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please solve it quickly BestwishesC . provided you with the following information regarding its investments at 31 December 2020: Investments Sunny Co shares (trading) Cherry
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BestwishesC . provided you with the following information regarding its investments at 31 December 2020: Investments Sunny Co shares (trading) Cherry Co shares (trading) Viva Co shares (trading) Marco Co 9% bonds with face amount of $300.000 to yield 12%, dated 1 January 2020, mature in 3 years, interest is payable each 31 December (held for collection) Cost($) 20.000 10.000 17.500 278384 (unamortized) Fair Value ($) 21.000 8.000 15.000 275.000 All of the investments were purchased in 2020. In 2021, Bestwishes Co. completed the following investment transactions. 15-Mar sold its all investments in Cherry Co shares for $9.500 01-Apr Received $5000 cash divided from its investment in Sunny Co shares 01-Jun bought Aries Co. shares for $17.500 (trading) 10-Nov Sold a half total investment in Viva Co shares for $12.500 On 31 December 2021 the investments for Bestwishes are as follows: Investments Sunny Co shares (trading) Cherry Co shares (trading) Viva Co shares (trading) Marco Co 9% bonds with face required: Cost($) 20.000 10.000 17.500 278.384 Fair Value ($) 21.000 8.000 15.000 275.000 a. prepare a bond amortization schedule for Marco bonds from 2020 to 2021 b. prepare all necessary journal entries relating to investment transactions during 2021 c. prepare thejournal entry to redord interest revenue, amortizaton and adjusting entries (if any) for 2021 d. show the statement of financial position presentation of the investment related accounts as of 31 December 2021
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