February 1, Hansen company purchased $120,000 of 5%, 20-year knight company bonds at their face amount...
February 1, Hansen company purchased $120,000 of 5%, 20-year knight company bonds at their face amount plus one month's accrued interest. the bonds pay interest on January 1 and July 1. on October 1, Hansen company sold $40,000 of the knight company bonds acquired on February 1, plus three month's accrued interest. on December 31, three month's interest was accrued for the remaining bonds. determine the interest earned by hansen company on knight company bonds for the year. do not round interim computation and round final answer to nearest dollar.
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February 1, Hansen company purchased $120,000 of 5%,
20-year knight company bonds at their face amount...
Interest on Bond Investments On February 1, Hansen Company purchased $114,000 of 9%, 10-year Knight Company...
Interest on Bond Investments On February 1, Hansen Company purchased $114,000 of 9%, 10-year Knight Company bonds at their face amount plus one month’s accrued interest. The bonds pay interest on January 1 and July 1. On October 1, Hansen Company sold $40,800 of the Knight Company bonds acquired on February 1, plus three months’ accrued interest. On December 31, three months’ interest was accrued for the remaining bonds. Determine the interest earned by Hansen Company on Knight Company bonds...
Interest on Bond Investments On February 1, Hansen Company purchased $66,000 of 8%, 15-year Knight Company...
Interest on Bond Investments On February 1, Hansen Company purchased $66,000 of 8%, 15-year Knight Company bonds at their face amount plus one month’s accrued interest. The bonds pay interest on January 1 and July 1. On October 1, Hansen Company sold $24,000 of the Knight Company bonds acquired on February 1, plus three months’ accrued interest. On December 31, three months’ interest was accrued for the remaining bonds. Determine the interest earned by Hansen Company on Knight Company bonds...
Entries for Investment in Bonds, Interest, and Sale of Bonds Bocelli Co. purchased $120,000 of 6%,...
Entries for Investment in Bonds, Interest, and Sale of Bonds Bocelli Co. purchased $120,000 of 6%, 20-year Sanz County bonds on May 11, Year 1, directly from the county, at their face amount plus accrued interest. The bonds pay semiannual interest on April 1 and October 1. On October 31, Year 1, Bocelli Co. sold $30,000 of the Sanz County bonds at 99 plus $150 accrued interest less a $100 brokerage commission. Do not round Interim calculations. Round final answers...
Entries for Investments in Bonds, Interest, and Sale of Bonds Kalyagin Investments acquired $228,400 Jerris Corp.,...
Entries for Investments in Bonds, Interest, and Sale of
Bonds
Kalyagin Investments acquired $228,400 Jerris Corp., 9% bonds at
their face amount on October 1, 20Y2. The bonds pay interest on
October 1 and April 1. On April 1, 20Y3, Kalyagin sold $120,000 of
Jerris bonds at 102.
Journalize the entries to record the following:
Do not round interim calculations. Round final answers to
nearest dollar. For a compound transaction, if an amount box does
not require an entry, leave...
EX 15-3 Entries for investment in bonds, interest, and sale of bonds OBJ.2 purchased $120,000 of...
EX 15-3 Entries for investment in bonds, interest, and sale of bonds OBJ.2 purchased $120,000 of 6%, 20-year Sanz County bonds on May 11, Year 1, directly from the county, at their face amount plus accrued interest. The bonds pay semiannual interest on April 1 and October 1. On October 31, Year 1, Bocelli Co. sold $30,000 of the Sanz County bonds at 99 plus $150 accrued interest less a $100 brokerage commission. Provide journal entries for the following: a....
Entries for Investment in Bonds, Interest, and Sale of Bonds The following bond investment transactions were...
Entries for Investment in Bonds, Interest, and Sale of Bonds The following bond investment transactions were completed during a recent year by Starks Company: Year 1 Jan. 31 Purchased 45, $1,000 government bonds at 100 plus accrued interest of $225 (one month). The bonds pay 6% annual interest on July 1 and January 1. July 1 Received semiannual interest on bond investment. Aug. 30 Sold 18, $1,000 bonds at 97 plus $180 accrued interest (two months). a. Journalize the entries...
Bocelli Co. purchased $162,000 of 4%, 20-year Sanz County bonds on May 11, Year 1, directly...
Bocelli Co. purchased $162,000 of 4%, 20-year Sanz County bonds on May 11, Year 1, directly from the county, at their face amount plus accrued interest. The bonds pay semiannual interest on April 1 and October 1. On October 31, Year 1, Bocelli Co. sold $30,000 of the Sanz County bonds at 99 plus $100 accrued interest less a $110 brokerage commission. Provide journal entries for the following (refer to the Chart of Accounts for exact wording of account titles):...
Feb. 1 Purchased 12% Atom Company bonds with a face value of $20,000 at par, plus...
Feb. 1 Purchased 12% Atom Company bonds with a face value of $20,000 at par, plus accrued interest. Interest on the bonds is payable February 28 and August 31 each year, and the bonds are due August 31, 2019. Also purchased 10% Bradford Company bonds with a face value of $12,000 at par, plus accrued interest. Interest on the bonds is payable March 31 and September 30, and the bonds are due September 30, 2022. These are the only bonds...
On February 1, 2018, Strauss-Lombardi issued 10% bonds, dated February 1, with a face amount of...
On February 1, 2018, Strauss-Lombardi issued 10% bonds, dated February 1, with a face amount of $850,000. The bonds sold for $781,801 and mature on January 31, 2038 (20 years). The market yield for bonds of similar risk and maturity was 11%. Interest is paid semiannually on July 31 and January 31. Strauss-Lombardi’s fiscal year ends December 31. Required: 1. to 4. Prepare the journal entry to record their issuance by Strauss-Lombardi on February 1, 2018, interest on July 31,...
Entries for Investments in Bonds, Interest, and Sale of Bonds Kalyagin Investments acquired $226,400 Jerris Corp.,...
Entries for Investments in Bonds, Interest, and Sale of Bonds Kalyagin Investments acquired $226,400 Jerris Corp., 8% bonds at their face amount on October 1, 20Y2. The bonds pay interest on October 1 and April 1. On April 1, 20Y3, Kalyagin sold $112,400 of Jerris bonds at 101. Journalize the entries to record the following: Do not round interim calculations. Round final answers to nearest dollar. For a compound transaction, if an amount box does not require an entry, leave...
Entries for Investment in Bonds, Interest, and Sale of Bonds Bocelli Co. purchased $120,000 of 6%, 20-year Sanz County bonds on May 11, Year 1, directly from the county, at their face amount plus accrued interest. The bonds pay semiannual interest on April 1 and October 1. On October 31, Year 1, Bocelli Co. sold $30,000 of the Sanz County bonds at 99 plus $150 accrued interest less a $100 brokerage commission. Do not round Interim calculations. Round final answers...
Entries for Investments in Bonds, Interest, and Sale of
Bonds
Kalyagin Investments acquired $228,400 Jerris Corp., 9% bonds at
their face amount on October 1, 20Y2. The bonds pay interest on
October 1 and April 1. On April 1, 20Y3, Kalyagin sold $120,000 of
Jerris bonds at 102.
Journalize the entries to record the following:
Do not round interim calculations. Round final answers to
nearest dollar. For a compound transaction, if an amount box does
not require an entry, leave...
EX 15-3 Entries for investment in bonds, interest, and sale of bonds OBJ.2 purchased $120,000 of 6%, 20-year Sanz County bonds on May 11, Year 1, directly from the county, at their face amount plus accrued interest. The bonds pay semiannual interest on April 1 and October 1. On October 31, Year 1, Bocelli Co. sold $30,000 of the Sanz County bonds at 99 plus $150 accrued interest less a $100 brokerage commission. Provide journal entries for the following: a....
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