could you kindly provide me the solutions to p17 3 intermediate accounting 13th edit 460039

Could you kindly provide me the solutions to P17-3 intermediate Accounting 13th Edition.

P17-3 Cardinal PazCorp carries an account in its general ledger called investments which contained debits for investments purchases and no credits with the following descriptions :

Feb 1,2010 Sharapova Company common stock, $100 par 200 shares ——>$37,000

April 1st US government bonds 11 % due April 1,2010 interest payable April 1 and October 1, 110 bonds of $1,000 par each——————–>110,000

July 1st, Mcgrath company,12% bonds, par $50,000 dated March 1,2010 purchased at 104 plus accrued interest, interest payable annually on March 1st due March 2030.

Questions:

(a) Prepare entries necessary to classify the amounts into proper accounts, assuming that all the securities are classified as available for sale.

(b) Prepare the entry to record the accrued interests and amortization of premium on December 31,2010 using the straight line method

(c) The fair values of the securities on Dec 31 2010 were : Sharapova Company common Stock—> $ 31,800, US Governement bonds —> $124700, McGrath Company Bonds—> $ 58600 What entry or entries would recommend to be made?

(d) The US governement bonds were sold on July 1st 2011 fo $119,200 plus accrued interests. Give the proper entry