O Question Help Money Man Hardware operates a chain of hardware stores Recent operations have been stable and probleeding in a siglicant amount of cash flows. During the past fiscal year ended December 31, the company made a number of investments, described below (Click the icon to view the investment information) Required Determine how Money Man should report the above mens fancial statements Indude bonects on the balance sheet and the statement of comprehensive Income More info a. Money Man bought 12.000 shares of Supply Depot, a supplier of equipment for construction and renovation With indepth knowledge of the hardware retaling business Money Man's management believes that Supply Depof's shares are undervalued and that the company could make a quick profit selling the shares within the next 12 months Money Man purchased the shares at a price of 58 each, and received 50 60 per share of dividends during the year. The shares traded at 11 at the fiscal year-end b. The company purchased 9.000 units of a mutual fund which cost 514 each. The mutual fund invests primarily in shares. At the end of the year, the units had a quoted market value of $9 At the beginning of the year, Money Man bought 30% of the common shares in Builder Bee one of its smaller suppliers, for $6 milion These shares had a fair value of 55 25 million at the end of the year. During the year Builder Bee had profits of $600,000 and paid dividends of $200.000 Alligator had the following transactions relating to investments during the current focal year Alligator uses the effective interest method of amortization of premiums or discounts when applicable Click the icon to view the investment formation ) Question Help o Required Provide al journal entries required relating to these investments on July 1 and December 31, including any umalis required relating to the change in tal value for the year in journal entry is required relating to the change in far value, state so by selecting "No entry required on the first line of the Account column and bring the cells blank Record debes fest, then credits Explanations are not required) More info X a. On July 1. Alligator acquired a 5500.000, 12%, 10-year government bond with interest paid semiannually on January 1 and July 1. Because the market rate of interest was on that date. Alligator paid 5635.903 for the bond. The bonds were consided as amortized cost by Aligator and had a fair value of $530,000 plus accrued interest on December 31 b. On July 1. Alligator acquired 7,000 shares of Monkey at a price of $30 per share On December 31. dividends of 52.00 per share were declared with an expected date of payment 15 days later on December 31, the fair value of the Monkey shares had Increased to $31 per share. The shares are classified as fair value through profit or loss by Alligator c. On July 1. Aligator acquired 25,000 shares (30%) of the outstanding shares of Zebra at a price of 9 per share giving it significant influence over Zebra Zebra had net income of $450.000 for the six months ended December 31, and declared and paid dividends of $210.000 to its shareholders on December 31 on December 31, Zebra's shares had a fair value of $10 per shwe 3 of 8( complete P7-28 (similar to) HW Score: 67% 3.89 of 58 pts Question Help Money Man Hardware operates a chain of hardware stores Recent operations have been stable and profitable ronding in a significant amount of cash nows. During the past fiscal yew ended December 31, the company made a number of investments, described below Click the icon to view the investment Information) Required Determine how Money Man should report the above Investments in its financial statements. Include both effects on the balance sheet and the statement of comprehensive income More Info a. Money Man bought 12.000 shares of Supply Depot, a supplier of equipment for construction and renovation. With in-depth knowledge of the hardware retailing business Money Man's management believes that Supply Dup's shares are undervalued and that the company could make a quick profit seling the shares within the need 12 months Money Man purchased the shares at a price of Beach, and received 50 60 per share of dividends during the year. The shares traded at $11 at the fiscal year and b. The company purchased 9.000 units of a mutual fund which cost $10 each. The mutual fund invests primarily in sharest the end of the year, the units had a quoted market value of 59 c. At the beginning of the year, Money Man bought 30% of the common shares in Bulder les one of its smaller suppliers for 56 million. These shares had a fair value of 5625 million at the end of the year During the year Builder Bee had profits of $500,000 and paid dividends of $200.000 Print Done Check Answer O Question Help Money Man Hardware operates a chain of hardware stores Recent operations have been stable and probleeding in a siglicant amount of cash flows. During the past fiscal year ended December 31, the company made a number of investments, described below (Click the icon to view the investment information) Required Determine how Money Man should report the above mens fancial statements Indude bonects on the balance sheet and the statement of comprehensive Income More info a. Money Man bought 12.000 shares of Supply Depot, a supplier of equipment for construction and renovation With indepth knowledge of the hardware retaling business Money Man's management believes that Supply Depof's shares are undervalued and that the company could make a quick profit selling the shares within the next 12 months Money Man purchased the shares at a price of 58 each, and received 50 60 per share of dividends during the year. The shares traded at 11 at the fiscal year-end b. The company purchased 9.000 units of a mutual fund which cost 514 each. The mutual fund invests primarily in shares. At the end of the year, the units had a quoted market value of $9 At the beginning of the year, Money Man bought 30% of the common shares in Builder Bee one of its smaller suppliers, for $6 milion These shares had a fair value of 55 25 million at the end of the year. During the year Builder Bee had profits of $600,000 and paid dividends of $200.000 Alligator had the following transactions relating to investments during the current focal year Alligator uses the effective interest method of amortization of premiums or discounts when applicable Click the icon to view the investment formation ) Question Help o Required Provide al journal entries required relating to these investments on July 1 and December 31, including any umalis required relating to the change in tal value for the year in journal entry is required relating to the change in far value, state so by selecting "No entry required on the first line of the Account column and bring the cells blank Record debes fest, then credits Explanations are not required) More info X a. On July 1. Alligator acquired a 5500.000, 12%, 10-year government bond with interest paid semiannually on January 1 and July 1. Because the market rate of interest was on that date. Alligator paid 5635.903 for the bond. The bonds were consided as amortized cost by Aligator and had a fair value of $530,000 plus accrued interest on December 31 b. On July 1. Alligator acquired 7,000 shares of Monkey at a price of $30 per share On December 31. dividends of 52.00 per share were declared with an expected date of payment 15 days later on December 31, the fair value of the Monkey shares had Increased to $31 per share. The shares are classified as fair value through profit or loss by Alligator c. On July 1. Aligator acquired 25,000 shares (30%) of the outstanding shares of Zebra at a price of 9 per share giving it significant influence over Zebra Zebra had net income of $450.000 for the six months ended December 31, and declared and paid dividends of $210.000 to its shareholders on December 31 on December 31, Zebra's shares had a fair value of $10 per shwe 3 of 8( complete P7-28 (similar to) HW Score: 67% 3.89 of 58 pts Question Help Money Man Hardware operates a chain of hardware stores Recent operations have been stable and profitable ronding in a significant amount of cash nows. During the past fiscal yew ended December 31, the company made a number of investments, described below Click the icon to view the investment Information) Required Determine how Money Man should report the above Investments in its financial statements. Include both effects on the balance sheet and the statement of comprehensive income More Info a. Money Man bought 12.000 shares of Supply Depot, a supplier of equipment for construction and renovation. With in-depth knowledge of the hardware retailing business Money Man's management believes that Supply Dup's shares are undervalued and that the company could make a quick profit seling the shares within the need 12 months Money Man purchased the shares at a price of Beach, and received 50 60 per share of dividends during the year. The shares traded at $11 at the fiscal year and b. The company purchased 9.000 units of a mutual fund which cost $10 each. The mutual fund invests primarily in sharest the end of the year, the units had a quoted market value of 59 c. At the beginning of the year, Money Man bought 30% of the common shares in Bulder les one of its smaller suppliers for 56 million. These shares had a fair value of 5625 million at the end of the year During the year Builder Bee had profits of $500,000 and paid dividends of $200.000 Print Done Check