Hello,

I need help with the attached quiz. This is in Accounting field. Please assign a tutor who is very good in Intermediate Financial Reporting or in Accounting in general as I have a very bad experience with Course Hero when asked the tutors a few accounting related questions and none of them were answered correctly. I need a detailed answer like how to get the numbers, a solution, not only a basic answer like the correct answer is a). Thank you in advance

Use the following information to answer questions 1 and 2. On July 1, 20X4, UFO Inc. purchased $300,000 of bonds with a 4% coupon rate that mature on June 30, 15 years later. The bonds provide a 5% yield. Interest is to be received on June 30 and December 31 every year. The bonds had a market value of $275,000 on December 31, 20X4, and $272,000 on December 31, 20X5. UFO is a public company and applies IFRSs. 1. Assuming the bonds will be held to maturity, what is the amount of interest revenue to be recorded for the fiscal year ended December 31, 20X5? a) $12,000 b) $13,484 c) $14,680 d) $15,000 2. Assume instead that UFO's business model is to collect the interest payments from the bonds and to sell the securities before maturity. The entry to record the adjustment for the bonds on December 31, 20X4, would include which of the following? a) A debit to FVOCI investment for $5,680 b) A debit to FVPL investment for $5,680 c) A debit to FVOCI investment for $6,395 d) A debit to FVPL investment for $6,395 3. On January 1, 20X0, Forest Inc. acquired $200,000 of bonds with a 6% coupon rate at a price of $232,702. The bonds mature on December 31, 20X9, with interest payments on June 30 and December 31 every year. The investment provides a 4% yield. Forest purchased the bonds with the desire to profit on the investment, as interest rates were expected to fall. On September 5, 20X0, Forest sold the bonds for $249,278. What is the amount of gain to be reported on the statement of comprehensive income in 20X0 with respect to the sale of the bonds? a) $4,654 b) $6,000 c) $16,576 d) $17,922 Use the following information to answer questions 4 and 5. At December 31, 20X5, YoYo Inc., a Canadian public company, has the following securities in its portfolio of investments: Carrying Amount Fair value Sports Ltd. shares $16,800 $14,300 Orlando Co. shares 7,900 13,500 Glacier Inc. shares 22,600 32,100 During 20X6, YoYo completed the following transactions: February 10, 20X6 Sold Sports shares for $11,700 June 20, 20X6 Sold Glacier shares for $40,200 YoYo acquired Sports shares and Orlando shares for trading purposes, and designated Glacier shares as an FVOCI investment. 4. Ignoring the tax impact, what is the correct adjustment for the investments on December 31, 20X5? a) Net income decreased by $3,100 and OCI increased by $9,500 b) Net income increased by $3,100 and OCI increased by $9,500 c) Net income decreased by $3,100 and OCI decreased by $9,500 d) Net income increased by $3,100 and OCI decreased by $9,500 5. How should YoYo record the sale of Glacier shares on June 30, 20X6? a) Credit unrealized gain on sale of investments for $8,100. b) Credit unrealized gain OCI for $17,600. c) Credit gain on sale of investments for $17,600. d) Credit retained earnings for $17,600