Tsunami Sushi purchases $120 000 o 5- ar, 8% bonds from Doop Sca Explo ns on January 1 Manager ont intends o hold ho dobt soo ntio 30 and December 31. Due to changing market condisions, the fair value of the bonds a December 31 is $114,000. o matunty. For bonds of s mlar nsk and maturity to maricet ato s 9%. Tsunami pa d $115 2 2 or to bonds. reco es nt rost sem annualy on Juno Required: 1., 2.& 3. Recond the necessary entries regarding the bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list ournal entry worksheet Record the purchase of bonds Note: Enter debits before credits. Record entry View general journal Clear entry 4. Al what amount will Tsunami Sushi report its investmennt in the December 31 balance sheer? Ba Hank, and Babe form noompany named Long Ball Inves on hoping to find that usng home un stock. Anow clothingcompany by the na mo o M" or alue common. Long Ball Investments has the following transactions during the year. None of the ivestments are large enough to exert a signifcant influence. Loague Apparol has caught ther oyo. Major League Appare has two clasea o stock author classos of d: 5%, $10 par pre red and $1 par January 2 Purchase 1,500 shares of Major League common stock for $67 per share. February 14 Purchase 600 shares of Major League preferred stock for $11.70 per share. May 15 Sel 300 shares of Major League's common stock for $59 per shane December 30 Receive a cash dividend on Major League's ccmmon stock of $0.47 per share and preferred stock of S0.57 per share December 31 The fair values of the common and preferred shares are $69.70 and 513.40, respectvely. 1, Record each of these investment transactions. (Hint: Preferred stock transactions are recorded like c required" in the first account field.) common stock transactions, but preferred stock has no voting rights and therefore ownership provides no influence.) (If no entry is required for a transaction/event, select "No journal entry View transaction list Journal entry worksheet Record the purchase of common stock Note: Enter debits before credits. Jenuary 02 Record entry View general journal Clear entry 2. Calculate the balance in the Investments account as of December 31 account as of Mr. T's Fashions, once a direct competitor to Italian Stallion's clothing line, has formed a friendship n recent years leading to a small investment less than 5% by Mr. T in the common stock of Italian Stallion. Mr. T's engages in the following transactions relating to its investment February 1 Purchases 200 shares of Italian Stallion common stock for $15.20 per share. June 15 Sells 60 shares of Italian Stallion stock for $12.40 per share October 31 Receives December 31 The fair value of Italian Stallion's stock is $10.40 per share. a cash dividend of $0.85 per share. Required: 1. Record each of these transactions, including an adjustment on December 31 for the investment's fair value, if appropriate. (If no entry is required for a transaction/event, select "No journal entry required field.) in the first account View transaction list Journal entry worksheet Record the purchase of common stock Note: Enter debits before credits. Date General Journal Debit Credit February 01 Record entry Clear entry View general journal 2. Calculate the balance of the Investments account on December 31 Tsunami Sushi purchases $120 000 o 5- ar, 8% bonds from Doop Sca Explo ns on January 1 Manager ont intends o hold ho dobt soo ntio 30 and December 31. Due to changing market condisions, the fair value of the bonds a December 31 is $114,000. o matunty. For bonds of s mlar nsk and maturity to maricet ato s 9%. Tsunami pa d $115 2 2 or to bonds. reco es nt rost sem annualy on Juno Required: 1., 2.& 3. Recond the necessary entries regarding the bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list ournal entry worksheet Record the purchase of bonds Note: Enter debits before credits. Record entry View general journal Clear entry 4. Al what amount will Tsunami Sushi report its investmennt in the December 31 balance sheer? Ba Hank, and Babe form noompany named Long Ball Inves on hoping to find that usng home un stock. Anow clothingcompany by the na mo o M" or alue common. Long Ball Investments has the following transactions during the year. None of the ivestments are large enough to exert a signifcant influence. Loague Apparol has caught ther oyo. Major League Appare has two clasea o stock author classos of d: 5%, $10 par pre red and $1 par January 2 Purchase 1,500 shares of Major League common stock for $67 per share. February 14 Purchase 600 shares of Major League preferred stock for $11.70 per share. May 15 Sel 300 shares of Major League's common stock for $59 per shane December 30 Receive a cash dividend on Major League's ccmmon stock of $0.47 per share and preferred stock of S0.57 per share December 31 The fair values of the common and preferred shares are $69.70 and 513.40, respectvely. 1, Record each of these investment transactions. (Hint: Preferred stock transactions are recorded like c required" in the first account field.) common stock transactions, but preferred stock has no voting rights and therefore ownership provides no influence.) (If no entry is required for a transaction/event, select "No journal entry View transaction list Journal entry worksheet Record the purchase of common stock Note: Enter debits before credits. Jenuary 02 Record entry View general journal Clear entry 2. Calculate the balance in the Investments account as of December 31 account as of Mr. T's Fashions, once a direct competitor to Italian Stallion's clothing line, has formed a friendship n recent years leading to a small investment less than 5% by Mr. T in the common stock of Italian Stallion. Mr. T's engages in the following transactions relating to its investment February 1 Purchases 200 shares of Italian Stallion common stock for $15.20 per share. June 15 Sells 60 shares of Italian Stallion stock for $12.40 per share October 31 Receives December 31 The fair value of Italian Stallion's stock is $10.40 per share. a cash dividend of $0.85 per share. Required: 1. Record each of these transactions, including an adjustment on December 31 for the investment's fair value, if appropriate. (If no entry is required for a transaction/event, select "No journal entry required field.) in the first account View transaction list Journal entry worksheet Record the purchase of common stock Note: Enter debits before credits. Date General Journal Debit Credit February 01 Record entry Clear entry View general journal 2. Calculate the balance of the Investments account on December 31