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Live Large Inc. had the following transactions involving non - strategic investments during 2 0 2 3 . 2 0 2 3 Apr. 1 Paid
Live Large Inc. had the following transactions involving nonstrategic investments during
Apr. Paid $ to buy a day term deposit, $ principal amount, dated April There was a $
transaction fee included in the abovenoted payment amount.
Purchased common shares of Blue Balloon Ltd at $ There was a $ transaction fee included in the
abovenoted payment amount.
June Purchased common shares of Purple Car Corp. at $ There was a $ transaction fee included in the
abovenoted payment amount.
Purchased common shares of Yellow Tech Ltd at $ There was a $ transaction fee included in the
abovenoted payment amount.
July Purchased for $ a $ Space Explore Inc. bond that matures in eight years when the market
interest rate was There was a $ transaction fee included in the abovenoted payment amount. Interest
is paid semiannually beginning December Live Large Inc. plans to hold this investment until
maturity,
Received a cheque for the principal and accrued interest on the term deposit that matured on June
Received a $ per share cash dividend on the Blue Balloon Ltd common shares.
Sold of the Blue Balloon Ltd common shares at $
Sept. Received a $ per share cash dividend on the Purple Car Corp. common shares.
Dec. Received a $ per share cash dividend on the remaining Blue Balloon Ltd common shares owned.
Received the interest on the Space Explore Inc, bond.
The fair values of Live Large Inc.s investments on this date were Blue Balloon shares, $; Purple Car
Corp. shares, $; Yellow Tech shares, $ Assume the fair value and the carrying value of the Space
Explore bond were equal.
Feb. Sold the remaining Blue Balloon shares at $
Required:
Prepare an amortization schedule for the Space Explore bond showing only and Round your intermediate and final
answers to the nearest whole dollar amount. Enter all the amounts as positive values. Use days in a year.
Prepare journal entries to record the preceding transactions. Round your intermediate and final answers to the nearest whole
dollar amount. Use days in a year.
Journal entry worksheet
Record the purchase of term deposit as shortterm investment.
Note: Enter debits before credits.
Show how Live Large Inc.s investments will appear on its December balance sheet. Round your intermediate and final
answers to the nearest whole dollar amount.
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