Question: MUST INCLUDE EXCEL FORMULAS; Bruce Company purchased $ 2 , 0 0 0 , 0 0 0 of Clarence, Incorporated, 4 . 0 % bonds
MUST INCLUDE EXCEL FORMULAS; Bruce Company purchased $ of Clarence, Incorporated, bonds at par on July with interest paid semiannually. Bruce determined that it should account for the bonds as an availableforsale investment. At December the Clarence bonds had a fair value of $ Bruce sold the Clarence bonds on July of the following year for $ Required: Complete the following table to show the effect of the Clarence bonds on Bruces net income, other comprehensive income, and comprehensive income for each of the two years, and cumulatively over the twoyear period. Navigation: Use the Open Excel in New Tab button to launch this question. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect.
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