Atlanta Inc. Investment In Falcons Corporation Discussion

February 15, 2022

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Atlanta Inc. investment in Falcons Corporation Discussion

Question Description

Atlanta Inc. holds an AFS bond investment in Falcons Corporation. The amortized cost of the investment is $351,250 on December 31, 2020. Atlanta Inc. estimates the fair value of the bonds to be $325,000. The unrealized loss of $26,250 is partially due to a credit loss of $20,000, with the remaining portion due to other factors. The company adjusted the AFS bonds to fair value through OCI on December 31, 2020.

Record the impairment loss on December 31, 2020, assuming that the company does not intend to sell the investment and does not believe it is more likely than not that it will be required to sell the investment before recovery of any unrealized loss.

Record the impairment loss on December 31, 2020, now assuming that the company intends to sell the investment.

Note: List multiple debits or credits (when applicable) in alphabetical order.

Date Account Name Dr. Cr.

a. Dec. 31, 2020 AnswerCashInterest ReceivableInvestment in TSFair Value Adjustment–TSInvestment in AFS SecuritiesFair Value Adjustment–AFSInvestment in HTM SecuritiesInvestment in StockFair Value Adjustment–Equity SecuritiesFair Value Adjustment–Fair Value OptionAllowance for Credit LossesAccumulated Other Comprehensive IncomeUnrealized Gain or Loss–OCIUnrealized Gain or Loss–IncomeDividend RevenueInterest RevenueInvestment IncomeLoss on ImpairmentRecovery of Loss on ImpairmentLoss on Sale of InvestmentGain on Sale of InvestmentN/A Answer Answer

AnswerCashInterest ReceivableInvestment in TSFair Value Adjustment–TSInvestment in AFS SecuritiesFair Value Adjustment–AFSInvestment in HTM SecuritiesInvestment in StockFair Value Adjustment–Equity SecuritiesFair Value Adjustment–Fair Value OptionAllowance for Credit LossesAccumulated Other Comprehensive IncomeUnrealized Gain or Loss–OCIUnrealized Gain or Loss–IncomeDividend RevenueInterest RevenueInvestment IncomeLoss on ImpairmentRecovery of Loss on ImpairmentLoss on Sale of InvestmentGain on Sale of InvestmentN/A Answer Answer

AnswerCashInterest ReceivableInvestment in TSFair Value Adjustment–TSInvestment in AFS SecuritiesFair Value Adjustment–AFSInvestment in HTM SecuritiesInvestment in StockFair Value Adjustment–Equity SecuritiesFair Value Adjustment–Fair Value OptionAllowance for Credit LossesAccumulated Other Comprehensive IncomeUnrealized Gain or Loss–OCIUnrealized Gain or Loss–IncomeDividend RevenueInterest RevenueInvestment IncomeLoss on ImpairmentRecovery of Loss on ImpairmentLoss on Sale of InvestmentGain on Sale of InvestmentN/A Answer Answer

AnswerCashInterest ReceivableInvestment in TSFair Value Adjustment–TSInvestment in AFS SecuritiesFair Value Adjustment–AFSInvestment in HTM SecuritiesInvestment in StockFair Value Adjustment–Equity SecuritiesFair Value Adjustment–Fair Value OptionAllowance for Credit LossesAccumulated Other Comprehensive IncomeUnrealized Gain or Loss–OCIUnrealized Gain or Loss–IncomeDividend RevenueInterest RevenueInvestment IncomeLoss on ImpairmentRecovery of Loss on ImpairmentLoss on Sale of InvestmentGain on Sale of InvestmentN/A Answer Answer

b. Dec. 31, 2020 AnswerCashInterest ReceivableInvestment in TSFair Value Adjustment–TSInvestment in AFS SecuritiesFair Value Adjustment–AFSInvestment in HTM SecuritiesInvestment in StockFair Value Adjustment–Equity SecuritiesFair Value Adjustment–Fair Value OptionAllowance for Credit LossesAccumulated Other Comprehensive IncomeUnrealized Gain or Loss–OCIUnrealized Gain or Loss–IncomeDividend RevenueInterest RevenueInvestment IncomeLoss on ImpairmentRecovery of Loss on ImpairmentLoss on Sale of InvestmentGain on Sale of InvestmentN/A Answer Answer

AnswerCashInterest ReceivableInvestment in TSFair Value Adjustment–TSInvestment in AFS SecuritiesFair Value Adjustment-AFSInvestment in HTM SecuritiesInvestment in StockFair Value Adjustment–Equity SecuritiesFair Value Adjustment–Fair Value OptionAllowance for Credit LossesAccumulated Other Comprehensive IncomeUnrealized Gain or Loss–OCIUnrealized Gain or Loss–IncomeDividend RevenueInterest RevenueInvestment IncomeLoss on ImpairmentRecovery of Loss on ImpairmentLoss on Sale of InvestmentGain on Sale of InvestmentN/A Answer Answer

AnswerCashInterest ReceivableInvestment in TSFair Value Adjustment–TSInvestment in AFS SecuritiesFair Value Adjustment–AFSInvestment in HTM SecuritiesInvestment in StockFair Value Adjustment–Equity SecuritiesFair Value Adjustment–Fair Value OptionAllowance for Credit LossesAccumulated Other Comprehensive IncomeUnrealized Gain or Loss–OCIUnrealized Gain or Loss–IncomeDividend RevenueInterest RevenueInvestment IncomeLoss on ImpairmentRecovery of Loss on ImpairmentLoss on Sale of InvestmentGain on Sale of InvestmentN/A Answer Answer

AnswerCashInterest ReceivableInvestment in TSFair Value Adjustment–TSInvestment in AFS SecuritiesFair Value Adjustment–AFSInvestment in HTM SecuritiesInvestment in StockFair Value Adjustment–Equity SecuritiesFair Value Adjustment–Fair Value OptionAllowance for Credit LossesAccumulated Other Comprehensive IncomeUnrealized Gain or Loss–OCIUnrealized Gain or Loss–IncomeDividend RevenueInterest RevenueInvestment IncomeLoss on ImpairmentRecovery of Loss on ImpairmentLoss on Sale of InvestmentGain on Sale of InvestmentN/A Answer Answer

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Excellent Quality

95-100%

Introduction

45-41 points

The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support

91-84 points

The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology

58-53 points

Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.

Average Score

50-85%
40-38 points

More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points

Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points

Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.

Poor Quality

0-45%
37-1 points

The background and/or significance are missing. No search history information is provided.
75-1 points

Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points

There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met

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	Date	Account Name	Dr.	Cr.
a.	Dec. 31, 2020	AnswerCashInterest ReceivableInvestment in TSFair Value Adjustment–TSInvestment in AFS SecuritiesFair Value Adjustment–AFSInvestment in HTM SecuritiesInvestment in StockFair Value Adjustment–Equity SecuritiesFair Value Adjustment–Fair Value OptionAllowance for Credit LossesAccumulated Other Comprehensive IncomeUnrealized Gain or Loss–OCIUnrealized Gain or Loss–IncomeDividend RevenueInterest RevenueInvestment IncomeLoss on ImpairmentRecovery of Loss on ImpairmentLoss on Sale of InvestmentGain on Sale of InvestmentN/A	Answer	Answer
		AnswerCashInterest ReceivableInvestment in TSFair Value Adjustment–TSInvestment in AFS SecuritiesFair Value Adjustment–AFSInvestment in HTM SecuritiesInvestment in StockFair Value Adjustment–Equity SecuritiesFair Value Adjustment–Fair Value OptionAllowance for Credit LossesAccumulated Other Comprehensive IncomeUnrealized Gain or Loss–OCIUnrealized Gain or Loss–IncomeDividend RevenueInterest RevenueInvestment IncomeLoss on ImpairmentRecovery of Loss on ImpairmentLoss on Sale of InvestmentGain on Sale of InvestmentN/A	Answer	Answer
		AnswerCashInterest ReceivableInvestment in TSFair Value Adjustment–TSInvestment in AFS SecuritiesFair Value Adjustment–AFSInvestment in HTM SecuritiesInvestment in StockFair Value Adjustment–Equity SecuritiesFair Value Adjustment–Fair Value OptionAllowance for Credit LossesAccumulated Other Comprehensive IncomeUnrealized Gain or Loss–OCIUnrealized Gain or Loss–IncomeDividend RevenueInterest RevenueInvestment IncomeLoss on ImpairmentRecovery of Loss on ImpairmentLoss on Sale of InvestmentGain on Sale of InvestmentN/A	Answer	Answer
		AnswerCashInterest ReceivableInvestment in TSFair Value Adjustment–TSInvestment in AFS SecuritiesFair Value Adjustment–AFSInvestment in HTM SecuritiesInvestment in StockFair Value Adjustment–Equity SecuritiesFair Value Adjustment–Fair Value OptionAllowance for Credit LossesAccumulated Other Comprehensive IncomeUnrealized Gain or Loss–OCIUnrealized Gain or Loss–IncomeDividend RevenueInterest RevenueInvestment IncomeLoss on ImpairmentRecovery of Loss on ImpairmentLoss on Sale of InvestmentGain on Sale of InvestmentN/A	Answer	Answer
b.	Dec. 31, 2020	AnswerCashInterest ReceivableInvestment in TSFair Value Adjustment–TSInvestment in AFS SecuritiesFair Value Adjustment–AFSInvestment in HTM SecuritiesInvestment in StockFair Value Adjustment–Equity SecuritiesFair Value Adjustment–Fair Value OptionAllowance for Credit LossesAccumulated Other Comprehensive IncomeUnrealized Gain or Loss–OCIUnrealized Gain or Loss–IncomeDividend RevenueInterest RevenueInvestment IncomeLoss on ImpairmentRecovery of Loss on ImpairmentLoss on Sale of InvestmentGain on Sale of InvestmentN/A	Answer	Answer
		AnswerCashInterest ReceivableInvestment in TSFair Value Adjustment–TSInvestment in AFS SecuritiesFair Value Adjustment-AFSInvestment in HTM SecuritiesInvestment in StockFair Value Adjustment–Equity SecuritiesFair Value Adjustment–Fair Value OptionAllowance for Credit LossesAccumulated Other Comprehensive IncomeUnrealized Gain or Loss–OCIUnrealized Gain or Loss–IncomeDividend RevenueInterest RevenueInvestment IncomeLoss on ImpairmentRecovery of Loss on ImpairmentLoss on Sale of InvestmentGain on Sale of InvestmentN/A	Answer	Answer
		AnswerCashInterest ReceivableInvestment in TSFair Value Adjustment–TSInvestment in AFS SecuritiesFair Value Adjustment–AFSInvestment in HTM SecuritiesInvestment in StockFair Value Adjustment–Equity SecuritiesFair Value Adjustment–Fair Value OptionAllowance for Credit LossesAccumulated Other Comprehensive IncomeUnrealized Gain or Loss–OCIUnrealized Gain or Loss–IncomeDividend RevenueInterest RevenueInvestment IncomeLoss on ImpairmentRecovery of Loss on ImpairmentLoss on Sale of InvestmentGain on Sale of InvestmentN/A	Answer	Answer
		AnswerCashInterest ReceivableInvestment in TSFair Value Adjustment–TSInvestment in AFS SecuritiesFair Value Adjustment–AFSInvestment in HTM SecuritiesInvestment in StockFair Value Adjustment–Equity SecuritiesFair Value Adjustment–Fair Value OptionAllowance for Credit LossesAccumulated Other Comprehensive IncomeUnrealized Gain or Loss–OCIUnrealized Gain or Loss–IncomeDividend RevenueInterest RevenueInvestment IncomeLoss on ImpairmentRecovery of Loss on ImpairmentLoss on Sale of InvestmentGain on Sale of InvestmentN/A	Answer	Answer