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hi all the info is on this one question thanks :) On January 1, Y1, ABC purchased a $60,000 bond that pays Interest semi-annually at
hi all the info is on this one question thanks :)
On January 1, Y1, ABC purchased a $60,000 bond that pays Interest semi-annually at a rate of 6%. The prevailing market rate for similar bonds is 5%. There are 4 years remaining in the bond's term. On 12/31/Y1, the bond had a market value of $65,000. On 12/31/Y2, the bond had a market value of $64,000. ROUND ALL ANSWERS TO THE NEAREST DOLLAR If ABC classifies the bond as HTM, what would be the balance of the investment account presented on the balance sheet at 12/31/Y1? If ABC classifies the bond as HTM, what amount of gain or loss (not including interest amounts) related to the bond would be presented on the Y1 income statement? If ABC classifies the bond as HTM, what amount of gain or loss (not including interest amounts) related to the bond would be presented on the Y2 income statement? If ABC classifies the bond as AFS, what would be the balance of the investment account presented on the balance sheet at 12/31/71? If ABC classifies the bond as AFS, what amount of gain or loss (not including interest amounts) related to the bond would be presented on the Y1 income statement? If ABC classifies the bond as AFS, what amount of gain or loss (not including interest amounts) related to the bond would be presented on the Y2 income statement? If ABC classifies the bond as trading, what would be the balance of the investment account presented on the balance sheet at 12/31/Y1? IF ABC classifies the bond as trading, what amount of gain or loss (not including interest amounts) related to the bond would be presented on the Y1 income statement? If ABC classifies the bond as trading, what amount of gain or loss (not including interest amounts) related to the bond would be presented on the Y1 income statement? If ABC classifies the bond as trading, what amount of gain or loss (not including interest amounts) related to the bond would be presented on the Y2 income statement Step by Step Solution
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