doc Antle report this investment on its December 31, 2021 balance sheet? What would be the balance in Doc Antle's Fair Value Adjustment account related to these bonds on December 31, 2021? Enter DEBIT balance as a POSITIVE number and CREDIT balance as NEGATIVE number. Assume that rather than classifying the investment as a held-to-maturity security, that Doc Antle held the bonds in its trading portfolio. How much interest revenue would Doc Antle report in 2021? At what value would Doc Antle report this investment on its December 31, 2021 balance sheet? What would be the balance in Doc Antle's Fair Value Adjustment account related to these bonds on December 31, 2021? Enter DEBIT balance as a POSITIVE number and CREDIT balance as NEGATIVE number. How much gain or loss would Doc Antle report in it's 2021 net income related to this bond investment? Enter a GAIN as a POSITIVE number and a LOSS as a NEGATIVE number. How much gain or loss would Doc Antle report in it's 2021 other comprehensive income (OCI) related to this bond investment? Enter a GAIN as a POSITIVE number and a LOSS as a NEGATIVE number
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