PLEASE GIVE DETAILED ANSWER AND EXPLAINATIONS, PLEASE DO ALL PART FROM A TO N $($PART A WILL BE PROVIDED IN THE PHOTO ATTACHED, PART B TO N WILL BE PROVIDED IN TEXT$).$ AND DO NOT COPY ANSWERS FROM SIMILAR QUESTIONS.THANK YOU!

b$.$ FV$-$NI Investments

At December $31,2023$; the fair value of the short$-$term investments were:

Redemption Corp $$12\mathrm{.}63$ per share

ALM Corp $$23\mathrm{.}98$ per share

In the excel spreadsheet, see the tab $$FV$-$NI Investments$$ to perform any necessary calculations.

c$.$ Prepaid Insurance

The prepaid amount on the trial balance consists of a payment made to State Farm Insurance on

October $1,2023.$ The policy lasts $18$ months.

d$.$ Inventory $$ LCM

The company has the policy of stating all inventory on hand at the lower of cost and net realizable value. The company uses the direct method for any adjustments to inventory.

NOTE $$ on the income statement use $$Cost of Goods Sold$$ from the trial balance $-$ do not

calculate the cost of goods sold.

In the excel spreadsheet, see the tab $$Inventory Detail$$ to perform any necessary calculations.

e$.$ Record Depreciation on assets

Depreciate the fixed assets according to the schedule. Depreciation is calculated on an annual

basis.

In the excel spreadsheet, see the tab $$Fixed Asset Details$$ to perform any necessary calculations

f$.$ Trade a vehicle

On December $31,2023($after depreciation was recorded$)$; the company traded the Toro lawn mower which was acquired on February $1,2021($asset #$2021-02)$ for a $2014$ Ford F$150.$ In addition to the trade, the company paid $$6,000$ cash for the new truck. The fair value of the Toro lawn mower on this date was $$18,000.$ Assume that this transaction HAS commercial substance.

Once this new asset is purchased, do not depreciate it since it was purchased on the last day of the year.

In the excel spreadsheet, see the tab $$Fixed Asset Details$$ to perform any necessary calculations; and update the schedule as needed.

g$.$ Investments $$FV$-$OCI

On December $31,2023,$ the fair value per share of Hub Cap Company was $$11\mathrm{.}25$ per share.

Aylmer decided to sell its shares in Hub Cap Company at that time $($sale was not recorded on the trial balance$)$

In the excel spreadsheet, see the tab $$FV$-$OCI Investments$$ to perform any necessary

calculations.

h$.$ Bank Loan

The loan for $$8,000,000$ was borrowed at January $1,2023.$ Interest on the bank loan is $2\mathrm{.}75\%$

annually. Interest has to be paid every January $2,$ so the first interest payment is due January $2,$

$2024.$ No principal payments were made during the year. Of the bank loan, $$2,000,000$ is due

June $30,2024$ with the remainder due June $30,2029.$

i$.$ Notes Payable

This is a short$-$term note. The company borrowed money from JRT Investments on October $31,$

$2023$ for $3$ months. The principle, along with interest is to be repaid on January $31,2024.$ The

interest rate is $1\mathrm{.}5\%.$

j$.$ Long$-$term contracts

The company uses the percentage of completion method for recording long$-$term contracts. The

company has two long$-$term contracts with details below provided for one of the projects.

Project $1-$ Downtown Hotel & Shopping Centre

$$ Contract price is $$20,000,000.$

$$ Expected completion date is in $2025$

In the excel spreadsheet, see the tab $$Revenue Recognition$$ to perform any necessary

calculations related to the revenue earned on this project. The other project has already been

accounted for properly and the accounting for Project $1$s outstanding billings is already reflected

in the unadjusted trial balance.

k$.$ Accrue wages

Employees work Monday to Friday and employees are paid weekly. December $31,2023$ is a

Thursday. Assume that hourly employees work $8$ hours per day and that there are $52$ weeks a

year for salaried employees.

In the excel spreadsheet, see the tab $$Payroll Details$$ to perform any necessary calculations.

l$.$ Intangible Assets

Amortize the intangibles according to the schedule. Amortization is recorded on an annual basis.

In the excel spreadsheet, see the tab $$Intangible Assets$$ to perform any necessary calculations

m$.$ Dividends

On December $31,2023$ a dividend of $$0\mathrm{.}70$ was declared to shareholders of record on January

$10,2023$ to be paid January $29,2024.$

n$.$ Taxes To be ignored for this project

REQUIRED:

Prepare journal entries and supporting schedules for the above transactions $($ALL TRANSACTIONS FROM A TO N$).$

This is my second time posting this because the last person only answer transaction a$.$

So please remember to answer all parts from a to n$.$ I will leave a thumb up if your answer is correct and detailed! Thanks