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pleass help ? On January 2, 2018 Pearl corporation purchased 10% 51,500,000 bonds of Gold Company to yield 11%. The bonds are due December 31,

pleass help ?

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On January 2, 2018 Pearl corporation purchased 10% 51,500,000 bonds of Gold Company to yield 11%. The bonds are due December 31, 2027 and pay inforest annually each December 31 Peant intention is to generate profit from short-term atterences in prices and accordingly, has classified the debt investment as trading. Following is a partial amortization schedule for these bonds extracted from Pearl's records AMORTIZATION SCHEDULE 10-Year, 10% Bonds Sold to Yield 11% Carrying Cash Interest Discount Amount of Date Received Revenue Amortized Bonds 1/2/18 0 0 0 $1411,655 12/31/18 $150,000 777 ??? ??? 12/31/19 150,000 155,86 5,863 1,422,800 3 12/31/20 150,000 158,508 6,508 1.429,308 12/31/21 150,000 ??? ??? ??? 12/31/22 150,000 158,019 8,019 1.444,551 Required: a) Calculate the missing numbers in the previous table for the years 2018 and 2021 b) Assume that the fair value of the bonds on December 31 2000, is 51 440,000 Prepare the necessary adjusting entry c) Show in proper format the effect on the income statement on December 31, 2020 d) Assume that on September 1 2022 Pearl Corporation sold its Gold debt westment at 95 Question Completion State Date 1/2/18 12/31/18 12/31/19 Cash Received 0 $150,000 150,000 Discount Amortid 0 727 5,883 Amount of Bonds 51411,655 Interest Revenue 0 272 155 86 3 158,508 ??? 158,019 .227 1.422,800 12/31/20 12/31/21 12/31/22 150,000 150,000 150,000 6,508 ??? 8,019 1,429,308 ??? 1,444,551 Required: a) Calculate the missing numbers in the previous table for the years 2018 and 2021 b) Assume that the fair value of the bonds on December 31, 2020, is 51.440,000. Prepare the necessary aunting entry c) Show in proper format the offect on the income statement on December 31, 2020 d) Assume that on September 1 2022 Pearl Corporation sold is Gold debit investment 95 - Record the necessary amortization entry Calculate the gain or loss from the sale - Calculate the total cash received by Pearl corporation For the toolbar, prest ALTO PCO ALTAF R US Danh Art 100 I. Hil 111 2 . XO

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