Homework Answers
| No | Date | Account Titles and Explanation | Debit | Credit |
|---|---|---|---|---|
| 1 | January 1 , 2020 | Investment in bonds | 84,000 | |
| Cash | 84,000 | |||
| [To record purchase leads company bonds] | ||||
| 2 | December 31 , 2020 | Interest receivable [ 80 * $1,050 * 8 %] | 6,720 | |
| Interest income | 6,720 | |||
| [To record interest receivable on leads company bonds] | ||||
| 3 | January 1 , 2021 | Cash | 6,720 | |
| Interest receivable | 6,720 | |||
| [To record interest received on leads company bonds] | ||||
| 4 | January 1 , 2021 | Cash | 69,300 | |
| Investment in bonds [ 30 * $1,050] | 31,500 | |||
| Gain on sale of investments | 37,800 | |||
| [To record sales of investment in leads company bonds] |
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Exercise 16-02 Sheridan Corporation had the following transactions pertaining to debt investments. 1. Purchased 80 8%,...
Jenek Corporation had the following transactions pertaining to debt investments. 1. Purchased 60 8%, $1,850 Leeds...
Jenek Corporation had the following transactions pertaining to
debt investments.
1.
Purchased 60 8%, $1,850 Leeds Co. bonds for $111,000 cash.
Interest is payable annually on January 1, 2017.
2.
Accrued interest on Leeds Co. bonds on December 31, 2017.
3.
Received interest on Leeds Co. bonds on January 1, 2018.
4.
Sold 36 Leeds Co. bonds for $75,480 on January 1, 2018.
Journalize the transactions. (Credit account titles are
automatically indented when amount is entered. Do not indent
manually....
Jenek Corporation had the following transactions pertaining to debt investments. 1. Purchased 25 9%, $2,000...
Jenek Corporation had the following transactions pertaining to
debt investments.
1. Purchased 25 9%, $2,000 Leeds
Co. bonds for $50,000 cash. Interest is payable annually on January
1, 2017.
2. Accrued interest on Leeds Co.
bonds on December 31, 2017.
3. Received interest on Leeds Co.
bonds on January 1, 2018.
4. Sold 15 Leeds Co. bonds for
$34,000 on January 1, 2018.
Journalize the transactions. (Credit account titles are automatically indented when amount is entered....
Jenek Corporation had the following transactions pertaining to debt investments 1. Purchased 50 9%, $1,600 Leeds...
Jenek Corporation had the following transactions pertaining to debt investments 1. Purchased 50 9%, $1,600 Leeds Co. bonds for $80,000 cash. Interest is payable annually on January 1, 2017. 2. Accrued interest on Leeds Co. bonds on December 31, 2017. Received interest on Leeds Co. bonds on January 1, 2018 3. Sold 30 Leeds Co. bonds for $54,400 on January 1, 2018. 4. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually....
Exercise 12-2 Jenek Corporation had the following transactions pertaining to debt investments. 1. Purchased 60 9%,...
Exercise 12-2 Jenek Corporation had the following transactions pertaining to debt investments. 1. Purchased 60 9%, $1,200 Leeds Co. bonds for $72,000 cash on January 1, 2017. Interest is payable annually on January 1. 2. Accrued interest on Leeds Co. bonds on December 31, 2017. 3. Received interest on Leeds Co. bonds on January 1, 2018. 4. Sold 36 Leeds Co. bonds for $47,520 on January 1, 2018. Journalize the transactions. (Credit account titles are automatically indented when amount is...
Exercise 12-2 Jenek Corporation had the following transactions pertaining to debt investments 1. Purchased 46 9%,...
Exercise 12-2 Jenek Corporation had the following transactions pertaining to debt investments 1. Purchased 46 9%, $1,300 Leeds Ce bonds for $59,800 cash on January 1, 2017. Interest is payable annually on January 1. 2. Accrued Interest on Leeds Co. bonds on December 31, 2017 3. Received interest on Leeds Co, bonds on January 1, 2018 4. Sold 28 Leeds Co. bonds for $39,468 on January 1, 2018 Journalire the transactions. (Credit account titles are automatically Indented when amount is...
Help will thumbs up last picture is of terms Exercise 16-2 Jenek Corporation had the following...
Help will thumbs up last picture is of terms
Exercise 16-2 Jenek Corporation had the following transactions pertaining to debt investments 1. Purchased 75 9%,$1,650 Leeds Co. bonds for $123,750 cash. Interest is payable annually on January 1, 2017. 2. Accrued interest on Leeds Co. bonds on December 31, 2017 3. Received interest on Leeds Co. bonds on January 1, 2018. 4 Sold 45 Leeds Co. bonds for $84,150 on January 1, 2018 ournalize the transactions. (Credit account titles are...
Please explain how you got each #/answer if you can, it really helps. Cullumber Corporation had...
Please explain how you got each #/answer if you can, it really
helps.
Cullumber Corporation had the following transactions pertaining
to debt investments.
1.
Purchased 45 8%, $1,500 Leeds Co. bonds for $67,500 cash.
Interest is payable annually on January 1, 2020.
2.
Accrued interest on Leeds Co. bonds on December 31, 2020.
3.
Received interest on Leeds Co. bonds on January 1, 2021.
4.
Sold 30 Leeds Co. bonds for $55,688 on January 1, 2021.
Cullumber Corporation had the...
ent PRINTER VERSION BACK NEXT Question 4 On October 1, 2018, Spooner Corporation issued $810,000 of...
ent PRINTER VERSION BACK NEXT Question 4 On October 1, 2018, Spooner Corporation issued $810,000 of 10-year, 4% bonds at 100. Interest is payable semi-annually on October 1 and April 1. Spooner's year end is December 31 and the company records adjusting entries annually a) Prepare journal entries to record the following: (Round answers to the nearest whole dollar, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) 1. The issue of...
Problem 8-3A Presented below is an aging schedule for Larkspur, Inc. Number of Days Past Due Not Over 90...
Problem 8-3A Presented below is an aging schedule for Larkspur, Inc. Number of Days Past Due Not Over 90 Customer Total 1-30 31-60 Yet Due 61-90 $ 25,800 Anders $11,800 $14,000 Blake 40,400 40,400 Coulson 58,400 16,800 5,800 $35,800 Deleon 33,200 $33,200 133,400 Others 97,000 6,300 16,300 13,800 $291,200 $154,200 $33,900 $27,800 $35,800 $39,500 Estimated Percentage Uncollectible 3% 6% 14% 24% 49% Total Estimated Bad Debts $ 8,592 $38,499 $4,626 $ 2,034 $3,892 $19,355 At December 31, 2019, the unadjusted...
ssignment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION 4 BACK NEX CES it 2. 3....
ssignment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION 4 BACK NEX CES it 2. 3. Exercise 4-10 Wildhorse Co., opened an incorporated dental practice on January 1, 2017. During the first month of operations, the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $740 of such services was completed but not yet billed to the insurance companies. Utility expenses incurred but not paid prior to January 31 totaled $850. Purchased dental...
Jenek Corporation had the following transactions pertaining to
debt investments.
1.
Purchased 60 8%, $1,850 Leeds Co. bonds for $111,000 cash.
Interest is payable annually on January 1, 2017.
2.
Accrued interest on Leeds Co. bonds on December 31, 2017.
3.
Received interest on Leeds Co. bonds on January 1, 2018.
4.
Sold 36 Leeds Co. bonds for $75,480 on January 1, 2018.
Journalize the transactions. (Credit account titles are
automatically indented when amount is entered. Do not indent
manually....
Jenek Corporation had the following transactions pertaining to
debt investments.
1. Purchased 25 9%, $2,000 Leeds
Co. bonds for $50,000 cash. Interest is payable annually on January
1, 2017.
2. Accrued interest on Leeds Co.
bonds on December 31, 2017.
3. Received interest on Leeds Co.
bonds on January 1, 2018.
4. Sold 15 Leeds Co. bonds for
$34,000 on January 1, 2018.
Journalize the transactions. (Credit account titles are automatically indented when amount is entered....
Jenek Corporation had the following transactions pertaining to debt investments 1. Purchased 50 9%, $1,600 Leeds Co. bonds for $80,000 cash. Interest is payable annually on January 1, 2017. 2. Accrued interest on Leeds Co. bonds on December 31, 2017. Received interest on Leeds Co. bonds on January 1, 2018 3. Sold 30 Leeds Co. bonds for $54,400 on January 1, 2018. 4. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually....
Exercise 12-2 Jenek Corporation had the following transactions pertaining to debt investments. 1. Purchased 60 9%, $1,200 Leeds Co. bonds for $72,000 cash on January 1, 2017. Interest is payable annually on January 1. 2. Accrued interest on Leeds Co. bonds on December 31, 2017. 3. Received interest on Leeds Co. bonds on January 1, 2018. 4. Sold 36 Leeds Co. bonds for $47,520 on January 1, 2018. Journalize the transactions. (Credit account titles are automatically indented when amount is...
Exercise 12-2 Jenek Corporation had the following transactions pertaining to debt investments 1. Purchased 46 9%, $1,300 Leeds Ce bonds for $59,800 cash on January 1, 2017. Interest is payable annually on January 1. 2. Accrued Interest on Leeds Co. bonds on December 31, 2017 3. Received interest on Leeds Co, bonds on January 1, 2018 4. Sold 28 Leeds Co. bonds for $39,468 on January 1, 2018 Journalire the transactions. (Credit account titles are automatically Indented when amount is...
Help will thumbs up last picture is of terms
Exercise 16-2 Jenek Corporation had the following transactions pertaining to debt investments 1. Purchased 75 9%,$1,650 Leeds Co. bonds for $123,750 cash. Interest is payable annually on January 1, 2017. 2. Accrued interest on Leeds Co. bonds on December 31, 2017 3. Received interest on Leeds Co. bonds on January 1, 2018. 4 Sold 45 Leeds Co. bonds for $84,150 on January 1, 2018 ournalize the transactions. (Credit account titles are...
Please explain how you got each #/answer if you can, it really
helps.
Cullumber Corporation had the following transactions pertaining
to debt investments.
1.
Purchased 45 8%, $1,500 Leeds Co. bonds for $67,500 cash.
Interest is payable annually on January 1, 2020.
2.
Accrued interest on Leeds Co. bonds on December 31, 2020.
3.
Received interest on Leeds Co. bonds on January 1, 2021.
4.
Sold 30 Leeds Co. bonds for $55,688 on January 1, 2021.
Cullumber Corporation had the...
ent PRINTER VERSION BACK NEXT Question 4 On October 1, 2018, Spooner Corporation issued $810,000 of 10-year, 4% bonds at 100. Interest is payable semi-annually on October 1 and April 1. Spooner's year end is December 31 and the company records adjusting entries annually a) Prepare journal entries to record the following: (Round answers to the nearest whole dollar, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) 1. The issue of...
Problem 8-3A Presented below is an aging schedule for Larkspur, Inc. Number of Days Past Due Not Over 90 Customer Total 1-30 31-60 Yet Due 61-90 $ 25,800 Anders $11,800 $14,000 Blake 40,400 40,400 Coulson 58,400 16,800 5,800 $35,800 Deleon 33,200 $33,200 133,400 Others 97,000 6,300 16,300 13,800 $291,200 $154,200 $33,900 $27,800 $35,800 $39,500 Estimated Percentage Uncollectible 3% 6% 14% 24% 49% Total Estimated Bad Debts $ 8,592 $38,499 $4,626 $ 2,034 $3,892 $19,355 At December 31, 2019, the unadjusted...
ssignment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION 4 BACK NEX CES it 2. 3. Exercise 4-10 Wildhorse Co., opened an incorporated dental practice on January 1, 2017. During the first month of operations, the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $740 of such services was completed but not yet billed to the insurance companies. Utility expenses incurred but not paid prior to January 31 totaled $850. Purchased dental...
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