Presented below is information taken from a bond investment amortization schedule with related fair values provided. these bonds are classified as available-for-sale. 12/31/20 12/31/21 12/31/22 amortized cost $472200 $543100 $597900 fair value $478400 $532100 $597900 (a) indicate whether the bonds were purchased at a discount or at a premium. (b) prepare the adjusting entry to record the bonds at fair value at december 31, 2020. the fair value adjustment account has a debit balance of $900 prior to adjustment. (c) prepare the adjusting entry to record the bonds at fair value at december 31, 2021.

Suppose that jim plans to borrow money for an education at texas a& m university. jim will need to borrow $25,000 at the end of each year for the next five years (total=$125,000). jim wishes his parents could pay for his education but they can’t. at least, he qualifies for government loans with a reduced interest rate while he is in school. he has a special arrangement with aggiebank to lend him the money at a subsidized rate of 1% over five years without having to make a payment until the end of the fifth year. however, at the end of the fifth year, jim agrees to pay off the loan by borrowing from longhorn bank. longhorn bank will lend him the money he needs at an annual interest rate of 6%. jim agrees to pay back the longhorn bank with 20 annual payments and the payments will be uniform (equal annual payments including principal and interest). (i) calculate how much money jim has to borrow at the end of 5 years to pay off the loan with aggiebank. a. $121,336 b. $127,525 c. $125,000 d. $102,020 e. none of the above

Zapper has beginning equity of $257,000, net income of $51,000, dividends of $40,000 and investments by stockholders of $6,000. its ending equity is

Winston churchill's stamp collection was valued at $14 million when he died. at auction, it brought in only $4 million. what was it worth? why?