I need help with 4-b

Home | C x nect-Chp 12 Assignment 6 Help Save & Exit Submit Fuzzy Monkey Technologies, Inc., purchased as a long-term investment $ 150 million of 6% bonds, dated January 1, on January 1, 2018. intends to have the investment available for sale when circumstances warrant. For bonds of similar risk and maturity the market yield was 8% The price paid for the bonds was $133 million. Interest is received semiannually on June 30 and December 3 Due to changing market conditions, the fair value of the bonds at December 31, 2018, was $140 million. Required: 1. to 3. Prepare the relevant journal entries on the respective dates (record the interest at the effective rate. 4-a. At what amount will Fuzzy Monkey report its investment in the December 31, 2018, balance sheet? 4-b. Prepare the entry necessary to achieve this reporting objective 5. How would Fuzzy Monkey's 2018 statement of cash flows be affected by this investment? Complete this question by entering your answers in the tabs below Req 1 to 3 Req 4A required" in the first account field. Do not round intermediate calculations. Enter your answers in millions rounded to 2 decimal places Req 4B y to achieve this reporting objective. (If no entry is required for a select "No journal entry (i.e., 5,500,000 should be entered as 5.50).) C Prev 1 of 1 Next Show a and 9e CH LUC Cert org pdf 4/16/2019