Use the Following Information for Questions

question 49

Short Answer

Use the following information for questions
On January 1, 2021, Marianne Corp.purchased $50,000, of Robin Ltd.'s 4%, 10-year bonds for $48,000, since the market interest rate was approximately 4.5%.The bonds pay interest on January 1 and July 1.Marianne has a calendar year end, and classified the bonds as long-term investments.The fair value on December 31, 2021 was $48,500.Marianne sold the bonds on January 2, 2022 for $48,500.
-The entry to adjust to fair value on December 31, 2021 is

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Definitions:

Attention Related Tasks

Activities or exercises that require an individual to focus mental effort on specific stimuli or processes, often studied to understand cognitive functions.

Practical Problem Solving

The process of finding solutions to difficult or complex issues with a focus on real-world applications and practical outcomes.

Middle Adulthood

A stage of life typically occurring from ages 40 to 65, characterized by increased self-awareness, stability, and concern for the next generation.

Memory Decline

The gradual reduction in the ability to recall or retain information, a process that can be associated with aging or other cognitive disorders.