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For instructor use only h 10 reporting and analyzing

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FOR INSTRUCTOR USE ONLYH-10
Reporting and Analyzing Investments52.At the time of acquisition of a debt investmentFSA
53.On January 1, 2022, the LaRoche Company purchased at face value, a $1,000, 4%,bond that pays interest on January 1. LaRoche Company has a calendar year end. Theentry for the receipt of interest on January 1, 2023, is
54.On January 1, 2022, the LaRoche Company purchased at face value, a $1,000, 4%,bond that pays interest on January 1. LaRoche Company has a calendar year end. Theadjusting entry on December 31, 2022, is
55.On January 1, 2022, the LaRoche Company purchased at face value, a $1,000, 5%,bond that pays interest on January 1. LaRoche Company has a calendar year end. Theentry for the receipt of interest on January 1, 2023 isa.Cash55Interest Revenue55b.Cash55Interest Receivable55c.Cash50Interest Revenue50d.Cash50Interest Receivable50Ans: D, LO: 1, Bloom: AP, Difficulty: Medium, Min: 2, AACSB: Analytic, AICPA BB: Legal/Regulatory Perspective, AICPA FC: Measurement, AICPA PC:Problem Solving, IMA: FSASolution: $1,000 × .05$50(Face val. × int. rate)

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