Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

p pol takertaunen.jspr des essment course-assessment-jd=-594g-acourse_a.sze, Lloconten Question Completion Status UEST During 2012, Blaylock Corp. made the following purchases: : 1,000 of the 500,000 outstanding

image text in transcribed
p pol takertaunen.jspr des essment course-assessment-jd=-594g-acourse_a.sze, Lloconten Question Completion Status UEST During 2012, Blaylock Corp. made the following purchases: : 1,000 of the 500,000 outstanding shares of Ogel Company common stock for $68 per share Inc.8% bo sat pr. Blayi ckp chased thesebon so ctober 1, 2012 Each bond has a $1,000 face value, pays coupons e ery March 31 and September 3 Corp. 6%bonds at Baylock purchased these bonds on January 2, 2012. Each bond has a $1 000 face value, pays coup severyJune 30 and December 31, and and matures on March 31, 2030. * 100AHI matures on December 31, 2021. The management of Blaylock classifies the Patterson bonds as available-for-sale and the AHl bonds as held-to-maturity. The Ogel investment is not large enough for significant influence. The December 31, 2012, fair market values of the investments were as follows Ogel stock: $73 per share .Patterson bonds: $970 each (.e. "at 97") .AHI bonds: $990 each ie, "at 991 The December 31, 2013, fair market values of the investments were as follows Ogel stock: $76 per share Patterson bonds: $960 each (at 96") AHI bonds: $1,020 each (.e, "at 102 During 2014, Blaylock sold its entire investment in Ogel stock for $75 per share. The December 31, 2014, fair market values of the remaining investment were as follows: Patterson bonds: $300 each (e, "at 30) AHI bonds: $1,010 each (.e., "at 101) As of December 31, 2014, Blaylock's management views the decline in value of the Patterson bonds as an impairment What is the aggregate value of the three investment assets that Blaylock would report on its December 31, 2012 balance sheet? $258,000 $259,300 $260,300 $263,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting International Edition

Authors: Jeffrey Waybright, Robert Kemp

1st Edition

0137067798, 978-0137067794

More Books

Students also viewed these Accounting questions

Question

Describe the major barriers to the use of positive reinforcement.

Answered: 1 week ago