Homework Answers
| a) | Available for sale securities | 2,01,932 | |||
| Interest revenue (53,300*0.12*4/12) | 2,132 | ||||
| Investments | 2,04,064 | ||||
| ( 108000+ 53300*1.04) | 163432 | ||||
| Debt investment available for sale 1,63,432 + Equity Investment ( Available for sale) 38500 | |||||
| Available for Sale | 2,01,932 | ||||
| b) | Interest Recievable | 8,570 | |||
| Interest Revenue | 8,516 | ||||
| Debt Investment ( Available for Sale) | 54 | ||||
| Accrued Interest | |||||
| 53300*0.12*10/12 | 5330 | ||||
| Premium Amortisation | |||||
| 6/236*2132 | -54 | ||||
| Accrued Interest | |||||
| 108000*0.12*3/12 | 3240 | ||||
| 8,516 | |||||
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veet 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...
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...
Coronado Corp. carries an account in its general ledger called Investments, which contained debits for investment...
Coronado 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 $38,600 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 $48,600, dated March 1, 2017, purchased at 104 plus accrued interest, interest payable...
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 17-3 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,...
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 Coronado Corp. carries an account in its general ledger called Investments, which contained debits...
Problem 17-3 Coronado Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions. $40,300 Feb. 1, 2017 April 1 Sharapova Company common stock, $120 par, 240 shares U.S. government bonds, 11%, due April 1, 2027, interest payable April 1 and October 1, 108 bonds of $1,000 par each McGrath Company 12% bonds, par $45,000, dated March 1, 2017, purchased at 104 plus accrued interest, interest payable annually...
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 Cardinal Paz Corp, carmies an account in its general ledger called Investments, which contained...
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...
Problem 9-3 The following amortization schedule is for Martinez Ltd.'s investment in Spangler Corp's $75,000, five-year...
Problem 9-3 The following amortization schedule is for Martinez Ltd.'s investment in Spangler Corp's $75,000, five-year bonds with a 7% interest rate and a 5% yield, which were purchased on December 31, 2016, for $81,494 Bond Premium Amortized Amortized Cost of Bonds Cash Interest Received Income Dec. 31, 2016 $81,494 Dec. 31, 2017$5,250 5,250 5,250 5,250 5,250 Dec. 31, 2018 Dec. 31, 2019 Dec. 31, 2020 Dec. 31, 2021 $4,075 4,016 3,954 3,889 3,821 $1,175 1,234 1,296 1,361 1,428 80,319...
Problem 9-3 The following amortization schedule is for Ayayai Ltd.'s investment in Spangler Corp.'s $102,500, five-year...
Problem 9-3 The following amortization schedule is for Ayayai Ltd.'s investment in Spangler Corp.'s $102,500, five-year bonds with a 13% interest rate and a 11% yield, which were purchased on December 31, 2019, for $110,184: Cash Received Interest Income Bond Premium Amortized Dec. 31, 2019 Dec. 31, 2020 Dec. 31, 2021 Dec. 31, 2022 Dec 31, 2023 Dec. 31. 2024 $13,338 13,338 13,338 13,338 13,338 $12,120 11,986 11,838 11,673 11,489 $1,218 1,352 1,500 1,665 1,849 Amortized Cost of Bonds $110,184...
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 17-3
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,...
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 Coronado Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions. $40,300 Feb. 1, 2017 April 1 Sharapova Company common stock, $120 par, 240 shares U.S. government bonds, 11%, due April 1, 2027, interest payable April 1 and October 1, 108 bonds of $1,000 par each McGrath Company 12% bonds, par $45,000, dated March 1, 2017, 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...
Problem 9-3 The following amortization schedule is for Martinez Ltd.'s investment in Spangler Corp's $75,000, five-year bonds with a 7% interest rate and a 5% yield, which were purchased on December 31, 2016, for $81,494 Bond Premium Amortized Amortized Cost of Bonds Cash Interest Received Income Dec. 31, 2016 $81,494 Dec. 31, 2017$5,250 5,250 5,250 5,250 5,250 Dec. 31, 2018 Dec. 31, 2019 Dec. 31, 2020 Dec. 31, 2021 $4,075 4,016 3,954 3,889 3,821 $1,175 1,234 1,296 1,361 1,428 80,319...
Problem 9-3 The following amortization schedule is for Ayayai Ltd.'s investment in Spangler Corp.'s $102,500, five-year bonds with a 13% interest rate and a 11% yield, which were purchased on December 31, 2019, for $110,184: Cash Received Interest Income Bond Premium Amortized Dec. 31, 2019 Dec. 31, 2020 Dec. 31, 2021 Dec. 31, 2022 Dec 31, 2023 Dec. 31. 2024 $13,338 13,338 13,338 13,338 13,338 $12,120 11,986 11,838 11,673 11,489 $1,218 1,352 1,500 1,665 1,849 Amortized Cost of Bonds $110,184...
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