## Answers

**Solution 1 to 3:**

Journal Entries - Fuzzy Monkey Technologies Inc. | ||||

Event | Date | Particulars | Debit (In Million) | Credit (In Million) |

1 | 1-Jan-21 | Investment in Bond Dr | $200.00 | |

To Cash | $178.00 | |||

To Discount on bond investment | $22.00 | |||

(Being investment in bond recorded) | ||||

2 | 30-Jun-21 | Cash Dr ($200 * 10% * 6/12) | $10.00 | |

Discount on bond investment Dr | $0.68 | |||

To Interest revenue ($178*12%*6/12) | $10.68 | |||

(Being revenue recognition for bond interest and discount amortized) | ||||

3 | 31-Dec-21 | Cash Dr ($200 * 10% * 6/12) | $10.00 | |

Discount on bond investment Dr | $0.72 | |||

To Interest revenue ($178.68*12%*6/12) | $10.72 | |||

(Being revenue recognition for bond interest and discount amortized) |

**solution 4a:**

Fuzzy monkey report its investment on 31.12.2021 balance sheet at fair value i.e. $190 million

**Solution 4b:**

Journal Entries - Fuzzy Monkey Technologies Inc. | ||||

Event | Date | Particulars | Debit (In Million) | Credit (In Million) |

1 | 31-Dec-21 | Fair value adjustment Dr ($190 - $178 - $0.68 - $0.72) | $10.60 | |

To Unrealized holding gain or loss - NI | $10.60 | |||

(Being adjusting entry to record investment at fair value) |

**Solution 5:**

Statement of cash flows (Partial)For 2021 | ||

Particulars | Amount (In million) | |

Cash flow from operating activities: | ||

Short term investment | $178.00 | |

Less: Interest received | $20.00 | |

Net cash flow from operating activities | $158.00 | Outflow |

Cash flow from investing activities: | $0.00 |

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