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Pan 1: Steve Solutions purchased 7% bonds with a face amount of on duly 1, 2020 for The market yield for these bonds was
Pan 1: Steve Solutions purchased 7% bonds with a face amount of on duly 1, 2020 for The market yield for these bonds was 9%. Interest is paid semi-annually on December 31 and June 31) These bonds are held to maturity. The fair value of the bonds at December 31, 2020 was Sl , 749,000 a. What is the entry to record the interest revenue on these bonds at 12/31/202L(4) Account Name Debit Credit Part 2 (Different company than above): Hopper LLC purchased several Investment securities during 2019, its first year of operations The following information pertains to these securities The fluctuations in their tair values are not considered permanent LOOK AT THE DATES ON THE QUESTIONS VERY CAREFULLY. Note: All trading securities and available for sale securities were purchased at the tace amount (or parn ot the bonds. (be. no discount or premium). You don't need to calculate interest revenue. It has been provided tor you. Trading Securities ABCo. Bonds Available for Sale CD Co. Bonds EF Co. Bonds Hed to Maturity GH Co. Bonds Total of all investments Initia I Cost 350,000 $ 1,250,000 900,000 770,000 Amortized cost 12/31/2019 350,000 1,250,000 900,000 776,000 Fair Value 12/31/2019 425,000 1,200,000 860,000 650,000 Amortized cost 12/31/2020 350,000 1,250,000 900,000 783,000 Fair Value 12/31/2020 1,135000 870000 700000 Interest revenu e for 2020 21,000 88,000 72,000 70,000 251,000 1 _ What amount would Hopper LLC report for each of its investment securities on its balance sheet as of 12/31/2020? Include in the table below) (4) Balance sheet amount At December 31, Trading Securities AB Co. Bonds Available for Sale CD co. Bonds EF co. Bonds Held to Maturity GH co. Bonds 4
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