96. On January 2, 2014, Fernie Inc bought 2,000 of Terrace Company's 6% semi-annual coupon bonds, maturing in 2019, for par value, $1,000. The bonds paid the coupon as scheduled on June 30, 2014, but...

96. On January 2, 2014, Fernie Inc bought 2,000 of Terrace Company's 6% semi-annual coupon bonds, maturing in 2019, for par value, $1,000. The bonds paid the coupon as scheduled on June 30, 2014, but by then the bonds' market price had fallen to $990.



Required:


Answer the following questions assuming that Fernie's management accounts for the bonds using:


i) Amortized cost
ii) FVTNI
iii) FVTOCI

97. Canada Company had the following activity with respect to investments in common shares in the past year. Canada does not trade securities as part of its normal business operations.


Alberta Enterprises Inc.
Canada bought 10% of the 200,000 common shares of Alberta Enterprises at a total cost of $13.00 per share on March 1^st. On July 31^st
Alberta declared and paid a $75,000 cash dividend. On December 31^st
Alberta reported net income of $122,000 for the year and the market price of its shares was $15.00.
Manitoba Corp.
Canada bought 30% of the 30,000 outstanding common shares of Manitoba Corp on January 1^st
at a cost of $9.00 per share. Manitoba declared and paid a cash dividend of $36,000 on June 30^th. On December 31^st
Manitoba reported net income of $85,000 for the year and the market price of its shares was $10.50.
Ontario Ltd.
On February 28^th
Canada created Ontario Ltd to market and distribute its products in eastern Canada. Canada is the sole shareholder of Ontario. Ontario declared and paid a dividend of $10,000 on October 31^st. On December 31^st
Ontario reported net income of $50,000 and the market value of their shares was unknown.



Required:


For each of Canada's investments determine what would be reported on their financial statements, you may ignore the cash flow statement, for the year.