Homework Answers
| Brooks Co | |||||||||
| Date | Particulars | Dr($) | Cr($) | ||||||
| Dec-27 | Investments In Trading securities | 66000 | |||||||
| Cash | 66000 | ||||||||
| Dec-31 | Trading Securities Market value adjustment | 6000 | |||||||
| Unrealized Gain(Loss) on Short Term Investments | 6000 | ||||||||
| 03-Jan | Cash | 4000 | |||||||
| Investments In Trading securities | 3000 | ||||||||
| Trading securities Market value adjustment | 273 | ||||||||
| Realised gain on trading securities | 727 | ||||||||
| Trading securities Market value adjustment and Invesment in trading securities- are under Current asset- under Short term investments | |||||||||
| Unrealized Gain(Loss) on Short Term Investments- Under P & L A/c | |||||||||
| Realised gain on trading securities- Under P & L A/c | |||||||||
| Natura Co | |||||||||
| 01-Aug | Inestment in held to maturity debt securities | 1000 | |||||||
| Cash | 1000 | ||||||||
| 16-Sep | Cash | 1025 | |||||||
| Inestment in held to maturity debt securities | 1000 | ||||||||
| Interest Received | 25 | 1000*(0.1/360*90) | |||||||
| Krum Co | |||||||||
| 01-Aug | Available for sale debt securities | 50000 | |||||||
| Cash | 50000 | ||||||||
| 30-Oct | Cash | 1125 | 50000*0.09/360*90 | ||||||
| Interest received on available for sale debt securities | 1125 | ||||||||
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Help me, please on 15-2
Stacks Co purchas is first and only purchas a purchases debt...
Help me, please on 15-3 Stacks Co purchas is first and only purchas a purchases debt...
Help me, please on 15-3
Stacks Co purchas is first and only purchas a purchases debt investments as trading securities at a cost of $66.000 on December 27. This is nd only purchase of such securities. At December 31, these securities had a fair value of $72,000. he December 27 entry for the purchase of debt investments. me the December 31 year-end fair value adjusting entry for the trading securities' portfolio. hare the January 3 entry when Brooks sells a...
HelpS Prepare Krum Co.'s journal entries to record the following transactions involving its short-term investments in...
HelpS Prepare Krum Co.'s journal entries to record the following transactions involving its short-term investments in available for sale debt securities, all of which occurred during the current year. 3. On August 1, paid $80,000 cash to purchase Houtte's 10%, six-month debt securities ($80,000 principal), dated August 1 b. On October 30, received a check from Houtte for 90 days' interest on the debt securities in transaction a. (Use 360 days in a year Do not round your intermediate calculations.)...
Exercise 15-5 Accounting for short-term avaliable-for-sale securities LO P3 Prepare journal entries to record the following...
Exercise 15-5 Accounting for short-term avaliable-for-sale securities LO P3 Prepare journal entries to record the following transactions involving the short-term securities investments of Krum Co., all of which occurred during year 2017. a. On August 1, paid $70,000 cash to purchase Houtte's 8% debt securities ($70,000 principal), dated July 30, 2017, and maturing January 30, 2018 (categorized as available-for-sale securities). b. On October 30, received a check from Houtte for 90 days' interest on the debt securities purchased in transaction...
2:06 PM 32% ex13.docx Prepare journal entries to record the following transactions involving the shont-term securities...
2:06 PM 32% ex13.docx Prepare journal entries to record the following transactions involving the shont-term securities of Duke Co, all of which occurred during year 2013. a. On March 22, purchased 1,000 shares of RIP Company stock at $10 per share plus a $0 brokerage fee. These shares are categorized as trading securities b. On September 1, received a $1.00 per share cash dividend on the RIP Company stock parchased in c. On October 8, sold 500 shares of RIP...
Prepare Natura Co.'s journal entries to record the following transactions involving its short-term investments in held-to-maturity...
Prepare Natura Co.'s journal entries to record the following transactions involving its short-term investments in held-to-maturity debt securities, all of which occurred during the current year a. On June 15, paid $234.000 cash to purchase Remed's 90-day short-term debt securities ($234.000 principal). dated June 15, that pay 9% interest. b. On September 16, received a check from Remed in payment of the principal and 90 days' interest on the debt securities purchase in transaction a, (Use 360 days in a...
Prepare Natura Co.’s journal entries to record the following transactions involving its short-term securities investments in...
Prepare Natura Co.’s journal entries to record the following transactions involving its short-term securities investments in held-to-maturity debt securities, all of which occurred during the current year. On June 15, paid $256,000 cash to purchase Remed’s 90-day short-term debt securities ($256,000 principal), dated June 15, that pay 7% interest. On September 16, received a check from Remed in payment of the principal and 90 days' interest on the debt securities purchased in the June 15 transaction.
1. 2. of such securities. At December 31, these securities had a fair value of $72,000...
1.
2.
of such securities. At December 31, these securities had a fair value of $72,000 1. Prepare the December 27 entry for the purchase of debt investments 2. & 3. Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January 3 entry when Brooks sells a portion of its trading securities (costing $3,000) for $4,000 cash. Complete this question by entering your answers in the tabs below. Reg 2 and 3 Prepare...
Exercise 15-4 Accounting for short-term held-to-maturity securities LO P2 Prepare journal entries to record the following...
Exercise 15-4 Accounting for short-term held-to-maturity
securities LO P2
Prepare journal entries to record the following transactions
involving the short-term securities investments of Natura Co., all
of which occurred during year 2017.
On June 15, paid $278,000 cash to purchase Remedy’s 90-day
short-term debt securities ($278,000 principal), dated June 15,
that pay 5% interest (categorized as held-to-maturity
securities).
On September 16, received a check from Remedy in payment of the
principal and 90 days' interest on the debt securities purchased...
pter 15 Assignment Saved Prepare journal entries to record the following transactions involving the short-term securities...
pter 15 Assignment Saved Prepare journal entries to record the following transactions involving the short-term securities investments of Natura Co., all of which occurred during year 2015 a. On June 15, paid $142,000 cash to purchase Remedy's 90-day short-term debt securities ($142,000 principal), dated June 15, that pay 9 % interest (categorized as held-to-maturity securities). b. On September 16, received a check from Remedy in payment of the principal and 90 days' interest on the debt securities purchased in transaction...
Exercise 15-2 Accounting for debt investments classified as trading LO P1 Brooks Co. purchases debt investments...
Exercise 15-2 Accounting for debt investments classified as trading LO P1 Brooks Co. purchases debt investments as trading securities at a cost of $54,000 on December 27. This is its first and only purchase of such securities. At December 31, these securities had a fair value of $69,000. 1. Prepare the December 27 entry for the purchase of debt investments. 2. & 3. Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January...
Help me, please on 15-3
Stacks Co purchas is first and only purchas a purchases debt investments as trading securities at a cost of $66.000 on December 27. This is nd only purchase of such securities. At December 31, these securities had a fair value of $72,000. he December 27 entry for the purchase of debt investments. me the December 31 year-end fair value adjusting entry for the trading securities' portfolio. hare the January 3 entry when Brooks sells a...
HelpS Prepare Krum Co.'s journal entries to record the following transactions involving its short-term investments in available for sale debt securities, all of which occurred during the current year. 3. On August 1, paid $80,000 cash to purchase Houtte's 10%, six-month debt securities ($80,000 principal), dated August 1 b. On October 30, received a check from Houtte for 90 days' interest on the debt securities in transaction a. (Use 360 days in a year Do not round your intermediate calculations.)...
Exercise 15-5 Accounting for short-term avaliable-for-sale securities LO P3 Prepare journal entries to record the following transactions involving the short-term securities investments of Krum Co., all of which occurred during year 2017. a. On August 1, paid $70,000 cash to purchase Houtte's 8% debt securities ($70,000 principal), dated July 30, 2017, and maturing January 30, 2018 (categorized as available-for-sale securities). b. On October 30, received a check from Houtte for 90 days' interest on the debt securities purchased in transaction...
2:06 PM 32% ex13.docx Prepare journal entries to record the following transactions involving the shont-term securities of Duke Co, all of which occurred during year 2013. a. On March 22, purchased 1,000 shares of RIP Company stock at $10 per share plus a $0 brokerage fee. These shares are categorized as trading securities b. On September 1, received a $1.00 per share cash dividend on the RIP Company stock parchased in c. On October 8, sold 500 shares of RIP...
Prepare Natura Co.'s journal entries to record the following transactions involving its short-term investments in held-to-maturity debt securities, all of which occurred during the current year a. On June 15, paid $234.000 cash to purchase Remed's 90-day short-term debt securities ($234.000 principal). dated June 15, that pay 9% interest. b. On September 16, received a check from Remed in payment of the principal and 90 days' interest on the debt securities purchase in transaction a, (Use 360 days in a...
1.
2.
of such securities. At December 31, these securities had a fair value of $72,000 1. Prepare the December 27 entry for the purchase of debt investments 2. & 3. Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January 3 entry when Brooks sells a portion of its trading securities (costing $3,000) for $4,000 cash. Complete this question by entering your answers in the tabs below. Reg 2 and 3 Prepare...
Exercise 15-4 Accounting for short-term held-to-maturity
securities LO P2
Prepare journal entries to record the following transactions
involving the short-term securities investments of Natura Co., all
of which occurred during year 2017.
On June 15, paid $278,000 cash to purchase Remedy’s 90-day
short-term debt securities ($278,000 principal), dated June 15,
that pay 5% interest (categorized as held-to-maturity
securities).
On September 16, received a check from Remedy in payment of the
principal and 90 days' interest on the debt securities purchased...
pter 15 Assignment Saved Prepare journal entries to record the following transactions involving the short-term securities investments of Natura Co., all of which occurred during year 2015 a. On June 15, paid $142,000 cash to purchase Remedy's 90-day short-term debt securities ($142,000 principal), dated June 15, that pay 9 % interest (categorized as held-to-maturity securities). b. On September 16, received a check from Remedy in payment of the principal and 90 days' interest on the debt securities purchased in transaction...
Exercise 15-2 Accounting for debt investments classified as trading LO P1 Brooks Co. purchases debt investments as trading securities at a cost of $54,000 on December 27. This is its first and only purchase of such securities. At December 31, these securities had a fair value of $69,000. 1. Prepare the December 27 entry for the purchase of debt investments. 2. & 3. Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January...
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