Fuzzy monkey technologies, inc., purchased as a short-term investment $160 million of 8% bonds, dated january 1, on january 1, 2013. management intends to include the investment in a short-term, active trading portfolio. for bonds of similar risk and maturity the market yield was 10%. the price paid for the bonds was $142 million. interest is received semiannually on june 30 and december 31. due to changing market conditions, the fair value of the bonds at december 31, 2013, was $150 million. required: 1. prepare the journal entry to record fuzzy monkey's investment on january 1, 2013.a. record the fuzzy monkey's investment on bonds on january 1, 2013.2. prepare the journal entry by fuzzy monkey to record interest on june 30, 2013 (at the effective rate).a. record the interest revenue on june 30, 2013.3. prepare the journal entry by fuzzy monkey to record interest on december 31, 2013a. record interest revenue4. at what amount will fuzzy monkey report its investment in the december 31, 2013, balance sheet? 5. prepare an entry necessary to achieve the reporting objective. a. fair value adjustment6. how would fuzzy monkey's 2013 statement of cash flows be affected by this investment? a. operating cfb. investing cf

Georgia orchards produced a good crop of peaches this year. after preparing the following income statement, the company is concerned about the net loss on its no. 3 peaches. georgia orchards income statement for year ended december 31, 2017 no. 1 no. 2 no. 3 combined sales (by grade) no. 1: 300,000 ibs. @ $1.50/lb $ 450,000 no. 2: 300,000 ibs. @ $1.00/lb $ 300,000 no. 3: 750,000 ibs. @ $0.25/lb $ 187,500 total sales $ 937,500 costs tree pruning and care @ $0.30/ib 90,000 90,000 225,000 405,000 picking, sorting, and grading @ $0.15/ib 45,000 45,000 112,500 202,500 delivery costs 15,000 15,000 37,500 67,500 total costs 150,000 150,000 375,000 675,000 net income (loss) $ 300,000 $ 150,000 $ (187,500 ) $ 262,500 in preparing this statement, the company allocated joint costs among the grades on a physical basis as an equal amount per pound. the company’s delivery cost records show that $30,000 of the $67,500 relates to crating the no. 1 and no. 2 peaches and hauling them to the buyer. the remaining $37,500 of delivery costs is for crating the no. 3 peaches and hauling them to the cannery. required: 1. prepare reports showing cost allocations on a sales value basis to the three grades of peaches. separate the delivery costs into the amounts directly identifiable with each grade. then allocate any shared delivery costs on the basis of the relative sales value of each grade. (do not round intermediate calculations.)