please help 3 questions 1 describe the use of fair value to report financial investm 1552177

Please Help!!!!!! (3 questions)

1) Describe the use of fair value to report financial investments.

2)On January 1, 2015, Parsons Company purchased $84,000, 10 year, 7% government bonds at 100. The semi-annual interest payment dates are June 30 and December 31.

Journalize the Feb 1, 2016 sale of the bonds for $82,000 plus accrued interest for one month.

3)If the market rate of interest is 8%, the price of 6% bonds paying interest semiannually with a face value of $100,000 will be… (please show computations)

a) Equal to 100,00

b)Greater than 100,000

c)Less than 100,000