On January 1, Year 1, Peanut Limited has invested in equity and debt securities and recorded...

 

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On January 1, Year 1, Peanut Limited has invested in equity and debt securities and recorded as "investment". Its investment portfolio for the year ended December 31, Year 1 is in the following table. Type of security Classification Cost Market value as of Dec 31, Year 1 Almond Equity Trading $12,000 $16,000 Item(s) ? Pecan Equity AFS $24,000 $22,000 All securities were obtained at par value. Debt security of Walnut pays coupon annually at the rate of 5%. During year 1, Peanut has received dividend from Almont and Pecan at the amount of $1,500 and $900, respectively. Amount ? 10.Determine investment account shown in Peanut's balance sheet as of December 31, Year 1. 11.Determine related item(s) in Peanut's income statement for the year ended December 31, Year 1. Walnut Debt HTM $36,000 $40,000 Explain/show your work ? On January 1, Year 1, Peanut Limited has invested in equity and debt securities and recorded as "investment". Its investment portfolio for the year ended December 31, Year 1 is in the following table. Type of security Classification Cost Market value as of Dec 31, Year 1 Almond Equity Trading $12,000 $16,000 Item(s) ? Pecan Equity AFS $24,000 $22,000 All securities were obtained at par value. Debt security of Walnut pays coupon annually at the rate of 5%. During year 1, Peanut has received dividend from Almont and Pecan at the amount of $1,500 and $900, respectively. Amount ? 10.Determine investment account shown in Peanut's balance sheet as of December 31, Year 1. 11.Determine related item(s) in Peanut's income statement for the year ended December 31, Year 1. Walnut Debt HTM $36,000 $40,000 Explain/show your work ?

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Step 11 We need to find the following 10 Determine inv... View the full answer