FF&T Corporation is a confectionery wholesaler that frequently buys and

FF&T is a confectionery wholesaler that frequently buys and sells securities to meet various investment objectives. The following selected transactions relate to FF&T’s investment activities during the last two months of 2021. At November 1, FF&T held $48 million of 20-year, 10% bonds of Convenience, Inc., purchased May 1, 2021, at face value. Management has the positive intent and ability to hold the bonds until maturity.
FF&T’s fiscal year ends on December 31.

Nov. 1 Received semiannual interest of $2.4 million from the Convenience, Inc., bonds.
Dec. 1 Purchased 12% bonds of Facsimile Enterprises at their $30 million face value, to be held until they mature in 2024. Semiannual interest is payable May 31 and November 30.
31 Purchased U.S. Treasury bills to be held until they mature in two months for $8.9 million.
31 Recorded any necessary adjusting entry(s) relating to the investments.The fair values of the investments at December 31 were:
Convenience bonds …………………………$44.7 million
Facsimile Enterprises bonds ………………30.9 million
U.S. Treasury bills ………………………………..8.9 million

Required:
Prepare the appropriate journal entry for each transaction or event.

How Our Website Works

1. FILL IN OUR SIMPLE ORDER FORM

It has never been easier to place your order. Fill in the initial requirements in the small order form located on the home page and press “continue” button to proceed to the main order form or press “order” button in the header menu. Starting from there let our system intuitively guide you through all steps of ordering process.

2. PROCEED WITH THE PAYMENT

All your payments are processed securely through PayPal. This enables us to guarantee a 100% security of your funds and process payments swiftly.

3. WRITER ASSIGNMENT

Next, we match up your order details with the most qualified freelance writer in your field.

4. WRITING PROCESS

Once we have found the most suitable writer for your assignment, they start working on a masterpiece just for you!

5. DELIVERY

Once finished, your final paper will be available for download through your personal dashboard. You will also receive an email notification with a copy of your paper attached to it. Sometimes, the writer may leave a note for you about the order in case there is any additional information that they need to give you.

Leave a Reply

Your email address will not be published.