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Homework answers / question archive / On September 30, Franz Corporation notices a decline in value of its investment in held-to-maturity bonds that it believes to be other than temporary

On September 30, Franz Corporation notices a decline in value of its investment in held-to-maturity bonds that it believes to be other than temporary

Accounting

On September 30, Franz Corporation notices a decline in value of its investment in held-to-maturity bonds that it believes to be other than temporary. On that date, the carrying value of the bonds is $38,500 and the fair value is $22,980. 
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Journal Entry:    
Date Accounts Titles Debit Credit
30-Sep Loss on Impairment ($38,500-$22,980) $15,520    
       Investment in Held-to-Maturity  Securities   $15,520 

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