ow to find the values for year 2Y15. the only value i knew how to calculate was the available for sale investments at f

Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
ChapterD: Investments
Section: Chapter Questions
Problem D.13EX
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I can't figure out how to find the values for year 2Y15. the only value i knew how to calculate was the available for sale investments at fair value but not at cost. 

Chapter 15 HW Assignments
Equity and Available-for-Sale Investments
O'Brien Industries Inc. is a book publisher.
The available-for-sale investments at cost and fair value on December 31, 20Y4, are as follows:
Issuing Company
Cost
Fair Value
Bernard Co.
$26,000 $23,700
Chadwick Co.
24,200
$51,900
006
The investment in Jolly Roger Co. stock represents 30% of the outstanding shares of Jolly Roger Co.
The following selected transactions occurred during 20Y5:
Jan. 2.
Purchased $54,000 of Gozar Inc. 5%, 10-year bonds at 100. The bonds are
classified as an available-for-sale investment. The bonds pay interest on June 30
く
and December 31.
June 30. Received interest for 6 months on the Gozar Inc. bonds purchased on January 2.
Oct.
1.
Purchased $30,000 of Nightline Co. 5%, 10-year bonds at 100. The bonds are
classified as an available-for-sale investment. The bonds pay interest on October
1 and April 1.
9.
Dividends of $8,600 are received on the Jolly Roger Co. investment.
Dec. 31. Jolly Roger Co. reported a total net income of $74,000 for 20Y5, which O'Brien
Industries Inc. recorded using the equity method.
31.
Received interest for 6 months on the Gozar Inc. bonds purchased on January 2.
31.
Accrued 3 months of interest on the Nightline bonds.
31.
Adjusted the available-for-sale investment portfolio to fair value, using the
following fair values:
Issuing Company
Fair Value
Bernard Co.
$23,400
Chadwick Co.
22,400
Gozar Inc.
000'LS
Nightline Co.
29,400
For the year ending December 31, 20Y5, O'Brien Industries Inc. reported net income of $148,200 and paid no dividends.
Required:
The comparative unclassified balance sheets for December 31, 20Y4 and 20Y5 are provided below. Selected balances are
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Transcribed Image Text:Chapter 15 HW Assignments Equity and Available-for-Sale Investments O'Brien Industries Inc. is a book publisher. The available-for-sale investments at cost and fair value on December 31, 20Y4, are as follows: Issuing Company Cost Fair Value Bernard Co. $26,000 $23,700 Chadwick Co. 24,200 $51,900 006 The investment in Jolly Roger Co. stock represents 30% of the outstanding shares of Jolly Roger Co. The following selected transactions occurred during 20Y5: Jan. 2. Purchased $54,000 of Gozar Inc. 5%, 10-year bonds at 100. The bonds are classified as an available-for-sale investment. The bonds pay interest on June 30 く and December 31. June 30. Received interest for 6 months on the Gozar Inc. bonds purchased on January 2. Oct. 1. Purchased $30,000 of Nightline Co. 5%, 10-year bonds at 100. The bonds are classified as an available-for-sale investment. The bonds pay interest on October 1 and April 1. 9. Dividends of $8,600 are received on the Jolly Roger Co. investment. Dec. 31. Jolly Roger Co. reported a total net income of $74,000 for 20Y5, which O'Brien Industries Inc. recorded using the equity method. 31. Received interest for 6 months on the Gozar Inc. bonds purchased on January 2. 31. Accrued 3 months of interest on the Nightline bonds. 31. Adjusted the available-for-sale investment portfolio to fair value, using the following fair values: Issuing Company Fair Value Bernard Co. $23,400 Chadwick Co. 22,400 Gozar Inc. 000'LS Nightline Co. 29,400 For the year ending December 31, 20Y5, O'Brien Industries Inc. reported net income of $148,200 and paid no dividends. Required: The comparative unclassified balance sheets for December 31, 20Y4 and 20Y5 are provided below. Selected balances are Check My Work 1 more Check My Work uses remaining. ( Previous Assignment Score: 38.06% All work saved. Save and Exit Submit Assignment for Gra
%24
%24
%24
Chapter 15 HW Assignments
31.
Received Interest for 6 months on the Gozar Inc. bonds purchased on January 2.
31.
Accrued 3 months of interest on the Nightline bonds.
31.
Adjusted the available-for-sale investment portfolio to fair value, using the
following fair values:
Issuing Company
Fair Value
Bernard Co.
$23,400
Chadwick Co.
22,400
Gozar Inc.
000'LS
Nightline Co.
29,400
For the year ending December 31, 20Y5, OʻBrien Industries Inc. reported net income of $148,200 and paid no dividends.
Required:
The comparative unclassified balance sheets for December 31, 20Y4 and 20Y5 are provided below. Selected balances are
missing. Determine the missing amounts. Use minus sign to indicate the negative amounts. Do not round interim
calculations. Round final answers to nearest dollar.
O'Brien Industries Inc.
B'artial Balance Sheets
December 31
20Y5
20Y4
Available-for-Sale Investments (at Cost)
$103,800 X
006'
Valuation Allowance for Available-for-Sale Investments
X 00
(000)
Available-for-Sale Investments (Fair Value)
$ 132,200 V
006
Interest Receivable
Investment in Jolly Roger Co. Stock
$50,200
Office Equipment (Net)
83,400
87,800
Total Assets
$418,200
Accounts Payable
$53,400
$48,100
0000
146,400
Common Stock
000'6
Excess of Issue Price Over Par
146,400
Retained Earnings
181,700
Unrealized Gain (Loss) on Available-for-Sale Investments
(o00't)
Total Liabilities and Stockholders' Equity
$418,200
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Transcribed Image Text:%24 %24 %24 Chapter 15 HW Assignments 31. Received Interest for 6 months on the Gozar Inc. bonds purchased on January 2. 31. Accrued 3 months of interest on the Nightline bonds. 31. Adjusted the available-for-sale investment portfolio to fair value, using the following fair values: Issuing Company Fair Value Bernard Co. $23,400 Chadwick Co. 22,400 Gozar Inc. 000'LS Nightline Co. 29,400 For the year ending December 31, 20Y5, OʻBrien Industries Inc. reported net income of $148,200 and paid no dividends. Required: The comparative unclassified balance sheets for December 31, 20Y4 and 20Y5 are provided below. Selected balances are missing. Determine the missing amounts. Use minus sign to indicate the negative amounts. Do not round interim calculations. Round final answers to nearest dollar. O'Brien Industries Inc. B'artial Balance Sheets December 31 20Y5 20Y4 Available-for-Sale Investments (at Cost) $103,800 X 006' Valuation Allowance for Available-for-Sale Investments X 00 (000) Available-for-Sale Investments (Fair Value) $ 132,200 V 006 Interest Receivable Investment in Jolly Roger Co. Stock $50,200 Office Equipment (Net) 83,400 87,800 Total Assets $418,200 Accounts Payable $53,400 $48,100 0000 146,400 Common Stock 000'6 Excess of Issue Price Over Par 146,400 Retained Earnings 181,700 Unrealized Gain (Loss) on Available-for-Sale Investments (o00't) Total Liabilities and Stockholders' Equity $418,200 Check My Work 1 more Check My Work uses remaining. ( Previo Assignment Score: 38.06% All work saved. Submit Assignment for Save and Exit
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A balance sheet refers to the financial document which reflects the position of a company in terms of its assets and liabilities.

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