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Pronghorn Corporation, a public company, has the following investments at November 30, 2024: 1. Investments held for trading purposes: common shares of National Bank, carrying
Pronghorn Corporation, a public company, has the following investments at November 30, 2024:
1. | Investments held for trading purposes: common shares of National Bank, carrying amount $23,000, fair value $23,900, and five-year, 5% bonds of Turbo Corp., carrying amount $46,000, fair value $44,200 | |
2. | FVTOCI investment: 25% of the common shares of Sword Corp., carrying amount $99,400, fair value $96,600 | |
3. | Strategic investment: common shares of Epee Inc. (30% ownership), cost $193,200, equity method balance $230,000 | |
4. | Debt investment purchased to earn interest: bonds of Ghoti Ltd. maturing in four years, amortized cost $138,000, fair value $161,000 | |
5. | Debt investment purchased to earn interest: Canadian government 120-day treasury bill, purchased at $23,000, $115interest accrued to November 30, 2024 |
Show how the investments would be reported in the assets section of the balance sheet.
PRONGHORN CORPORATION Balance Sheet (Partial) choose the accounting period November 30, 2024Quarter Ended November 30, 2024Month Ended November 30, 2024 | ||
---|---|---|
Assets | ||
select an opening name for subsection one Current AssetsCurrent LiabilitiesLong-Term LiabilitiesNon-Current AssetsShare CapitalShareholders' Equity | ||
select a balance sheet item Investment in AssociateInvestments at Amortized CostInvestments at Amortized Cost, Treasury BillInvestments at Fair Value through Other Comprehensive IncomeInvestments at Fair Value through Profit or Loss | $enter a dollar amount | |
select a balance sheet item Investment in AssociateInvestments at Amortized CostInvestments at Amortized Cost, Treasury BillInvestments at Fair Value through Other Comprehensive IncomeInvestments at Fair Value through Profit or Loss | enter a dollar amount | |
enter a subtotal of the two previous amounts | ||
select an opening name for subsection one Current AssetsCurrent LiabilitiesLong-Term LiabilitiesNon-Current AssetsShare CapitalShareholders' Equity | ||
select a balance sheet item Investment in AssociateInvestments at Amortized CostInvestments at Amortized Cost, Treasury BillInvestments at Fair Value through Other Comprehensive IncomeInvestments at Fair Value through Profit or Loss | enter a dollar amount | |
select a balance sheet item Investment in AssociateInvestments at Amortized CostInvestments at Amortized Cost, Treasury BillInvestments at Fair Value through Other Comprehensive IncomeInvestments at Fair Value through Profit or Loss | enter a dollar amount | |
select a balance sheet item Investment in AssociateInvestments at Amortized CostInvestments at Amortized Cost, Treasury BillInvestments at Fair Value through Other Comprehensive IncomeInvestments at Fair Value through Profit or Loss | enter a dollar amount | |
enter a subtotal of the three previous amounts |
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