securities to be held as non-strategic investments: 2020 Feb. 7 Purchased 4,200 common shares of Royal Bank
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securities to be held as non-strategic investments:
2020 | |||
Feb. | 7 | Purchased 4,200 common shares of Royal Bank at $28.50, plus $500 in transaction fees. | |
19 | Purchased 3,200 common shares of Imperial Oil at $56.75, and paid $250 in transaction fees. | ||
Apr. | 1 | Paid $108,030 plus $500 in transaction fees for a 8.40%, four-year, $110,000 Minco Inc. bond that pays interest quarterly beginning June 30. The market rate of interest on this date was 8.80%. Sellers Corporation plans to hold this investment for the duration of the bond?s contract life. | |
May | 26 | Purchased 4,000 common shares of BCE at $15.38, plus $200 in transaction fees. | |
June | 1 | Received a $0.25 per share cash dividend on the Royal Bank common shares. | |
17 | Sold 3,200 Royal Bank common shares at $29.00. | ||
30 | Received interest on the Minco Inc. bond. | ||
Aug. | 5 | Received a $0.50 per share cash dividend on the Imperial Oil common shares. | |
Sept. | 1 | Received a $0.275 per share cash dividend on the remaining Royal Bank common shares. | |
30 | Received interest on the Minco Inc. bond. | ||
Dec. | 31 | Received interest on the Minco Inc. bond. |
On December 31, 2020, the fair values of the investments held by Safety Development Corporation were: Royal Bank, $29.50; Imperial Oil, $55.13; and BCE, $15.50. Assume the fair value and carrying value of the Minco Inc. bond were equal.Required:1.?Prepare an amortization schedule for the Minco Inc. bond showing only 2020.?(Round your intermediate and final answers to the nearest whole dollar amount. Enter all the amounts as positive values.)
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Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1260305838
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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