06F IM WP E-6 LT Invstmts

06F IM WP E-6 LT Invstmts -...

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                         Apple Blossom Cologne Company                                     E-6                                                                         Long-Term Investments                                        1-28-04                                                                                         12-31-03                                                    JWP                                                                                                                                                                                                                                                                                                               
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Unformatted text preview: ============================================================================================== Interest Y Payment Interest Amort of Amort. Date (1/1/04) @ 5.5 % Discount Cost ================================================================================== Sears Credit Corp bonds, 10% par 7/2/03 72,173 12/31/03 3750 E 3,970 220 72,393 Balance per audit (TB-BS adjusted) Y Per broker's advice, yield to maturity is 11% (5.5% semi-annually). E Examined broker's advice. Coupon is 10% per annum,(5% semi-annually). Note: Propose (AJE #9) to transfer bond to long-term held-to-maturity category: Long-term investment 201 72,173 Investments in securities 115 72,173 Note: Client did not amortize discount or accrue interest on bond investment. Propose (AJE #11): Long-term investments 201 220 Miscellaneous receivable (int.) 107 3,750 Income from investments 920 3,970...
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