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Fuzzy Monkey Technologies, Incorporated purchased as a long-term investment $80 million of 6% bonds, dated January 1 , on January 1. 2024. Management has the

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Fuzzy Monkey Technologies, Incorporated purchased as a long-term investment $80 million of 6% bonds, dated January 1 , on January 1. 2024. Management has the positive intent and ability to hold the bonds until maturity. For bonds of similar risk and maturity the market yield was 8%. The price paid for the bonds was $64 milion. Interest is received semiannually on June 30 and December 31 . Due to changing market conditions, the fair value of the bonds at December 31,2024 , was $70 million. Required: 1. to 3. Prepare the relevant journal entries on the respective dates (record the interest at the effective rate). 4. At what amount will Fuzzy Monkey report its investment in the December 31,2024 balance sheet? 5. How would Fuzzy Monkey's 2024 statement of cash flows be affected by this investment? If more than one approach is possible. indicate the one that is most likely.) Complete this question by entering your answers in the tabs below. Prepare the relevant journal entries on the respective dates (record the interest at the offective rate). Note: If no entry is required for a transaction/event, select "No foum ent entry required" in the first account field. Do not round intermediate calculations. Enter your answers in millions rounded to 2 decimal places, (1.e., 5,500,000 - should be entered as 5.50 ). Prepare the relevant journal entries on the respective dates (record the interest at the effective rate). Note: If no entry is required for a transaction/event, select "No Journai entry required" in the first account field. Do not round intermediate calculations. Enter your answers in millions rounded to 2 decimal places. (i.e. 5,500,000 should be entered as 5.50 ). Show latssis Journal entry worksheet Record Fuzzy Monkey's investment on bonds on January 2, 2024. Natet Enter debits beflare credits. Note: If no entry is required for a transaction/event, select "No journal entry required in the rirst accoun intermediate calculations. Enter your answers in millions rounded to 2 decimal places, (i.e., 5,500,000 sh Journal entry worksheet Record the interest revenue on June 30, 2024. Note: Enter debits before credits. Prepare the relevant journal entries on the respective dates (record the interest at the effective rate). Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account fiold. Do not round intermediate calculations. Enter your answers in millions rounded to 2 decimal places, (i.e., 5,500,000 should be entered as 5.50 ). Journal entry worksheet Record the interest revenue on June 30,2024. Hote: Enter debits before creditti. Due to changing market conditions, the fair value of the bonds at December 31.2024, was $70 million. Required: 1. to 3. Prepare the relevant journal entries on the respective dates (record the interest at the effective rate). 4. At what amount will Fuzzy Monkey report its investment in the December 31, 2024 balance sheet? 5. How would Fuzzy Monkey's 2024 statement of cash flows be affected by this investment? (ff more than one approach is possible. indicate the one that is most likely.) Complete this question by entering your answers in the tabs below. At what amount will Fuzzy Monkey report its investment in the December 91,2024 balance sheet? Note: Do not round intermediate calculations. Enter your answerin 1 , 1 ion rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50 ). Fuzzy Monkey Technologies, incorporated purchased as a long-term investment $80 million of 6% bonds, dated January 1, on January 1, 2024. Management has the positive intent and ability to hold the bonds until maturity. For bonds of similar risk and maturity the market yield was 8%. The price paid for the bonds was $64 million. Interest is received semiannually on June 30 and December 31 . Due to changing market conditions, the fair value of the bonds at December 31 , 2024, was $70 million. Required: 1. to 3. Prepare the relevant journal entries on the respective dates (record the interest at the effective rate). 4. At what amount will Fuzzy Monkey report its investment in the December 31,2024 balance sheet? 5. How would Fuzzy Monkey's 2024 statement of cash flows be affected by this investment? (If more than one approach is possible, indicate the one that is most likely.) Complete this question by entering your answers in the tobs below. How would Fuzzy Monkey's 2024 statement of cash flows be affected by this investment? (If more than one approach is possible, indicate the one that is most likely.) Note: Do not round intermediate calculations. Enter all amounts as positive values, Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5), Prepare the relevant journal entries on the respective dates (record the interest at the effective rate). Note: If no entry is required for a transaction/gvent, select "No fournal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in mililons rounded to 2 decimal places, (f.e. 5,500,000 should be entered as 5.50 ). Journal entry worksheet Show lessa Record the interest revenue on December 31, 2024. Note! Enter debits before credits

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