Business, 22.07.2019 18:30 Gearyjames8

Fuzzy monkey technologies, inc., purchased as a long-term investment $80 million of 6% bonds, dated january 1, on january 1, 2018. management has the positive intent and ability to hold the bonds until maturity. for bonds of similar risk and maturity the market yield was 8%. the price paid for the bonds was $64 million. interest is received semiannually on june 30 and december 31. due to changing market conditions, the fair value of the bonds at december 31, 2018, was $70 million. required: 1. record fuzzy monkey’s investment on bonds on january 1, 2018.2. record the interest revenue on june 30, 2018.3. record the interest revenue on december 31, 2018.4. at what amount will fuzzy monkey report its investment in the december 31, 2018, balance sheet? 5. how would fuzzy monkey's 2018 statement of cash flows be affected by this investment?

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Fuzzy monkey technologies, inc., purchased as a long-term investment $80 million of 6% bonds, dated...

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