ch17 - SOLUTIONS TO B EXERCISES E17-1B (1015 minutes) (a) 2...

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Unformatted text preview: SOLUTIONS TO B EXERCISES E17-1B (1015 minutes) (a) 2 (b) 1 (c) 3 (d) 1 (e) 2 (f) 2 E17-2B (1520 minutes) (a) July 1, 2006 Held-to-Maturity Securities....................................... 250,000 Cash..................................................................... 250,000 (b) December 31, 2006 Interest Receivable.................................................... 10,000 Interest Revenue................................................ 10,000 (c) July 1, 2007 Cash............................................................................ 20,000 Interest Revenue................................................ 10,000 Interest Receivable............................................ 10,000 December 31, 2007 Interest Receivable.................................................... 10,000 Interest Revenue................................................ 10,000 17-1 E17-3B (1520 minutes) (a) January 1, 2006 Held-to-Maturity Securities.............................. 428,937.98 Cash........................................................... 428,637.98 (b) Schedule of Interest Revenue and Bond Premium Amortization Effective Interest Method 5% Bonds Sold to Yield 7% Date Cash Received Interest Revenue Premium Amortized Carrying Amount of Bonds 1/1/06 $428,937.98 6/30/06 $12,500.00 $15,012.83 $2,512.83 431,450.81 12/31/06 12,500.00 15,100.78 2,600.78 434,051.59 6/30/07 12,500.00 15,191.81 2,691.81 436,743.40 12/31/07 12,500.00 15,286.02 2,786.02 439,529.42 6/30/08 12,500.00 15,383.53 2,883.53 442,412.95 12/31/08 12,500.00 15,484.45 2,984.45 445,397.40 (c) June 30, 2006 Cash................................................................... 12,500.00 Held-to-Maturity Securities.............................. 2,512.83 Interest Revenue....................................... 15,012.83 December 31, 2006 Cash................................................................... 12,500.00 Held-to-Maturity Securities.............................. 2,600.78 Interest Revenue....................................... 15,100.78 17-2 E17-4B (1015 minutes) (a) January 1, 2006 Available-for-Sale Securities........................... 428,937.98 Cash........................................................... 428,637.98 (b) June 30, 2006 Cash................................................................... 12,500.00 Available-for-Sale Securities........................... 2,512.83 Interest Revenue....................................... 15,012.83 December 31, 2006 Cash................................................................... 12,500.00 Available-for-Sale Securities........................... 2,600.78 Interest Revenue....................................... 15,100.78 Unrealized Holding Gain or Loss Equity ($430,000.00 $434,059.51).............. 4,059.51 Securities Fair Value Adjustment Available-for-Sale.................................. 4,059.51 (c) December 31, 2007 Unrealized Holding Gain or LossEquity..... 10,469.91 Securities Fair Value Adjustment...
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This note was uploaded on 05/10/2010 for the course ACC 440 BSB1658 taught by Professor Warwick during the Spring '09 term at University of Phoenix.

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ch17 - SOLUTIONS TO B EXERCISES E17-1B (1015 minutes) (a) 2...

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