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none of them are appearing blurred for me, tell me where you see it and i can fix it. Problem #1 PoiSippi Inc. prepared the
none of them are appearing blurred for me, tell me where you see it and i can fix it.
Problem \#1 PoiSippi Inc. prepared the following schedule of Available for Sale securities (all purchased @ par) as of 12/31/2020 \begin{tabular}{|c|r|r|r|} \hline Company & AmortizedCost & FV12/31/2020 & CumulativechangeinFV \\ \hline Morgan10%bondspaidtwiceayearPurchased@par4/1&10/1 & 35,000 & 34,200 & (800) \\ \hline Nance10%bondspaidtwiceayearpurchased@par6/30&12/31 & 50,000 & 53,100 & 3,100 \\ \hline Balance 12/31/20 & 85,000 & 87,300 & 2,300 \\ \hline \end{tabular} All investments are current assets The following are the 2021 transaction related to Available for Sale (AFS) securities Purchased Oscar Company Debt securities with a par vale of S100,000 for 598,000.Thesecurities 17/1/21 have an annual rate of 10% and mature on December 312023. PoiSippi uses the straight line method to amortize discounts or premiums 2 Sold all of Morgan Company securities for $33,000 plus interest of $1,750 for the 10/1/21 bond payment. Assume that the fair value at the time of sale was $$34,200 Received interest of $2,500 on Nance Company and $5,000 from Oscar Company debt securities. You need to calculate the interest the Interest Earned (Hint how many months are their between 7/1/21 and 12/31/23?) 4 12/31/2021 Determine the Cumulative change in FV for Oscar and Nance and provide the journal entry. B Given the following updated table, give the journal entry for the recognition of Unrealized gains or losses on AFS securities \begin{tabular}{|c|r|r|r|} \hline Company & \multicolumn{1}{|c|}{AmortizedCost} & FV12/31/2020 & CumulativechangeinFV \\ \hline Nance10%bondspaidtwiceayearpurchased@par6/30&12/31 & 50,000 & 55,000 & \\ \hline Oscar10%bondspaidtwiceayearpurchased@par7/1&12/31 & 98,400 & 96,000 & \\ \hline Balance 12/31/21 & 148,400 & 151,000 & \\ \hline \end{tabular} 412/31/2021 Determine the Cumulative change in FV for Oscar and Nance and provide the journal entry. \begin{tabular}{|c|l|l|l|} \hline Date & Account & Dr & Cr. \\ \hline & & & \\ \hline & \multicolumn{2}{|c|}{ Question, was this a holding gain or loss and where is it recognized in the financial Statements? } \\ \hline \multicolumn{2}{|c|}{} & \\ \hline \multicolumn{2}{|c|}{} & \\ \hline \end{tabular} Step by Step Solution
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