Please do not give solution in image format ? On July 1, 2020, Blue Spruce Aggregates Ltd. purchased 5% bonds having a maturity value of $55,000 for $57,014. The bonds providethe bondholders with a 4% yield. The bonds mature four years later, on July 1, 2024, with interest receivable June 30 and December31 of each year. Blue Spruce uses the effective interest method to allocate unamortized discount or premium. The bonds areaccounted for using the FV-OCI model with recycling. Blue Spruce has a calendar year end. The fair value of the bonds at December31, 2020 and 2021, was $57,017 and $56,205, respectively. Assume fair value adjustments are recorded at year end only.Immediately after collecting interest on December 31, 2021, the bonds were sold for $56,205. Also, assume that the bond is the onlyinvestment held by Blue Spruce Aggregates Ltd. Prepare a partial comparative statement of financial position at December 31, 2020 and 2021, showing only the related accountsfor the bond investment. (Round answers to O decimal places, e.g. 5,275. Enter negative amounts using either a negative sign precedingthe number e.g. -45 or parentheses e.g. (45).)Blue Spruce Aggregates Ltd.Statement of Financial PositionDecember 31V20212020LAtA

Stockholders' equity refers to the worth of a company that is owned by the shareholders. This can be…

Prepare a partial comparative statement of financial position at December 31, 2020 and 2021, showing only the related accounts for the bond investment. (Round answers to O decimal places, e.g. 5,275. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Blue Spruce Aggregates Ltd. Statement of Financial Position December 31 2021 $ GA 2020 $ LA $

Prepare a partial comparative statement of financial position at December 31, 2020 and 2021, showing only the related accounts for the bond investment. (Round answers to O decimal places, e.g. 5,275. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Blue Spruce Aggregates Ltd. Statement of Financial Position December 31 2021 $ GA 2020 $ LA $

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable

Section: Chapter Questions

Problem 16E

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