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Safety Development Corporation had relatively large idle cash balances and invested them as follows in securities to be heid as nonstrategic investments: 2023 Feb. 7
Safety Development Corporation had relatively large idle cash balances and invested them as follows in securities to be heid as nonstrategic investments: 2023 Feb. 7 Purchased 4,100 comon shares of Royal Bank at $28.40, plus $50e in transactlon fees. 19 Purchased 3,180 common shares of Imperial oil at $56.50, and paid $250 in transaction fees. Apr. 1 Paid $107,037 plus $500 in transaction fees for a 8.20%, four-year, $109, eee Minco Ine. bond that pays interest quarterly beginning June 30 . The market rate of interest on this date was 8 , 60%. Sellers corporation plans to hold this investenent for the duration of the bond's contract life. May 26 Purchased 3,900 comon shares of BCE at $15.28, plus $280 in transaction fees. June 1 Received a $0.25 per share cash dividend on the Royal Bank common shares. 17 sold 3,100 Royal Bank comon shares at $28.90. 30 Received interest on the Minco Inc. bond. Aug. 5 Received a 30,5e per share cash dividend on the Imperial oil comon shares. Sept. 1 Received a 50.275 per share cash dividend on the remaining Royal Bank comon shares. 3 Received interest on the Minco Inc. bond. Dec. 31 Received interest on the Minco Inc. bond. On December 31,2023 , the fair values of the investments held by Safety Development Corporation were: Royal Bank, $29.40 : Imperial Oil, \$54 88, and BCE, \$15.40. Assume the fair value and carrying value of the Minco Inc bond were equal. Required: 1. Prepare an amortization schedule for the Minco inc. bond showing only 2023. (Round your intermediate and final answers to the nearest whole dollar amount. Enter all the amounts as positive values.) 3. Show how the investments will be reported on the December 31,2023 , balance sheet. (Round your intermediate and final answers to the nearest whole dollar amount.) Analysis Component: If the fair value adjustment is not recorded by Safety Development Corporation, what is the impact on the financial statements
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