Homework Answers
| Date | Account Tittle | Debit | Credit |
| 31-Dec-17 | Fair Value Adjustment | $12,300.00 | |
|
Unrealised Holding Gain/ Loss - Equity ( 108000+48600-113200-55700) |
$12,300.00 | ||
| To Record for Debt Investment | |||
| Unrealised Holding Gain/ Loss - Equity | $8,700.00 | ||
| Fair
Value Adjustment (40300-31600) |
$8,700.00 | ||
| To Record for Equity Investment |
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Problem 17-3 Coronado Corp. carries an account in its general ledger called Investments, which contained debits...
Oriole Corp. carries an account in its general ledger called Investments, which contained debits for investment...
Oriole Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions. Feb. 1, 2017 Sharapova Company common stock, $110 par, 220 shares $36,300 April 1 U.S. government bonds, 12%, due April 1, 2027, interest payable April 1 and October 1, 108 bonds of $1,000 par each 108,000 July 1 McGrath Company 12% bonds, par $53,500, dated March 1, 2017, purchased at 104 plus accrued interest, interest payable...
Problem 17-3 Monty Corp. carries an account in its general ledger called Investments, which contained debits for investm...
Problem 17-3
Monty Corp. carries an account in its general ledger called
Investments, which contained debits for investment purchases, and
no credits, with the following descriptions.
Feb. 1, 2017
Sharapova Company common stock, $120 par, 240 shares
$34,200
April 1
U.S. government bonds, 11%, due April 1, 2027, interest payable
April 1 and October 1, 108 bonds of $1,000 par each
108,000
July 1
McGrath Company 12% bonds, par $49,800, dated March 1, 2017,
purchased at 104 plus accrued interest,...
Coronado Corp. carries an account in its general ledger called Investments, which contained debits for investment...
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veet Corp. carries an account in its general ledger called Investments, which contained debits for investment...
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Sweet Corp. carries an account in its general ledger called Investments, which contained debits for investment...
Sweet Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions. $38,500 Sharapova Company common stock, $80 par, 160 shares Feb. 1, 2017 U.S. government bonds, 12%, due April 1, 2027, interest payable April 1 and October 1, 108 bonds of $1,000 par each April 1 108,000 McGrath Company 12% bonds, par $53,300, dated March 1, 2017, purchased at 104 plus accrued interest, interest payable annually on...
Problem 17-3 Sweet Corp. carries an account in its general ledger called Investments, which contained debits...
Problem 17-3
Sweet Corp. carries an account in its general ledger called
Investments, which contained debits for investment purchases, and
no credits, with the following descriptions.
Feb. 1, 2017
Sharapova Company common stock, $80 par, 160 shares
$38,500
April 1
U.S. government bonds, 12%, due April 1, 2027, interest payable
April 1 and October 1, 108 bonds of $1,000 par each
108,000
July 1
McGrath Company 12% bonds, par $53,300, dated March 1, 2017,
purchased at 104 plus accrued interest,...
Problem 17-03 Pharoah Corp. carries an account in its general ledger called Investments, which contained debits...
Problem 17-03 Pharoah Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions. $38,600 Feb. 1, 2020 April 1 Sharapova Company common stock, $80 par, 160 shares U.S. government bonds, 12%, due April 1, 2030, interest payable April 1 and October 1, 108 bonds of $1,000 par each McGrath Company 12% bonds, par $48,600, dated March 1, 2020, purchased at 104 plus accrued interest, interest payable annually...
Problem 17-3 Cardinal Paz Corp, carmies an account in its general ledger called Investments, which contained...
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P17.3 (LO 1, 2) (Debt and Equity Investments) Cardinal Paz Corp. carries an account in its...
P17.3 (LO 1, 2) (Debt and Equity Investments) Cardinal Paz Corp. carries an account in its gen- eral ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions. $ 37,400 Feb. 1, 2020 April 1 110,000 Sharapova Company common stock, $100 par, 200 shares U.S. government bonds, 11%, due April 1, 2030, interest payable April 1 and October 1, 110 bonds of $1,000 par each McGrath Company 12% bonds, par $50,000, dated March 1,...
Your answer is partially correct. Try again. Crane Company invests $9,000,000 in 4% fixed rate corporate...
Your answer is partially correct. Try again. Crane Company invests $9,000,000 in 4% fixed rate corporate bonds on January 1, 2017. All the bonds are classified as available-for-sale and are purchased at par. At year-end, market interest rates have declined, and the fair value of the bonds is now $9,648,000. Interest is paid on January 1. Prepare journal entries for Crane Company to (a) record the transactions related to these bonds in 2017, assuming Crane does not elect the fair...
Problem 17-3
Monty Corp. carries an account in its general ledger called
Investments, which contained debits for investment purchases, and
no credits, with the following descriptions.
Feb. 1, 2017
Sharapova Company common stock, $120 par, 240 shares
$34,200
April 1
U.S. government bonds, 11%, due April 1, 2027, interest payable
April 1 and October 1, 108 bonds of $1,000 par each
108,000
July 1
McGrath Company 12% bonds, par $49,800, dated March 1, 2017,
purchased at 104 plus accrued interest,...
veet Corp. carries an account in its general ledger called Investments, which contained debits for investment archases, and no credits, with the following descriptions. $38,500 eb. 1, 2017 April 1 Sharapova Company common stock, $80 par, 160 shares U.S. government bonds, 12%, due April 1, 2027, interest payable April 1 and October 1, 108 bonds of $1,000 par each McGrath Company 12% bonds, par $53,300, dated March 1, 2017, purchased at 104 plus accrued interest, interest payable annually on March...
Sweet Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions. $38,500 Sharapova Company common stock, $80 par, 160 shares Feb. 1, 2017 U.S. government bonds, 12%, due April 1, 2027, interest payable April 1 and October 1, 108 bonds of $1,000 par each April 1 108,000 McGrath Company 12% bonds, par $53,300, dated March 1, 2017, purchased at 104 plus accrued interest, interest payable annually on...
Problem 17-3
Sweet Corp. carries an account in its general ledger called
Investments, which contained debits for investment purchases, and
no credits, with the following descriptions.
Feb. 1, 2017
Sharapova Company common stock, $80 par, 160 shares
$38,500
April 1
U.S. government bonds, 12%, due April 1, 2027, interest payable
April 1 and October 1, 108 bonds of $1,000 par each
108,000
July 1
McGrath Company 12% bonds, par $53,300, dated March 1, 2017,
purchased at 104 plus accrued interest,...
Problem 17-03 Pharoah Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions. $38,600 Feb. 1, 2020 April 1 Sharapova Company common stock, $80 par, 160 shares U.S. government bonds, 12%, due April 1, 2030, interest payable April 1 and October 1, 108 bonds of $1,000 par each McGrath Company 12% bonds, par $48,600, dated March 1, 2020, purchased at 104 plus accrued interest, interest payable annually...
Problem 17-3 Cardinal Paz Corp, carmies an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions Feb. 1, 2017 Sharapova Company common stock, $100 par, 200 shares April July 1 537,400 us government bonds, 11%, due April, 2027, nterest payable Aprn and October 1, 110 bonds of $1,000 par each 110,000 . McGrathCompany 12% bonds, par $50,000, dated March 1, 2017, purchased at 104 plus accrued interest, interest payable...
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Your answer is partially correct. Try again. Crane Company invests $9,000,000 in 4% fixed rate corporate bonds on January 1, 2017. All the bonds are classified as available-for-sale and are purchased at par. At year-end, market interest rates have declined, and the fair value of the bonds is now $9,648,000. Interest is paid on January 1. Prepare journal entries for Crane Company to (a) record the transactions related to these bonds in 2017, assuming Crane does not elect the fair...
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