Question: PLEASE DO NOT JUST PUT ANYTHING DOWN. ASK A QUESTION IN THE COMMENTS IF YOU HAVE A QUESTION!!! E16.2 (LO 1), AP Jenek Corporation had

PLEASE DO NOT JUST PUT ANYTHING DOWN. ASK A QUESTION IN THE COMMENTS IF YOU HAVE A QUESTION!!!

E16.2 (LO 1), AP Jenek Corporation had the following transactions pertaining to debt investments.

1) Purchased 40 Leeds Co. 9% bonds (each with a face value of $1,000) for $40,000 cash on January 1, 2022. Interest is payable annually on January 1.

2) Accrued interest on Leeds Co. bonds on December 31, 2022.

3) Received interest on Leeds Co. bonds on January 1, 2023.

4) Sold 30 Leeds Co. bonds for $33,000 on January 1, 2023.

Instructions

Journalize the transactions.

Journalize debt investment transactions, accrue interest, and record sale.

E16.5 (LO 2), AP Nosker Inc. had the following transactions pertaining to investments in common stock.

Jan. 1 Purchased 2,500 shares of Escalante Corporation common stock (5%) for $152,000 cash.

July 1 Received a cash dividend of $3 per share.

Dec. 1 Sold 500 shares of Escalante Corporation common stock for $32,000 cash.

Dec. 31 Received a cash dividend of $3 per share.

Instructions

Journalize the transactions.

Journalize transactions for investments in stocks.

E16.11 (LO 3), AP At December 31, 2022, available-for-sale debt securities for Storrer, Inc. are as follows. The securities are considered to be a long-term investment.

Security	Cost	Fair Value
A	$17,500	$16,000
B	$12,500	$14,000
C	$23,000	$21,000
Total	$53,000	$51,000

Instructions

1) Prepare the adjusting entry on December 31, 2022, to report the securities at fair value.

2) Show the statement presentation on December 31, 2022, after adjustment to fair value.

3) E. Kretsinger, a member of the board of directors, does not understand the reporting of the unrealized gains or losses. Write a letter to Ms. Kretsinger explains the reporting and the purposes that it serves.

Prepare adjusting entries for fair value, and indicate statement presentation for two classes of securities.

Can someone please assist me with exercises E16.2, E16.5, and E16.11.

PLEASE DO NOT JUST PUT ANYTHING DOWN. ASK A QUESTION IN THE COMMENTS IF YOU HAVE A QUESTION!!!

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