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please be sure in question (a) you do the adjusting entries table full answer and in question (b) do also the tables and full answer
please be sure in question (a) you do the adjusting entries table full answer
and in question (b) do also the tables and full answer
a. On May 31st,2020, Ford company purchased a long-term investment related to Motre Company for $12 million as trading securities, of 8% quoted bonds. On the same date the business acquired $15 million of Cora Company shares as available for sale security and purchased Treasury bonds for $3 million, from Samsus Company hoping to generate profit in short period of time. b. On November 15th, 2020, Ford company sold the Samsuc Treasury bonds for $4 million. c. On December 31st, 2020, record the necessary adjusting entry(s) and closing entries related to the investments. The market prices of the investments are: Matre Company $11.5 million Cora Company $16 million Samsus Company $5 million Required: a. Record the necessary adjusting entries. (1 mark) b. Indicate any amounts that Ford would report in its 2020 statement of financial position and income statement as result of these investments. (1 mark)
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