Question: Can you provide the answer with everything filled out? especially the calculations and part 2 thank you. Jul. 1 This problem continues the Canyon Canoe

Can you provide the answer with everything filled out? especially the calculations and part 2 thank you.
Can you provide the answer with everything filled out? especially the calculations
and part 2 thank you. Jul. 1 This problem continues the Canyon
Canoe Company situation from Chapter 9. Amber and Zack Wilson are pleased

Jul. 1 This problem continues the Canyon Canoe Company situation from Chapter 9. Amber and Zack Wilson are pleased with the growth of their business and have decided to invest its temporary excess cash in a brokerage account. The company had the following securities transactions in 2025. Purchased 8,000 shares in Adobe Outdoor Adventure Company for $3 per share. Canyon Canoe does not have significant influence over Adobe Purchased 35% of the stock of Bison Backpacks consisting of 43,750 shares of stock (out of a total of 125,000 shares) for $5 pet share. Canyon Canoe does have significant influence over Bison Purchased a bond from Camelot Canoes with a face value of 580,000. Canyon Canoe intends to hold the bood te maturity. The bond pays interest semiannually on 10 June 30 and December 31 Sep 30 Nov ! Dec 31 Received dividends of 50.15 per share from Adobe Received dividends of $0.10 per sbare from Bison Received an interest payment of $3,200 from Camelot Canoes Bison Backpacks reported net income of 530,000 for the year Adjusted the Adobe Mock for a market value of $2,9% per share 31 31 Accounts and Explanation Debit Credit Date 2025 Jul. 1 7 10 Sep. 30 I Nov. 1 Dec. 31 Calculations: Cost of investments: Total cost Adobe Bison Number of shares X Price per share X 1111 Cash dividends: Total dividends Adobe Bison Number of shares X Dividend per share X Unrealized holding loss: Unrealized holding loss Adobe Total fair value Total cost || Requirement 2 Effect on Income Investment Adobe Account Dividend Revenue Unrealized Holding Loss-Equity Investment Increase/Decrease Bison Revenue from Investments Increase/Decrease Camelot Interest Revenue Increase/Decrease

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!