E 12.01 – Tanner-UNF
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
HELD TO MATURITY BONDS: Journal entries for bond investment, interest and sale.
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HELD TO MATURITY BONDS: Journal entries for bond investment, interest and sale.
Your numbers will vary.
TRADING PORTFOLIO BONDS: Prepare journal entries for bond purchase, interest and sale.
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Given a list of transactions from throughout the year… prepare journal entries for each transaction along with determining the amounts that would be reported on the income statement, statement of comprehensive income, and balance sheet when categorizing the investments as securities available-for-sale.
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Given a list of transactions relating to the buying and selling of stocks for multiple companies… prepare a journal entry for each of the transactions.
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Match each phrase with its corresponding terminology, business purpose test, IFRS no. 9, etc…
Using the indirect method, how would the following transactions impact the statement of cash flows for XYZ Corporation?
If a company such as Dinsburry determines that an investment previously classified as trading security is now more appropriately classified as held-to-maturity, what actions would it take?
How would Ziggy Company proceed if it decides to reclassify an investment from held-to-maturity to available-for-sale?
What action would Dizbert Company take if it determined that an investment initially classified as available-for-sale is now more appropriately categorized as held-to-maturity?
How does accounting for an investment as a trading security compare to accounting for it as an available-for-sale security, in terms of its impact on a company’s cash flows and reported profit?