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Question 1 please answer. Record the collection of term deposit and interest earned. 7 Record the collection of dividend income. 3. Show how Live Large
Question 1 please answer.
Record the collection of term deposit and interest earned. 7 Record the collection of dividend income. 3. Show how Live Large Inc.'s investments will appear on its December 31, 2023, balance sheet. (Round your intermediate answers to the nearest whole dollar amount.) Feb. 16 Sold the remaining Blue Balloon shares at \\( \\$ 26.50 \\). Required: 1. Prepare an amortization schedule for the Space Explore bond showing only 2023 and 2024 . (Round your intermediate and final answers to the nearest whole dollar amount. Enter all the amounts as positive values. Use 365 days in a year.) 1 Record the purchase of \6.5 term deposit as short-term investment. 2 Record the purchase of short-term investment. 3 Record the purchase of short-term investment. 4 Record the purchase of short-term investment. 5 Record the purchase of a \8.5, 8-year bond. 6 Record the collection of term deposit and interest earned. 7 Record the collection of dividend income. Note: : journal entry has been entered Live Large Inc. had the following transactions involving non-strategic investments during 2023. 2023 Apr. 1 Paid \\( \\$ 118,050 \\) to buy a 90 -day term deposit, \\( \\$ 118,000 \\) principal amount, \6.5, dated April 1 . There was a \\( \\$ 50 \\) transaction fee included in the above-noted payment amount. 12 Purchased 4,800 common shares of Blue Balloon Ltd. at \\( \\$ 22.25 \\). There was a \\( \\$ 50 \\) transaction fee included in the above-noted payment amount. June 9 Purchased 3,600 common shares of Purple Car Corp. at \\( \\$ 51.00 \\). There was a \\( \\$ 50 \\) transaction fee included in the above-noted payment amount. 20 Purchased 1,600 common shares of Yellow Tech Ltd. at \\( \\$ 15.75 \\). There was a \\( \\$ 50 \\) transaction fee included in the above-noted payment amount. July 1 Purchased for \\( \\$ 85,912 \\) a \8.5, \\( \\$ 83,000 \\) Space Explore Inc. bond that matures in eight years when the market interest rate was \7.9. There was a \\( \\$ 50 \\) transaction fee included in the above-noted payment amount. Interest is paid semiannually beginning December 31,2023 . Live Large Inc. plans to hold this investment until maturity. 3 Received a cheque for the principal and accrued interest on the term deposit that matured on June 30. 15 Received a \\( \\$ 0.95 \\) per share cash dividend on the Blue Balloon Ltd. common shares. 28 Sold 2,400 of the Blue Balloon Ltd. common shares at \\( \\$ 26.00 \\). Sept. 1 Received a \\( \\$ 2.90 \\) per share cash dividend on the Purple Car Corp. common shares. Dec. 15 Received a \\( \\$ 1.35 \\) per share cash dividend on the remaining Blue Balloon Ltd. common shares owned. 31 Received the interest on the Space Explore Inc, bond. 31 The fair values of Live Large Inc.'s investments on this date were Blue Balloon shares, \\$26.40; Purple Car Corp. Shares, \\$44.15; Yellow Tech shares, \\$20.55. Assume the fair value and the carrying value of the Space Explare bond were equal. Feb. 16 Sold the remaining Blue Balloon shares at \\( \\$ 26.50 \\). Required: 1. Prepare an amortization schedule for the Space Explore bond showing only 2023 and 2024. (Round your intermediate and final answers to the nearest whole dollar amount. Enter all the amounts as positive values. Use 365 days in a year.)Step by Step Solution
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