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!!!!!!!! PLEASE ANSWER ALL PARTS !!!!!!!! Castle Investments completed the following investment transactions during 2018: (Click the icon to view the investment transactions.) i More
!!!!!!!! PLEASE ANSWER ALL PARTS !!!!!!!!
Castle Investments completed the following investment transactions during 2018: (Click the icon to view the investment transactions.) i More Info 2018 Jan. 5 Purchased VanCan Company's $425,000 bond at face value. Castle classified the investment as available-for-sale. The VanCan bond pays interest at the annual rate of 7% on June 30 and December 31 and matures on December 31, 2021. Management's intent is to keep the bonds for several years. Received an interest payment from VanCan. Received an interest payment from VanCan. Adjusted the investment to its current market value of $423,000. Jun. 30 Dec. 31 31 0 Requirements 1. Journalize Castle's investment transactions. Explanations are not required. 2. Prepare a partial balance sheet for Castle's VanCan investment as of December 31, 2018. 3. Prepare a comprehensive income statement for Castle Investments for year ended December 31, 2018. Assume net income was $240,000Step by Step Solution
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