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Presented below is information taken from a bond investment amortization schedule with related fair values provided. These bonds are classified as available-for-sale. Amortized cost Fair
Presented below is information taken from a bond investment amortization schedule with related fair values provided. These bonds are classified as available-for-sale. Amortized cost Fair value Discount (b) (c) (a) Indicate whether the bonds were purchased at a discount or at a premium. Dec. (b) 31, 12/31/20 12/31/21 Prepare the adjusting entry to record the bonds at fair value at December 31, 2020, The Fair Value Adjustment account has a debit balance of $1,100 prior to adjustment. Prepare the adjusting entry to record the bonds at fair value at December 31, 2021. 2020 $489,700 $546,800 $496,100 $535,800 D (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Dec. No. Date Account Titles and Explanation (c) 31, 2021 12/31/22 $571,000 $571,000 Fair Value Adjustment Unrealized Holding Gain or Loss - Equity Fair Value Adjustment Unrealized Holding Gain or Loss - Equity Debit 6400 18500 Credit 6400 18500 Presented below is information taken from a bond investment amortization schedule with related fair values provided. These bonds areclassified as available-for-sale. (a) Indicate whether the bonds were purchased at o discount or at a premium. (b) Prepare the adjusting entry to record the bonds at fair value at December 31, 2020. The Fair value Adjustment account has a debit balance of $1,100 prior to adjustment. (c) Prepare the adjusting entry to record the bonds at fair value at December 32,2021. Credit occount titles are automaticaly indented when emount is entered. Do not indent manually if no entry is required, select "No Entry' for the occount tities and enter O for the amounts.)
Presented below is information taken from a bond investment amortization schedule with related fair values provided. These bonds are classified as available-for-sale. Amortized cost Fair value Discount (b) (c) (a) Indicate whether the bonds were purchased at a discount or at a premium. Dec. (b) 31, 12/31/20 12/31/21 Prepare the adjusting entry to record the bonds at fair value at December 31, 2020, The Fair Value Adjustment account has a debit balance of $1,100 prior to adjustment. Prepare the adjusting entry to record the bonds at fair value at December 31, 2021. 2020 $489,700 $546,800 $496,100 $535,800 D (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Dec. No. Date Account Titles and Explanation (c) 31, 2021 12/31/22 $571,000 $571,000 Fair Value Adjustment Unrealized Holding Gain or Loss - Equity Fair Value Adjustment Unrealized Holding Gain or Loss - Equity Debit 6400 18500 Credit 6400 18500
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