What is the total interest income to be recognized on the investment in bonds in 2023? What is the amount of adjustment to the Unrealized Gain or Loss – OCI account to update the fair value of the investment on December 31, 2023? (Indicate if debit or credit) Prepare the journal entry to record the receipt of interest on March 1, 2024. What is the carrying value of the investment in bonds on December 31, 2024? Bonds with face value of P2,000,000 were sold at fair value on December 31, 2025. After updating the related investment's fair value, what is the balance of Unrealized Gain or Loss – OCI to be "recycled" to the income statement in 2025? (Indicate if debit or credit)
What is the total interest income to be recognized on the investment in bonds in 2023? What is the amount of adjustment to the Unrealized Gain or Loss – OCI account to update the fair value of the investment on December 31, 2023? (Indicate if debit or credit) Prepare the journal entry to record the receipt of interest on March 1, 2024. What is the carrying value of the investment in bonds on December 31, 2024? Bonds with face value of P2,000,000 were sold at fair value on December 31, 2025. After updating the related investment's fair value, what is the balance of Unrealized Gain or Loss – OCI to be "recycled" to the income statement in 2025? (Indicate if debit or credit)
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter15: Investments And Fair Value Accounting
Section: Chapter Questions
Problem 5E
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