经济学IntermediateAccounting实用精品资料(00001).docx

Exercise12-1
Requirement1($inmillions)
Investmentinbonds(faceamount)240.0 Discountonbondinvestment(difference)40.0 Cash(priceofbonds)200.0
Requirement2
Cash(3%x$240million)7.2Discountonbondinvestment(difference) .8 Interestrevenue(4%x$200)8.0
Requirement3
Tanner-UNFreportsitsinvestmentintheDecember31,2011,balancesheetatitsamortizedcost–thatis,itsbookvalue:
Investmentinbonds $240.0
Less:Discountonbondinvestment($40–.8million) 39.2
Amortizedcost $200.8
Ifsalebeforematurityisn’tanalternative,increasesanddecreasesinthemarketvaluebetweenthetimeadebtsecurityisacquiredandthedayitmaturestoaprearrangedmaturityvaluearerelativelyunimportant.Forthisreason,ifaninvestorhasthe“positiveintentandability”toholdthesecuritiestomaturity,investmentsindebtsecuritiesareclassifiedas“held-to-maturity”andreportedatamortizedcostratherthanfairvalueinthebalancesheet.
Requirement4($inmillions)
Cash(proceedsfromsale) 190.0
Discountonbondinvestment(balance,determinedabove) 39.2
Lossonsaleofinvestments(tobalance) 10.8
Investmentinbonds(faceamount) 240.0
Exercise12-2
November1
($inmillions)
Cash 2.4 Investmentrevenue 2.4
December1
InvestmentinFacsimileEnterprisesbonds 30 Cash 30
December31
InvestmentinU.S.Treasurybills 8.9 Cash 8.9
December31
Investmentrevenuereceivable–Conveniencebonds($48millionx10%x2/12) 0.8Investmentrevenuereceivable–FacsimileEnterprisesbonds($30millionx12%x1/12) 0.3 Investmentrevenue 1.1
Note:Securitiesheld-to-maturityarenotadjustedtofairvalue.
Exercise12-3
InvestmentinGMcommonshares 41,200 Cash([800sharesx$50]+$1,200) 41,200
Cash([800sharesx$53]–$1,300) 41,100Lossonsaleofinvestments 100 InvestmentinGMcommonshares 41,200
Exercise12-4
Requirement1
2011
December17
InvestmentinGrocers’Supplypreferredshares 350,000 Cash 350,000
December28
Cash 2,000 Investmentrevenue 2,000
December31
Fairvalueadjustment 50,000 Netunrealizedholdinggainsandlosses—I/S
([$4x100,000shares]–$350,000) 50,000
2012
January5
Cash(sellingprice) 395,000
Gainoninvestm