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please answer it properly all parts . Safety Development Corporation had relatively large idle cash balances and invested them as follows in securities to be
please answer it properly all parts .
Safety Development Corporation had relatively large idle cash balances and invested them as follows in securities to be held as non-strategic investments 2023 Feb, 7 Purchased 4 , eee comon shares of Royal Bank at $28.38, plus $500 in transaction fees. 19 Purchased 3 , eee comon shares of Inperial 011 at $56.25, and paid $250 in transaction fees. Apr. 1 Paid $106,045 plus 5500 in transaction fees for a 8.00%, four-year, $108, 060 Minco Inc. bond that pays interest quarterly beginning June 30 . The market rate of interest on this date was 8.40%. Sellers Corporation plans to hold this investment for the duration of the bond's contract 1 ife. May 26 Purchased 3,800 comon shares of BCE at $15.18, plus $200 in transaction fees. June 1 Recelved a $9.25 per share cash dividend on the Royal Bank comnon shares. 17 Sold 3 , ead hoyal Bank comon shares at $28.80. 30 Received interest on the Minco Inc. bond. Aug. 5 Received a $0.50 per share cash dividend on the Imperial ofl comon thares. Sept. 1 Received a 50.275 per share cash dividend on the remaining Royal gank common shares. 30 Received interest on the Minco Ine. bond. Dec. 31 Received interest on the Rinco Inc. bond. On December 31, 2023, the fair values of the investments held by Safety Development Corporation were: Royal Bank, 529.30 : Imperial OII, \$54,63; and BCE, \$15.30. Assume the fair value and carrying value of the Minco inc bond were equal. Required: 1. Prepare an amortization schedule for the Minco Inc. bond showing only 2023 . (Round your intermediate and final answers to the nearest whole dollar amount. Enter all the amounts as positive values.) 3. Show how the investments will be reported on the December 31, 2023, balance sheet (Round your intermediate and final answers to the nearest whole dollar amount.) Analysis Component: If the fair value adjustment is not recorded by Safety Development Corporation, what is the impact on the financial statements? Journal entry worksheet 2. Prepare journal entries to record the investment activity including the appropriate fair value adjustment on Decembe (Round your intermediate and final answers to the nearest whole dollar amount.) Step by Step Solution
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