Federal Semiconductors issued 10% bonds, dated January 1, with a face amount of $770 million on January 1, 2016. The bonds sold for $708,222,420 and mature on December 31, 2032 (20 years). For bonds of similar risk and maturity the market yield was 11%. Interest is paid semiannually on June 30 and December 31. Federal determines interest at the effective rate. Federal elected the option to report these bonds at their fair value. On December 31, 2016, the fair value of the bonds was $690 million as determined by their market value in the over-the-counter market. Assume the fair value of the bonds on December 31, 2017 had risen to $696 million.

Required:

Complete the below table to record the following journal entries (Enter your answers in whole dollars.)

****** I NEED HELP WITH THE 12/31/2017 UNREALIZED HOLDING GAIN (LOSS) *****

It's not -14186137 either

1. & 2.

Prepare the journal entry to adjust the bonds to their fair value for presentation in the December 31, 2016 and on December 31, 2017, balance sheet. Federal determined that one-half of the increase in fair value was due to a decline in general interest rates. (Enter your answers in whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

***** I NEED HELP WITH JOURNAL ENTRY #6 *****

PLEASE & THANK YOU

Semiannual Interest Period-End Cash Interest Paid Bond Interest Expense Increase in Balance Carrying Value Fair Value Unrealized Holding Gain (loss) 01/01/2016 708,222,420 708,674,653 06/30/2016 $ 19,151,759 38.500.000 38,500,000 38,500,000 38,500,000 12/31/2016 06/30/2017 12/31/2017 690,000,000 38,952,233 38,977,106 39,003,347 39,031,031 452,233 477,106 503,347 531,031 709,151,759 709,655,106 710,186,137 696.000.000 S 14,186,137 X Fair Value Adjustment Net Liability (FMV) 01/01/2016 06/30/2016 12/31/2016 01/01/2016 06/30/2016 12/31/2016 Bonds Payable 708,222,420 452.233 477,106 709,151,759 503,347 531,031 710,186,137 $ 19,151,759 19,151,759 S 690,000,000 06/30/2017 12/31/2017 06/30/2017 12/31/2017 14,186,137 33,337,896 S 676,848,241 Journal entry worksheet Record the fair value adjustment. Note: Enter debits before credits. Debit Credit Date General Journal December 31, 2017 Unrealized holding gain - OCI Unrealized holding loss - NI Fair value adjustment Record entry Clear entry View general journal