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Saved Help Save & Exit Sul Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to quest m QS C-6 Accounting for debt investments classified as held-to-maturity LO P2 3.33 Prepare Garzon Company's journal entries to record the following transactions for the current year. points Jan. 1 Purchases 9% bonds (as a held-to-maturity investment) issued by PBS at a cost of $52,000, which is the par value. July 1 Receives first semiannual payment of interest from PBS bonds. Dec. 31 Receives a check from PBS in payment of principal ($52, 000) and the second semiannual payment of interest. x Answer is not complete. NO Date General Journal Debit Credit Jan. 1 Debt investments - HTM 52,000 Cash 52,000 Jul. 1 Cash 2,340 Interest revenue 2,340 Dec. 31 Cash 52,000 X 52,000 MacBook Prok you have completed so far. It does not indicate completion. Return to quest O QS C-13 Reporting stock investments with insignificant influence LO P4 On May 20, Montero Co. paid $282,000 to acquire 140 shares (5%) of ORD Corp. as a long-term investment. On August 5, Montero 3.33 sold one-tenth of the ORD shares for $29,000. points 1. Prepare entries to record both the acquisition and the sale of these shares. 2. Should this stock investment be reported at fair value or at cost on the balance sheet? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare entries to record both the acquisition and the sale of these shares. No Date General Journal Debit Credit May 20 Stock investments 282,000 Cash 282,000 Aug 05 Cash 29,000 Gain on sale of stock investments 28,200 X Stock investments 800 X Required 1 Required 2 > Graw MacBook Pro 89 DD Yincorrect for the work you have completed so far. It does not indicate completi 12 Fivio Co. reports the following information. Current 1 Year 2 Years Year Ago Ago Total assets, December 31 $800, 000 $282, 000 $502, 000 3.37 Net income 27, 200 40, 600 39 , 156 points Required: 1. Compute return on total assets for the current year and for 1 year ago 2. Is Fivio more efficient or less efficient in using total assets to produce income in the current year versus 1 year ago? x Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute return on total assets for the current year and for 1 year ago Return On Total Assets Choose Choose Return On Total Numerator: Denominator: Assets Return On Total + Net income Average total assets Assets One year ago 27,200 X 541,000 X = 5% Current year 40,600 X 392,000 X = 10% Required 1 Required 2 Graw Hill MacBook Pro