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Required information Problem 1 5 - 2 A ( Algo ) Recording, adjusting, and reporting available - for - sale debt securities LO P 3
Required information
Problem A Algo Recording, adjusting, and reporting availableforsale debt securities LO P
The following information applies to the questions displayed below.
Mead Incorporated began operations in Year Following is a series of transactions and events involving its longterm debt investments in availableforsale securities
Year
January Purchased Johnson & Johnson bonds for $
February Purchased Sony notes for $
June Purchased Mattel bonds for $
December Fair values for debt in the portfolio are Johnson & Johnson, $; Sony, $; and Mattel, $
Year
April Sold all of the Johnson & Johnson bonds for $
July Sold all of the Mattel bonds for $
July Purchased Sara Lee notes for $
August Purchased Kodak bonds for $
December Fair values for debt in the portfolio are Kodak, $; Sara Lee, $; and Sony, $
Year
February Purchased Microsoft bonds for $
June Sold all of the Sony notes for $
June Purchased Black & Decker bonds for $
August Sold all of the Sara Lee notes for $
November Sold all of the Kodak bonds for $
December Fair values for debt in the portfolio are Black & Decker, $; and Microsoft, $
Problem A Algo Part
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